Considering Butcher et al.'s (2011) call to create more transformational school-university partnerships that are truly collaborative and mutually beneficial, the purpose of this study was to document classroom teachers' perceptions of their partnership with a large, research intensive university. Utilizing survey methodology, 156 teachers across four partnership schools described their understanding of the relationship and the perception of the benefits to their school and classroom. Overwhelmingly, participants recognized the partnership as beneficial but described the relationship as transactional. Findings suggest that both partners receive benefits, but efforts to effect change through shared goals and collaboration are not a primary focus. Transformational partnerships provide the structure for sustainability and impact that is needed to support the idea of a mutually beneficial partnership.