The main purpose of the Crafoord foundation is to support and promote scientific research and education, which has been done successfully since 1980. In this presentation we will describe the history behind the creation of the foundation and its development into the present modern Crafoord foundation. The main research grants as well as other grants and prizes, such as the Crafoord Prize, will be described in some detail. The strategy on how to manage a large research foundation successfully will be touched upon and the visions for the future of the Crafoord foundation will be outlined.