This report presents results of a survey of participants in the National Science Foundation (NSF) Industry-University Cooperative Research Centers program. The program promotes more rapid technological innovation by creating linkages between industry and university scientists. The Centers function as university research groups, with partial funding, policy guidance, and project monitoring carried out by a group of industrial firms. Data from 133 industry and 65 faculty participants are analyzed and categorized into five variable domains: descriptors, prior contact/center initiation, current operations, goals, and outcomes. Results indicate that: (1) Centers are built on new, rather than pre-existing relationships and represent a shift away from predominantly consulting relationships; (2) Centers are operated using a shared influence model; (3) faculty and industry are in agreement about the most important goal (expansion of knowledge) but differ on relative importance of some intermediate goals; and (4) both industry and faculty respondents are generally quite satisfied with the Centers. The study concludes that, while the Centers do not appear to have resulted in radical changes in the structure or methodology of academic or industrial science, they do appear to function as effective technology transfer vehicles for industrially relevant fundamental research. Appendices include questionnaires, a description of variables used in the study, and results of data reduction. (JDD)