The Babson Faculty Research Fund's five members are elected by the faculty.  Once a year, the BFRF reviews proposals from faculty members and awards, on a competitive basis, course releases and summer stipends. Throughout the year, the BFRF accepts applications for research-related expenses and makes awards as funds allow.

During the academic year, the BFRF sponsors programs to support its mission. The Research Chats feature faculty members who have completed research projects. The Chats offer a venue for faculty to share their research activities, serve as a forum for the exchange of research ideas, and, in general, promote research within the Babson community. Other programs feature speakers addressing research related topics and other topics of interest to the Babson community, and faculty members seeking feedback from their colleagues on current research projects.

The BFRF publishes a newsletter, RESEARCH@Babson College, and an Annual Report. The newsletters keep the Babson community informed about BFRF sponsored projects and initiatives, external funding and publishing opportunities, and the latest research accomplishments of faculty members. The Annual Reports summarize the BFRF awards, activities and accepted papers.