The Board of Trustees of the IFM is a group of volunteers who preside over the nonprofit educational foundation. Their duties are to manage, supervise and control the business, property and affairs of the Institute. The Chairman of the IFM is appointed from among the Board of Trustees for a one-year term, while other board members serve for a term of up to three years and may be re-elected to successive terms of office.  The FIA Chairman, the President and CEO of the FIA and the President and CEO of the Institute serve as ex officio members of the Board.