The Academy is led by its members. The Board of Directors, Council, Trust, Governance Committees, and President are all members of the Academy. The leadership of the Academy is guided by the Academy Bylaws and informed by a recently-completed Strategic Plan. The Academy's Audited Financial Statements and Form 990s are available online.

The Board oversees the governance of the Academy and has fiduciary responsibility. The committees of the Board include an Executive Committee, Nominating Committee, Audit Committee, Finance Committee, Investment Committee, Prize Committee, Institutional Policy Committee, and Compensation Committee. In addition to these committees, the Board is advised by two other governing bodies.  

The Council advises on the academic work of the Academy, including membership selection, projects and studies, publications, archives, and other programmatic matters. The committees of the Council include the Committee on Studies and Publications, Committee on Membership, and the Committee on International Activities. The Committee on Membership is further supported by twenty-seven section panels, and the Committee on Studies and Publications is further supported by Program Advisory Committees for each of the five program areas.  

The Trust advises on matters that include determining how to think about and measure the impact and influence of the Academy’s substantive work, development, communications, and public relations. The Trust may also be consulted on other matters, such as regional activities and membership engagement. The Development and Communications Committee reports to the Trust. 

The Academy welcomed President David Oxtoby in January 2019, after Jonathan Fanton completed his five-year term in 2018.