Although the Fundación Príncipe de Asturias is symbolically founded upon the six centuries of history of the Principality, it nevertheless differs radically in its ideas and aims from the kind of foundation most commonly found in Spain. It embraces modern conceptions of a foundation, similar to those that have inspired institutions that have had an important influence in the Western world.

Being a totally private and non-profitmaking organisation, the foundation is supported by returns on its resources, and by subsidies and yearly donations made both by the members of its Board of Trustees and by persons and organisations that collaborate regularly or sporadically with it.

The Honorary President of the Foundation is H.R.H. the Prince of Asturias, Don Felipe de Borbón, and the President of the Principality of Asturias is the Honorary vice-president.

The Board of Trustees of the Foundation has some twenty personalities on it, and is responsible for deciding what activities to become involved in, for approving budgeting, for establishing criteria for action, and so on. The foundation also boasts a consultative, honorary Board of Trustees, The Prince of Asturias Board of Trustees, made up of all those people and institutions that in one way or another collaborate with the aims of the Foundation. Finally there are also Patrons of the Foundation, most of whom are closely linked to the Principality of Asturias, who also contribute financially to the support of the Foundation.