On Thu, 13 May 2004 21:38:18 GMT, in a place far, far away, "Bootstrap
Bill" made the phosphor on my monitor glow in
such a way as to indicate that:
Yes. If someone wants to fund this privately, they're free to do
so--no need to give money to NASA. BRBR
If I understand it correctly, individual Federal agencies cannot accept
funding
in grants, loans, or donations: any such money (and there is some left in
people's wills) simply goes into the Treasury.
I worked on a study for MSFC in 2002 on future propulsion options in which
we
strongly endorsed what is now Prometheus but pushed to keep funding the
BPPP as
well. So much for NASA taking MY advice 
Ok... Could those involved with the project take the results of any research
done so far and form their own non profit agency to continue the research?
Sure, if they can raise the funds.