At a time when universities must work for every penny they get, university presidents often find themselves with more fund-raising responsibilities, traditional academic duties and short tenures.

University President Joab Thomas is nearing the end of his five-year term, and although he said his energy is still running high, he admits his schedule is demanding.

"I don't know if I'm necessarily ready to retire," Thomas said. "It's time for me to step down as a college president."

A typical work week for Thomas could include everything from basketball games, gymnastic meets, banquets or quick jaunts to places such as Pittsburgh. This is on top of meetings with trustees, administrators, faculty and students.

Thomas has also been president at North Carolina State University and the University of Alabama. Those terms, combined with his tenure at Penn State, total 20 years of university presidential service.

Although Thomas said he could "easily do this for another few years," he will be moving on Aug. 31. He claims to want to step down while he still has the energy to pursue other academic interests.

"It's a matter of making an objective decision of when one should step away," Thomas said.

With the University about to embark on a new fund-raising campaign for scholarships and endowments, corporate qualities will be important for the next president.

Barbara Taylor, vice president for programs and research for the Association of Governing Boards of Universities and Colleges, said generally, with new presidents come new campaigns. Universities often start planning campaigns when a president is going to retire because it is not productive to change leadership in the middle of it.

"It's not so much causal in the other direction," Taylor said. "They need to wait to start when the new president is in place."

Although many say the tenure of university presidents is shrinking, the terms are not much shorter than they were 10 years ago, Taylor said. Most universities expect presidents will stay for six to seven years, she added.

In a time of constrained budgets, presidents need managerial experience on top of their other skills, Taylor said. They face rising tuition and deal with the limited dollars from the state and federal governments, she said.

Penn State ranks last in the Big Ten for the amount of state appropriations it receives. Last year the University received $259 million, which was $10 million short of its request. The Big Ten average is more than $325 million.

But the corporate abilities that many university governing boards look for do not replace academic qualities -- the combination of the two can make for a difficult position.

"My view is that significant corporate responsibilities have been added, instead of replacing academic responsibilities," Thomas said. Governmental functions also play a part.

Thomas said the University should choose a replacement who can effectively take on both sides of the job, adding, "first and foremost, that person needs strong academic credentials."

Heightened publicity about the toll a presidency can take on a person occurred when Harvard President Neil Rudenstine abruptly announced he would take a leave of absence due to fatigue. But Thomas said the fatigue Rudenstine experienced did not come from fund raising alone, and the Penn State presidency is not totally consumed by fund raising -- although it is a chunk of it.

"I don't see myself as just a fund raiser," Thomas said. "If a president feels that way, they must have somebody else doing the president's work."

On top of fund raising, the president must lead the overall direction of the institution through efforts including recruiting and interacting with faculty and making sure the University meets students' needs.

"If you're just a fund raiser, you're missing the purpose," Thomas said.

Because universities have limited funds, the president must be on the road raising money and keeping alumni relations, Taylor said.

"It is a harder and more stressful job than it was a few years ago," Taylor said.