The document summarizes information about governing boards and presidencies at American colleges and universities. It discusses the roles and responsibilities of governing boards, which have legal authority over public and private institutions. Board members are appointed differently depending on if the institution is public or private. The document also examines the role of university presidents. Presidents are the chief executive officers and are responsible for the overall operations and vision of the institution. They must balance various internal and external responsibilities to students, faculty, donors, and other stakeholders.