The Society for Medicines Research is a registered charity and the officers of the Society (Chairman, Vice-Chairman, Honorary Secretary, Honorary Treasurer and Media-relations Officer) are also the charity trustees. The trustees are jointly responsible for setting the strategic aims, objectives and direction of the Society. This includes, for example, the overall management and decision making of the Society such as recommending changes to the rules or recommending new officers for the Society and approving the appointment of new members of the Committee.

As well as attending the quarterly meetings of the committee, the trustees also meet together at least once a year to ensure that the business of the Society is conducted within the law and in accordance the governing document of the Society. The SMR completes an annual return for the Charity Commission of England and Wales which gives information about its activities and accounts.