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While the Board of Advisors provided support, the Board of Control oversaw the Camp's financial operations from 1928 until 1943. It represented the interests of the early creditors, especially the debenture holders, a large proportion of whom came from the Traverse City area. Willis Pennington, from whom the Camp property was purchased, played a major role in its deliberations. When the initial debt was retired in 1943, the Board of Control ceased to exist.

Its few surviving records, 1928-1942, consist of correspondence, papers, and reports of a financial nature. They include the contractual arrangements for the first Camp broadcasts, 1930. Researchers will also want to consult: the Pennington family materials in Chronological Camp History, the Tremaine correspondence in Chronological Camp files, and the debenture files in Subject Interlochen -"Fund raising."