The Foundation is run by a board of directors, consisting of community members, many of whom have children who have finished or are in St. Louis Park schools. There are approximately ten directors although the constitution and by-laws allow for more. The board is supported by volunteers who contribute time and effort for specific purposes.

The Foundation maintains two funds, one an endowment fund and the other an operating fund. Both are maintained through the Minnesota Community Foundation. The endowment fund provides for long-term support while the operating fund is used for annual grants.

The Foundation works closely with the St. Louis Park Community Foundation but does have a separate purpose.