CMSA has legal status as a charity. It is therefore governed by provincial laws and those of the Canada Revenue Agency.
CMSA receives the majority of its funding from the Ontario Ministry of Health.
The Board of Directors of the CMSA has a monitoring and control role as well as a support role for the general management. It approves the operating budget and financial statements and ensures that funds are properly invested and spent. The Board approves the rules of governance, the mandate of the Board and the committees, as well as the policies it wishes to implement. The Board is in a way the "guardian of good practices". The Board also ensures that the rules of the organization are relevant and makes recommendations to the members to modify them if necessary.