This report presents an overview of research and development (R&D) in science and engineering (S&E) fields performed at institutions of higher education in the United States, including historical trends and recent patterns. The report first examines the financing and performance of R&D at universities based on patterns in funding and spending, then discusses the physical infrastructure required to enable and sustain academic R&D. The final section addresses the human resources engaged in academic R&D, particularly the graduate students and postdoctoral researchers (postdocs) who perform academic R&D under the supervision of faculty and full-time research personnel. [For "Academic Research and Development. Science & Engineering Indicators 2022. NSB-2021-3," see ED615448.]