This article analyzes how Russia's networks of higher education institutions contribute to their host regions in terms of the following three major facets: the economic development; the human capital development; and the innovative development. To ensure the analytical framework used derives relevant and representative findings given the nature of the Russian socio-economic environment, the authors implement a customized methodology that factors in the most appropriate components from various international best practices in assessing university effects on comprehensive societal development. The study will be of interest to a wide audience of stakeholders in higher education and broader contexts, including policy professionals at the federal and regional levels, institutional leadership, researchers and analysts, students in socio-political, economic, and educational majors, etc. [This article was translated by Kenneth Cargill.]