The NSF is governed by a Board of Management, which consists of the Chairman; the Director; a member each representing the University Grant Commission (UGC) http://www.ugc.ac.lk/, the Sri Lanka Association for the Advancement of Science (SLAAS) http://www.slaas.org, The Institute of Engineers of Sri Lanka (IESL) http://www.iesl.lk The National Institute of Education http://www.nie.lk and the Ministry of Finance http://www.treasury.gov.lk and four members appointed by the Honourable Minister of Technology and Research http://www.motr.gov.lk The Director functions as the Chief Executive Officer of the foundation which has five scientific divisions.