Financing at the leading 100 research universities in the United States was studied during 1975-79, along with the programmatic and resource characteristics of the institutions, using data collected by the National Science Foundation and by the Higher Education General Information Survey program. The results clearly indicate that the leading research universities receive significant shares of their funds from federal grants and contracts (mostly for research). However, without additional information about specific institutional policies that are tied to these Federal funds (e.g., in supporting tenured versus contract staff, core versus ancillary services, etc.), it is not possible to assess the true nature of dependency on federal funds. In addition, the finding that high rates of federal contract support for research appear to be accompanied by substantial amounts of funding from other, nonfederal sources, further tempers the implications of dependency on federal funds. However, the findings suggest the importance of regularly monitoring the impact of funding on research activities. Since 1960, federal research and development funds have increasingly been directed toward academically-based researchers, at the expense of industry-based research. An important linkage between research and graduate education, particularly at the doctoral level, is indicated. This association is most evident in the doctoral fields of engineering, physical sciences, and life sciences. Issues related to the study methodology and data-related considerations are also addressed, and a bibliography is appended. (SW)