It's being called "The Columbia Shuttle Trust", and it's designed to give the families of the seven astronauts who perished in the breakup of Space Shuttle Columbia some financial security for the future.
Astronauts are not able to get life insurance policies, so the fund is seen as helping the families of astronauts who've already died and those who might be lost in the future.
Former astronaut Charles Bolden says the trust is being supported already by a combination of leaders from Hollywood and the space industry. One goal is to give at least one million dollars, tax free, to the families of each of the Columbia crew members. Congress would have to go along.
The fund is also soliciting money from the general public.
Sunday marks the one-year anniversary of the loss of Columbia.
(Information can obtained on the Internet at www.columbia7trust.org or by calling toll-free at 1-877-99-SPACE (997-7223))