This dissertation was a qualitative research study regarding two small private universities and their process of transformation from an institution headed toward closure to a successful turnaround. The primary questions that guided the study included the factors and persons that contributed to the institutional turnaround, the issues and circumstances that led to the need for a turnaround, and the extent to which presidential leadership created a turnaround culture at the institution. The study included a review of the literature regarding the turbulent times in higher education and factors that led to decline or closure of institutions. Accordingly, the literature identified institutions that have been revitalized and elements of a successful turnaround. Specific research included recommendations from higher education leaders of turnaround schools, campus publications, news articles, and website content. Additionally, the research included 18 detailed interviews of presidents, board members, administrators, and faculty members on the campuses of the two institutions. Literature review, personal interviews, and document analysis revealed that entrepreneurial, presidential leadership was critical factor to the transformation. Additionally, it was necessary for the president and the leadership team to promote the uniqueness of the institution, communicate the vision for the plan, and implement the plan in a timely manner. The impact of fundraising revenue was something not often noted in previous studies regarding turnaround schools and was a major factor toward success for the two institutions. In these cases, the fundraising support helped to build momentum and provide an infusion of much needed resources. The stories of these universities represent the resilience of small private colleges. Presidents, board members, and faculty members would benefit from the many inspiring lessons that can be learned from these turnaround schools. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]