Findings from a study of the viability of a sample of 51 institutions that received substantial federal funding are summarized. The institutions received funding through Title III of the Higher Education Act during the 1981-1982 academic year and the 5 prior academic years. Study objectives included the following: to determine general factors associated with institutional development (growth, stability, and decline or stagnation), to identify developmental activities that fulfilled institutional needs and purpose as well as the intent of the federal legislation; and to determine factors associated with specific successful investment. The present document is designed to summarize findings that are particularly relevant to program development and operations functions at the federal level, as well as to continuing policy issues. Special emphasis was placed on the achievement of fiscal viability and movement toward independence from federal support through Title III, and the achievement of excellence in serving low-income and minority students. Characteristics of the study institutions and their activities are summarized, and implications of the findings for the following program events are addressed: eligibility, application and award process, monitoring, technical assistance, and evaluation. (SW)