The Friends of Fair Park is a member-supported advocacy group for Fair Park preservation, restoration, and programming. 

The Magnolia Lounge was built in 1936 by the Magnolia (later to be Mobil) Oil Company. Visitors to the Centennial Exposition used the lounge as a resting place where they could watch films and enjoy continuous entertainment.

In 1947, the Magnolia Lounge took on a new life as theater artist Margo Jones' professional, regional theater, where plays were staged "in-the-round." Over the next years, Jones produced 85 plays in the theater, including an original work by a then-unknown playwright named Tennessee Williams.

During the 1980s and 1990s, the lounge functioned as a visitors center for Fair Park.

Today, the building houses the offices of the Friends of Fair Park. In addition, the Margo Jones Theatre space stages plays and can be rented by outside organizations.