The Alabama School of Fine Arts operates under Code of Alabama, Section 16-26B-3, which establishes the school. The school operates on annual appropriations from the Alabama Legislature. The school’s Board of Trustees approves policy and employs the school’s Executive Director, who directs school operations.

In 1976, the school created a private, non-profit support organization—the Alabama School of Fine Arts Foundation—to enlist private sector assistance to address school needs. The school’s Board of Trustees appoints members to the Foundation’s Board of Directors, which approves foundation policy.  A Director of Development directs foundation operations and reports to the ASFA Executive Director.