The activities of the Foundation are directed by a board of 34 governors, nominated in consultation with its founding bodies, the Canadian Bar Association and the Chartered Professional Accountants of Canada. Governors are elected for a one-year term by the members present at the annual general meeting and generally serve for 3 years. The elected board represents all regions of Canada, the accounting and legal professions, and other tax-focused disciplines, and reflects diversity of specialization and of business organization. The board carries out its work through an executive committee (which includes the Foundation's full-time Executive Director) and several other working committees concerned with research, conferences and other events, membership, finances and government and community relations. A nominating committee in consultation with the Foundation's director prepares the slate for the election of a new board each year.
Support from the business and academic community is essential to maintaining the Foundation's independence and impartiality, to sustaining a research program that will continue to be responsive to a constantly changing fiscal environment, and to developing new ways of communicating tax information in an increasingly sophisticated technological workplace.
Membership subscriptions, TaxFind subscriptions, conference and seminar fees, publication sales, and separate financial support from individuals and corporations all contribute to the Foundation’s success. The Foundation receives no funding or other assistance from government.