For this report, the Board assessed the Institute's progress in three areas: 1) Establishment of research priorities to guide its investments into the next decade; 2) Creation of a rigorous peer review process for grants applications and reports; and 3) the Institute's efforts to ensure its work is useful to practitioners and policymakers. Findings include: (1) The Institute has developed clear research priorities that provide a strong, long-term guide for its work; (2) Significant progress has been made in funding projects that will fill gaps in information; (3) The Institute has implemented standards and procedures for reviewing and approving grants and IES reports that are of high merit and are comparable to those of the National Science Foundation and the National Institutes of Health; and (4) The Institute has initiated a number of activities to assure the relevance of its work for policy and practice. The National Board for Education Sciences concludes that the vision Congress had when it created the Institute for Education Sciences is being realized. (Contains 1 footnote and 3 tables.)