Originally established in 1946, the Oklahoma Bar Foundation, Inc. (OBF) was officially incorporated in Oklahoma on May 9, 1949. The OBF is the third oldest state bar foundation in the United States. OBF membership is comprised of those persons duly licensed to practice law in the State of Oklahoma.

The charitable purposes of the OBF are accomplished through annual grants that advance the science of jurisprudence and promote the administration of justice throughout Oklahoma. The stated mission of the Oklahoma Bar Foundation is "Advancing education, citizenship and justice for all."

The OBF is governed by a twenty-six member Board of Trustees. Twenty-one trustees are elected to three-year staggered terms. The five remaining trustees are the immediate past president of the OBF, and the president, president-elect and executive director of the Oklahoma Bar Association in office at the time, and a representative of the Young Lawyers Division appointed by the Board of Trustees and three persons terms will automatically be extended while serving as the vice president, secretary or treasurer of the OBF.

A significant portion of the funding for OBF grants is provided by donor gifts, earnings on investments, rental income, affinity programs sponsored by the OBF, and other miscellaneous sources. The remainder of OBF funding is derived from lawyer participation in the Oklahoma Interest On Lawyers’ Trust Accounts (IOLTA) Program.

The OBF holds title to the Oklahoma Bar Center located in Oklahoma City. Originally constructed in 1962, the Oklahoma Bar Center houses the administrative offices of the OBF, the Oklahoma Bar Association, and the Oklahoma Board of Bar Examiners. Extensively renovated in the mid-1980's, and significantly expanded in 1989/90, the Oklahoma Bar Center consists of approximately 46,000 square feet of office, conference and other meeting space. An extensive renovation of the Oklahoma Bar Center began during 2006 and is currently in progess.