Funds from Asian Mosaic Fund members and other contributors are collected by The Philadelphia Foundation, where the Asian Mosaic Fund is a donor-advised fund. The funds are professionally managed by The Philadelphia Foundation until donations are granted to nonprofit organizations as directed by Asian Mosaic Fund members.

Funds donated by individuals are also matched by philanthropic institutions and corporations, including Asian Americans/Pacific Islanders in Philanthropy and The Philadelphia Foundation.

Total donations by individuals, along with matches from philanthropic institutions and corporations, create the Asian Mosaic Fund and its annual grantmaking. Grant selection is made by the collective approval of individual members who donate $250 or more.