The William T. Grant Foundation was founded in 1936 to support strong social science research focused on "the enrichment of life, with a primary interest in people and in their adjustment to the world in which they live." Today, its funding priorities reflect this interest in research that affects young people's lives. This Annual Report includes: (1) A Letter from the President (Robert C. Granger); (2) The Chair's Report (Henry E. Gooss); (3) Parting Thoughts (Robert C. Granger); (4) Forging Common Ground: Fostering the Conditions for Evidence Use (Vivian Tseng); (5) Stability and New Perspectives during Transitions (Deborah McGinn); (6) a review of the Foundation's research interests, followed by descriptions of the Foundation's programs: Research Grants, the William T. Grant Scholars Program, the Distinguished Fellows Program, and the Youth Service Improvement Grants (YSIG); and (7) a list of new and ongoing grants. [Individual essays contain references.]