The National Science Foundation (NSF) is an independent federal agency created by Congress in 1950 "to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense." NSF has an annual budget of $6.06 billin and is the funding source for 20% of all federally supported basic research conducted by America's colleges and universities. In many fields such as math, computer science and the social sciences, NSF is the major source of federal backing. (http://www.nsf.gov/about accessed on Oct 12).
NSF supports all field of fundamental science and engineering except for the medical sciences. The goal is to keep the US on the "edge of discovery in areas from astronomy to geology to zoology." (http://www.nsf.gov ) The agency funds traditional programs as well as high-risk, high-pay-off ventures along with programs that might sound futuristic today, but show promise to reviewers. The NSF website provides extensive information about funding opportunities, current and past projects, tutorials on writing proposals, and descriptions of grants with the RFPs. Grants are provided for individual study support such as graduate research projects and for modest to very large grants to institutions for various projects.
NSF has a director who oversees the full time, permanent staff and other management positions in program creation and management, merit reviews, planning, budget and day-to-day operations. there is a board with 24 members who, along with the director, serve 6-year terms. All of these top positions are appointed by the President of the United States and confirmed by the US Senate.
Source: http://www.nsf.gov
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