In March, 1986, the National Science Foundation (NSF) commissioned a study designed to assess initiatives available to NSF to address problems and opportunities in K-12 science education. The first part of this volume presents a detailed discussion of "core functions" for the NSF in K-12 science education (promoting professional interchange, building the base of information and knowledge about science education, and supporting innovation). Part 2 of the document discusses the basis for strategic investment in three key areas. These are: (1) designing initiatives; (2) developing an overarching strategy; and (3) building NSF's strategic capacity. The volume's remaining three parts include a discussion of study methods, a summary of NSF's 30-year history of funding in K-12 science education, and three commissioned papers (regarding NSF's role in mathematics education, computer science education, and efforts to serve minority students in science). The appendix contains tables delineating the suggested initiatives to implement overarching strategies, along with resource estimates indicating the funds needed for each initiative over the next five years. (TW)