Q is two separate entities. The Q Theatre Trust owns the bulk of the assets, being the building and facilities, and holds the lease of the theatre land from Auckland Council until 2046. Q Theatre Limited operates the facilities through a sublease for the benefit of the Trust. The Q Group consolidates both entities for audit and reporting purposes. Some board members sit across both boards.
| Q THEATRE TRUST | Q THEATRE LIMITED |
| Penelope Barr-Sellers (Chair) | Penelope Barr-Sellers (Chair) |
| Justin Lewis | Justin Lewis |
| Yee Yang 'Square' Lee | Yee Yang 'Square' Lee |
| Andrew Smith | Kylie Sealy |
Andrew Smith Vicki Caisley (Deputy Chair) |