This study examines the distribution of applicants for small grants, the consequences of being funded, and the processing of proposals. The sample included every applicant submitting a proposal in fiscal 1968. The following data were collected: 1) questionnaires from applicants, both funded and not funded; 2) factual material from proposals submitted; 3) questionnaires from field readers; 4) field reader ratings of proposals and funding recommendations; 5) interviews with the Directors of Educational Research at the nine regional offices. The report is organized according to the life-history of a research project--from submission of the research plan through dissemination of the findings. Chapter headings are 1) the applicant and his institution, 2) the successful applicant, 3) the proposal, 4) developing the proposal, 5) processing the proposal, 6) effects of the research, 7) appraisal of the program, and 8) conclusions and recommendations. A major conclusion is that the Regional Research Program is successful in its goal of identifying and supporting less established researchers. (Appendixes contain a comparison of respondents and non-respondents to the applicant questionnaire and the field reader questionnaire, tables not included in the body of the report, the questionnaires, and the codebook containing the frequency distribution of responses to each item.) (Author/RT)