The Trust is administered by the law firm of Choate Hall & Stewart LLP. The current Trustees are John M. Cornish and Thomas H. P. Whitney, Jr., both senior members of the firm.

A Board of Advisors, created by Mr. Wharton's will, assists the Trustees in the grant-making process, and currently consists of Brian Cassie, Libby Herland, Kathleen McGrath, and Bernard J. McHugh. Former Advisors were John T. Hemenway, Hamilton Coolidge, Harold J. Coolidge, Allen H. Morgan, Dr. Gary Sanford, Tudor Richards, Whitney Beals, and Lisa Vernegaard. Many of the Advisors knew Mr. Wharton personally. All of them share his interests and represent broad experience in the areas of those interests.

Grant decisions are normally made in May and November. Wharton grants are usually of single year's duration and normally at a level of $2,500 to $15,000. However, the Trustees and Advisors are willing to make larger multi-year grants for important acquisitions of land for conservation purposes.