Law No 6 of 2014 concerning Village, has strengthened the authority of Village Government to regulate and manage the interests of the local government as the implementation of autonomous local government. In order to achieve the objective of village development, village institution needs to promote collaboration within stakeholders, considering the capacity constrain of village government. Related to that, leadership in village institutions is an important, as a driver to start the transformation, collecting resources, and making collaboration with other stakeholders. Ponggok village is the success story of village development by managing the nature potential of Umbul Ponggok. The development started since the new government was elected in 2006. The new village government initiate to establish BUM Desa as institution to manage village's assets. This study is aimed to analyze the role of village government's stakeholders related to village development in Ponggok. Descriptive qualitative methods were applied in this study by using stakeholder analysis as an approach. Stakeholders from village government institution were identified and classified based on their role, and then conduct stakeholder's power and interest analysis. As the result, Village Head (Kepala Desa) is categorized as a "key player" who has high degree of interest and strong influence to involve other stakeholders in developing Ponggok.