Approximately 700 outstanding Kentucky students are selected for the program each year. Students in the Governor's Scholars Program are nominated by their schools based on academic achievement, a profile of activities and honors, teacher recommendations, and personal essays. Participants are selected by a committee whose members are unaware of the names or any identifying information of the individual applicant. Representation of every public, private, and parochial school is encouraged. Most of the funding for the program is provided by the Kentucky Governor's Office.
Supplemental support is provided by contributions from the private sector.
The program is governed by a self-perpetuating board of directors made up of civic, education, and corporate leaders. They make policy decisions, select the executive director, and oversee financial operations.