The Australian-American Fulbright Commission is a non-profit organisation, established in Australia through a binational treaty between the Australian and United States governments in 1949 under the auspices of the United States Educational Foundation in Australia (USEFA). The program was initially funded from U.S. Government credits acquired in Australia from the sale of surplus war materials. In 1963, the two governments established the Australian-American Education Foundation as a successor to USEFA, to be funded equally by the two parties. The operational name changed to the Australian-American Fulbright Commission in 2000.