FQ is governed by an all-volunteer, working Board of Directors. Its bylaws allow up to 25 directors; typically, there are 15 or so Board members, most of whom live in the Washington, D.C. metropolitan area and are RPCVs from the DR or former Peace Corps/DR staff. FQ's Board raises and accounts for funds, considers and decides on grant and scholarship requests of more than US$500, sends out newsletters, and maintains FQ's online presence.

The bulk of FQ’s grantmaking activities are carried out in coordinated fashion through FQ's Local Committee in the DR, whose members are RPCVs. The Local Committee receives and screens applications and makes final decisions on requests up to US$500. Once applications have been decided on, the Local Committee takes charge of informing applicants of the outcome and, through the Instituto Dominicana de Desarrollo Integral (IDDI), a local nonprofit partner, facilitating grant and scholarship disbursements. The Local Committee organizes and forwards to the Board progress reports from the awardees.