WMI is governed by a Board of Directors of not fewer than nine, nor more than 24 Directors. The Board of Directors is responsible for managing the affairs of WMI, including formulating policies and ensuring those policies are implemented effectively and efficiently. WMI also includes a six-member Ex Officio Board of Directors. The Officers of WMI include a President, Vice President, Secretary, and Treasurer, which make up the Executive Committee of Wabash Marketplace. An Executive Director is employed on a part-time basis and is the only officer who is compensated.

WMI is an affiliate member of Indiana Main Street. Indiana Main Street is a division of the National Trust’s Main Street Program which successfully combines historic preservation and economic development in local revitalization initiatives . Over the last 20 years, the Main Street Approach to revitalization has generated nearly 70,000 building rehabilitations, and more than 174,000 jobs.

Communities like Wabash experience an average investment of over $5 million, with a return of $35 for every $1 spent on operating the local program. The average cost per job generated is just $2,179 and cost per business created only $6,553. These figures make the Main Street Approach one of the most powerful economic development tools in the nation.

The Committee structure of Wabash Marketplace is organized around the four points of the Main Street Approach which are:

Economic Restructuring - Strengthening Downtown Wabash’s existing economic base while finding ways to expand it to meet new opportunities.

Design - Enhancing Downtown Wabash’s physical appearance by rehabilitating historic buildings and managing design improvements and new construction.

Organization - Building consensus and cooperation among the many groups and individuals who have a vested interest in Downtown Wabash, and a role in the revitalization process.

Promotion - Marketing assets of Downtown Wabash to customers, residents, potential investors, new businesses, and visitors.

WMI is also an affiliate member of the Historic Landmarks Foundation of Indiana and a member of the National Trust for Historic Preservation.