The Foundation's bodies are: the General Council, the Board of Directors and the Single Auditor.

The General Council is made up of the president, Professor Susana Mira Leal and the members, Professor Suzana Nunes Caldeira, Prof. Doctor Francisco Cipriano da Cunha Martins, Prof. Doctor Adolfo Fernando da Fonte Fialho and Doctor Artur José Freire Gil vice-rectors, Professor Doctor Alfredo Emílio Silveira de Borba, representative of the presidents of the organic teaching and research units, Professor Doctor Paulo Vieira Borges, representative of the directors of the research and development units , Professor Doctor Vasco Manuel Verdasca da Silva Garcia, 3rd rector of the University of the Azores (UAc), Professor Doctor Avelino de Freitas de Meneses, 4th Rector of the UAc, Professor Doctor Jorge Manuel Rosa de Medeiros, 5th rector of UAC, Professor Doctor João Luís Roque Baptista Gaspar, 6th rector of UAc, Dr. António Bensaúde de Castro Freire, Professor Doctor Roberto de Sousa Rocha Amaral and Dr. João Paulo Alvão Serra de Medeiros Constância, individuals designated under the terms of paragraph h ) of number 2 of article 10 of the FGF Statutes.

By extraordinary deliberation of the General Council, on January 26, 2023, and based on a reasoned proposal from the Rector of the University of the Azores and President of the General Council of the FGF (Professor Doctor Susana da Conceição Miranda Silva Mira Leal), the Prof. Doctor José Noronha Rodrigues, as President, Prof. Doctor Vítor Manuel da Costa Gonçalves, as member and Master Carla Cristina Soares Ramalho, as member with executive functions, subsequently elected Vice-President, at a Board of Directors meeting on February 27, 2023, date on which this deliberation extraordinary effect.

The sole auditor is appointed by the General Council on a proposal from the rector of the University of the Azores, from among official auditors or audit firms. He is currently represented by the Society of Chartered Accountants UHY & Associados, SROC, Lda., in the person of Dr. Manuel Luís Fernandes Branco.