Organized as a corporation with a corporate structure, OPIC is governed by a Board of Directors, President and CEO, and Executive Vice President, all nominated by the President of the United States and approved by the U.S. Senate. The majority of the Board of Directors, including its president, are "drawn from private life and have business experience." Although it operates on a self-sustaining basis at no net cost to American taxpayers, OPIC is appropriated administrative funding, and reauthorized on a regular basis, by the U.S. Congress.