Incorporated in 1948 in DE - A multi-millionaire oil operator, drilling contractor, and rancher, Mr. Mabee founded the Mabee Petroleum Corp. and held numerous stock investments managed by Mabee interests in Tulsa, OK. Mr. and Mrs. Mabee created the foundation to handle their philanthropic activities; through it, they donated millions of dollars to educational, medical, and charitable organizations during their lifetimes After the death of Mr. Mabee in 1961, the foundation was named the principal beneficiary of his estate which consisted of shares in Mabee Royalties and Mabee Investments. In 1965, Mrs. Mabee died and left the bulk of her estate to the foundation