Professor Gorachand Patnaik, an eminent educationist of the state and a former principal of Ravenshaw College, is the founding Vice Chancellor of the university.

FM University is functioning in two campuses: the old campus at Januganj, besides the National Highway near Remuna Golei (at 21°30′22″N 86°53′28″E / 21.50614°N 86.89101°E / 21.50614; 86.89101, around 3 km (1.9 mi) from Balasore bus stand and railway station) and the new campus at Nuapadhi (at 21°32′38″N 86°48′57″E / 21.5440°N 86.81592°E / 21.5440; 86.81592, around 15 km (9.3 mi) from Balasore bus stand and railway station).

In March 2021 Union minister Pratap Chandra Sarangi inaugurated New Marine Bioresource and Biotechnology Centre at the university's Balasore campus.

There is a centralised computer centre, central library with Internet connection (12 hrs open).

Welfare facilities include UCO bank, two ATMs (SBI and UCO), one canteen, a common gym for both boys and girls, a mini indoor stadium, one cricket field, one volley field, one boys hostel, two girls hostel, staff quarters and a guest house.