ASB is organized and operated on a non-profit basis. Virtually all operating revenues are generated from the student fees. The school receives limited assistance from the United States government in the form of an annual grant.
ASB American School of Bombay is managed by the American School of Bombay Education Trust set up under the terms and conditions laid down by the Ministry of External Affairs, New Delhi.
The school is governed by a Board of Trustees elected by the parents and faculty for a two-year term. The American Consul General is the Chairman of the Board of Trustees.
The Board of Trustees is composed of eleven community members - eight are elected, two are appointed by the Board Chairman. The Board oversees the governance and direction of the school by holding regular meetings, retreats, and being actively involved in committee work.