The original Coiste an Asgard was first formed in 1968 and is now a company limited by guarantee set up under the Companies Acts in February 1987. The Minister for Defence is, ex-officio, the chairman of the board of directors and he may appoint up to 14 other directors. No fees are payable to the directors but they may be paid travel and subsistence expenses at civil service rates.
The basic purpose of Coiste an Asgard is to promote the training of young people over the age of 16 in sailing and seamanship, particularly by the use of the sail training vessel Asgard II. Sail training cruises were carried out on the original "Asgard" each year from 1969 to 1974. Because of her historical associations "Asgard" was transferred to Kilmainham Jail Historical Museum in 1979. Her replacement, the brigantine "Asgard II", was designed specially for sail training purposes and commissioned in March 1981.
Asgard II carries out a programme of cruises each year during the course of which she visits many ports in Ireland and the rest of Europe. The duration of each cruise is usually about 7 to 10 days. She has a professional crew of five – Captain, Mate, Bosun, Engineer and Cook. Relief crews are also employed as required. She has the capacity to take 20 trainees.
The secretary to an Coiste is a Higher Executive Officer on secondment from the Department of Defence. An Coiste employs two other administrative/clerical staff. The office of an Coiste is located within the Department of Defence. Coiste an Asgard receives an annual grant-in-aid (lottery funded), which is supplemented by fees paid by the trainees. The grant was €879,000 in 2007.
Given the specific nature of the work they undertake I am satisfied that the Board undertakes an essential role and provides good value for money to the State.