Yolanda Charney was elected president of the group. The official organizational meeting was held on April 26, 1979, and Mrs. Charney continued as president of the newly organized Owasso Historical Society. Executive committee members, in addition to Mrs. Charney, were Velma Ward, Kaye Gibson, Wayne Meyer, Ruth Cooper, Dorothy Hatfield and Mary Paul Cowdrey.
During the ensuing years, the Historical Society was able to purchase the Komma Building and remodel the structure to be used as a historical museum. In 2003, the City of Owasso took over ownership, maintenance and operation of the museum. The Owasso Historical Society is still heavily involved with the museum, and members serve as volunteers, assisting in any way that is needed.