Tuition-driven higher education institutions are continually faced with financial and enrollment challenges and other associated challenges exacerbated by the COVID-19 pandemic. This action research case study sought to provide a blueprint for private, non-profit higher education institutions to use as a guide in the presidential search process for a transformational president to lead an institutional turnaround. Institutions utilizing transformational leadership approaches at similarly situated universities realized turnaround success within this leadership model. Through the triangulation of the data sources, the board of trustee chairs, trustees serving on the presidential search committee, and the selected university presidents provided reliable and valid qualitative data through one-on-one interviews in responding to the research questions. Each data source provided a unique perspective on the characteristics, skills, behaviors, and professional successes required by the leader to direct, manage, and lead an institutional turnaround. The findings showed that the governing board sought a leader that possesses, behaves, and practices transformational, level 5, servant leadership to lead their universities to a turnaround. The universities sought turnarounds to stabilize finances, increase enrollment and endowment, and make organizational and departmental changes. The findings aligned with the research in that the turnaround leader must have a shared vision and plan embraced by a cohesive senior leadership team and supportive community to be successful in the turnaround. In addition, the board and presidents agreed that the strategic planning process was of utmost importance as the presidency began and forged forward. Lastly, the results identified the significance of the president building a culture of giving at the university, which included critical work in improving town-gown relationships. A vital follow-up study conducted at least ten years from the onset of the transition period would provide a strong indicator that a revitalization occurred at the institution. [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.]