The grant review board is nominated by financial partners (3 nominations) and the two founders, Kristinn Hróbjartsson and Kristján Mikaelsson. The review board votes on all applications. A simple majority rules, and all votes are equal.
The operators are responsible for all operational parts of the fund: keeping the books, wiring the money, maintaining the website and so forth. The operators, Kristinn and Kristján, are also the founders of the fund.