In this report are described projects and activities undertaken by ACTION's volunteer programs in 1974. After an introduction that notes accomplishments of the past year, a review of domestic operations discusses such programs as VISTA, University Year for ACTION, National Student Volunteer Program, Foster Grandparent Program, and others according to the 10 regions of the country. The next section on international operations focuses on Peace Corps activities in Africa, Latin America, and North Africa, Near East, Asia and the Pacific. Multilateral programs under the responsibility of the Office of Multilateral and Special Programs and the School Partnership Program are then briefly considered. A financial statement is provided. (YLB)