Who regulates the sport of gymnastics? 
 

Have you ever heard of the NBA? How about the PGA or the NFL? Of course you have. But what association manages gymnastics?

The USAG (USA Gymnastics) regulates the sport. They, along with the FIG (Fédération Internationale de Gymnastique) define the rules and skill values for competition. Gymnasts invent new skills, and these legislative bodies assign a value for it.

The former name of the USAG was the USGF (US Gymnastics Federation). I liked that name better, however I am unaware of the reason it was changed.