The Science Foundation for Physics, established in 1954, was originally known as the Nuclear Research Foundation. It was not just the first foundation set up within the University of Sydney - the Science Foundation for Physics was the first within the entire British Commonwealth. Currently there are over 40 active foundations within the University. As a University foundation, the Science Foundation for Physics is responsible to the University Senate.

The major and strategic decisions regarding the Science Foundation are made by the Foundation's Council. The members are representatives of business and industry, community leaders and senior office holders and academic staff of the University of Sydney. The President and Deputy President are elected by the Council and each holds a four year term of office. The Council is elected at the Foundation's Annual General Meeting, and the Council may ask the University's Senate to approve Life Governor status to recognise outstanding service to the Science Foundation for Physics.

The Foundation's activities are directed by a structure of committees.
These are the:

• Development Committee suggests strategic initiatives to Council to best fulfill the Foundation's aims.
• Finance Committee oversees the finances of the Foundation including budgeting, managing investments and monitoring expenditure.

Other committees are set up as needs dictate. The Foundation manages its funds to maintain and -- where possible -- to increase the real value of its capital, ensuring that its support of the School of Physics grows with time. Responsibility for day-to-day decisions and running of the Foundation rests with the Director, Professor Anne Green, the Executive Officer, Mr Adam Selinger, the Community Relations Manager, Ms Alison Muir, and the Education & Administration Officer, Ms Alex Viglienzone.