The Goatcher Foundation was established in 2004 by Margaret Goatcher. The Goatchers were long-time residents of the Tulsa, Oklahoma area. The purpose for the Foundation, as stated in its Articles of Incorporation, is "...to receive and administer funds for scientific, educational and charitable purposes, all for the public welfare..."

Trustees, presently five (5) in number, govern the Foundation. The Trustees meet periodically to receive and consider requests for gifts. While exceptions have been made, the Trustees attempt to restrict giving of the Foundation to organizations and projects that will benefit the residents of Oklahoma. Consistent with this policy, the Foundation will make substantial gifts to many different charitable and benevolent organizations.