Housed at first in a purpose-built museum building in Chapel Street, Kimberley, and spreading to occupy further spaces in the city, the museum was, and still is, governed by a Board of Trustees, aided financially by the Kimberley municipality (up to the 1950s), then by the Cape Provincial Administration and, today, by the Northern Cape Administration through the Department of Sport, Arts and Culture.

The McGregor Museum operates as a Provincial Public Entity (as of April 2014), governed by a board of trustees.

It was originally aided by the Kimberley Municipality, De Beers and many donors (from 1907); then by the Cape Provincial Administration (from 1958); and, from 1994, as a Province-aided Museum receiving an annual grant from the Department of Sport, Arts and Culture, Northern Cape Province, which also employed the staff of the museum.

Most of these fields are represented by professional staff and collection managers, and the collections and associated research programs are reflected in permanent and temporary exhibits in various sections and buildings of the museum as well as in outreach programs in the province and displays in smaller museums.

For the duration of the Siege of Kimberley (14 October 1899 – 15 February 1900) during the Anglo-Boer War, Cecil John Rhodes lodged in rooms at what was then the Sanatorium.