The Calumet Theatre Company was incorporated in 1983 as an independent, non-profit organization to program events and encourage continuing restoration. The Calumet Theatre is owned by and leased from the Village of Calumet. The Calumet Theatre Company assumes responsibility for all operating costs for the facility.
In the absence of local tax support, it is funded by ticket sales, user fees, the State of Michigan through the Michigan Council for the Arts and Cultural Affairs, membership dues, and other fund-raising activities. The Theatre Company is a member-supported volunteer-based organization (500-plus members) with a nine member Board of Directors, eight employees and over 70 volunteers.