St. Stephen's College is a minority co-educational institution owned and run by the Corporate Educational Agency of the Knanaya Catholic Arch-Diocese of Kottayam. Arch-Bishop Mar Mathew Moolakkattu is the Patron of the college. Rev. Fr. Alex Akkaparambil, the Manager, is the ex-officio President of the Governing Body. The Principal is assisted by the Bursar, the Vice-principal and the College Council in administrative and academic matters.