The Association of Governing Boards awarded its 2026 John W. Nason prizes to governing boards that reshaped their roles—most notably the Colorado School of Mines Foundation and Evergreen State College Foundation—for strategic fundraising and governance performance. AGB highlighted boards that professionalized leadership, restructured governance, and drove major fundraising campaigns to stabilize institutions amid declining public funding. AGB’s broader guidance urges state executives and legislatures to prioritize competence, independence and mission alignment when appointing public board members. The selection paper emphasizes that governors and legislatures play an oversized role in shaping institutional capacity through appointments. For campus leaders, the two stories together signal a governance playbook: boards that act as strategic partners can offset funding shortfalls, but appointment processes and selection criteria at the state level will materially influence which institutions can execute that strategy.