The Sea War Museum is a private self-governing institution that is autonomous and independent of state governance, including the Museum Act. The museum receives no operating support from the public, but is 100% financed through its own earnings, sponsors and the "voluntaries".

The Municipality of Lemvig and the Realdania Foundation have created the physical framework for the Museum by providing financial support for the restoration of the buildings in Thyborøn, while JD-Contractor A/S and a large group of "voluntary people" have created the content.

As a self-governing institution - as opposed to a private institution - any operating surplus cannot be removed from the institution, but eventual profits are reinvested. The Sea War Museum is thus a non-profit institution whose sole purpose is to support the Museum's formal purpose and vision.

The self-owned institution "Sea War Museum Jutland" has a board of directors of five people.

Chairman: Willy Thomsen

Director: Gert Normann Andersen

Board member: Rasmus Normann Andersen

Board Member: Michael Boas Pedersen

Board member: Lars Froberg Mortensen

Secretary: Bitten Dahl Knudsen

The Board of Directors formally runs the institution and appoints the Museum director and issues the overall guidelines and makes the financial decisions.

The museum's day-to-day management consists of:

Director: Gert Normann Andersen

Museumscruator: Christian Toftgaard