The Foundation is managed by an executive director, Sheila Schwartz, and a board of directors: Prudence Crowther, Ian Frazier, Megan Fox Kelly, and Jeffrey Hoffeld; John Hollander, director emeritus.
Following the provisions of the Will, Saul Steinberg's collection of his own works was divided between the Foundation and the Beinecke Rare Book and Manuscript Library, Yale University, which also received Steinberg's archives. The Foundation holds the copyrights to Steinberg's artworks and writings.
All the artworks are entered in the Foundation's database, with images, complete registrarial information, and thematic keys. The Foundation uses this resource as well as other data compilations to assist and encourage students, scholars, and curators in research and exhibition projects. The works owned by the Foundation are also available for inclusion in museum exhibitions.