The Eclipse Tools Project is an open source project of the Eclipse Foundation. It is overseen by a Project Management Committee (PMC) but each project is ran relatively independently and overseen by the project's leaders. The Eclipse Tools Project Charter describes the organization of the project, roles and responsibilities of the participants, and top level development process for the project.
Please see the project master list for a list of all the exciting projects under the Tools PMC. Many of the best and most useful projects at Eclipse are here.