To leverage expertise and efficiencies in implementing educational technologies, higher education leaders often create centralized service organizations or inter-institutional partnerships. Defined as "academic collaborations," these organizations foster inter-institutional partnerships that share resources to increase institutional capacity for, sharing of, and access to technology-mediated courses and programs. This paper surveyed academic collaborations to gain insight on effective models used to finance their activities. In late 2007 and early 2008, WCET (WICHE Cooperative for Educational Technologies) and the WICHE (Western Interstate Commission for Higher Education) Policy Analysis and Research unit targeted 85 academic collaborations with a survey, seeking input on the amount and sources of their funding. Thirty-nine organizations responded, resulting in a 46 percent response rate. Of the original 85 targeted organizations, eight appeared to be defunct and another six appeared to be operational, but no current contact person could be found for them. The survey expanded on prior research models by including Canadian and interstate collaborations that were not part of earlier studies. The following policy implications arise from observations based upon the survey responses: (1) There is no one best financial model; (2) Evolve or dissolve; (3) Diversify or focus; (4) Few and fewer funding choices; (5) Donated is not free; (6) Beware of the politics; and (7) Fasten your seat belts, it's going to be a bumpy economic ride. Appended are: (1) Survey Instrument; (2) Emails Sent to Potential Respondents; and (3) Survey Respondents (Academic Collaborations). A glossary is included. (Contains 5 figures, 21 tables and 14 endnotes.)