The Academy of Motion Picture Arts and Sciences (the Academy) was organized in May 1927 as a nonprofit corporation. Its original 36 members included production executives and film luminaries of the time. This professional honorary organization of over 6,000 motion picture professionals was founded to advance the arts and sciences of motion pictures; foster cooperation among creative leaders for cultural, educational and technological progress; recognize outstanding achievements; cooperate on technical research and improvement of methods and equipment; provide a common forum and meeting ground for various branches and crafts; represent the viewpoint of actual creators of the motion picture; and foster educational activities between the professional community and the public-at-large.

The Academy consists of 15 branches: actors, animators and short film makers, art directors and costume designers, cinematographers, composers and songwriters, documentary filmmakers, directors, executives, film editors, makeup artists and hairstylists, producers, public relations specialists, sound technicians, visual effects experts and writers.

Corporate management, control and general policies are administered by the Board of Governors. This group consists of representatives from each of the 15 Academy branches. All branches are represented on the Board by three governors except the Makeup Branch, created in 2006, which has one representative. Governors are elected for three-year terms and may serve up to three consecutive terms.

The Board of Governors appoints an executive director to supervise the administrative activities of the Academy. Executive Director Bruce Davis and his staff of over 200 currently conduct the Academy's day-to-day business.

The Academy established the Academy Foundation (the Foundation), incorporated January 31, 1944, to organize and oversee the educational and cultural activities of the motion picture industry, including the preservation of its history and the promotion of its future. The Foundation is partially supported by its parent institution. It is a Nonprivate Foundation, designated by the I.R.S. as a Public Charity under section 170(b)(1)(A)(vi) of the I.R.S. Code. The Foundation, originally overseeing several branches of the Academy, currently supports the operations of the Nicholls Fellowships in Screenwriting and the Academy Grants program.

In 2006, the Academy established three additional Nonprivate Foundations, the Archival Foundation, which supports the operations of the Academy Film Archive (AFA) , the Science and Technology Council (the SciTech Council), and the Margaret Herrick Library (the Herrick); the Vine Street Foundation, owner of the facilities housing the AFA, SciTech Council and the Nicholls Fellowships, and; the Museum Foundation, owner of the property for the future Academy Museum site.