National Foundation on Fitness, Sports, and Nutrition Establishment Act - Establishes the National Foundation on Fitness, Sports, and Nutrition as a charitable, nonprofit corporation: (1) to develop, in conjunction with the Office of the President's Council on Fitness, Sports and Nutrition, a list and description of activities which would further the purposes and functions outlined in Executive Order 13265 (established the President's Council on Physical Fitness and Sports) and with respect to which combined private and governmental efforts would be beneficial; (2) to promote private organization participation in, and private gifts to support, those activities; and (3) in consultation with such Office, to undertake and support activities to further the purposes and functions of such Executive Order.
Prohibits the Foundation from accepting any federal funds.