This paper describes the creation of the National Assessment Governing Board (NAGB) in 1998 and examines the background characteristics of the Board members and their attendance at NAGB meetings. The staffing and financing of the NAGB and the relationship between the agency and the National Center for Education Statistics is also considered. The paper also explores two of the major issues addressed by the NAGB: the reporting of state-level National Assessment of Educational Progress (NAEP) data and the setting of student performance standards. The paper concludes with some observations about NAGB development and its functioning during the past 10 years and some recommendations for improvements. The NAGB and the NAEP have played an important role in telling how well U.S. children are doing in school and defining what expectations for them should be. The next step is to provide the effective education that students need to reach the goals set out for them. Perfecting the operation of the NAGB and the NAEP without addressing the need for better research and development in the areas of school improvement models and classroom practices makes little sense. (Contains 335 endnotes.) (SLD)