Frank Phillips's former home is a museum maintained by the Oklahoma Historical Society. His ranch and retreat about southwest of Bartlesville is called Woolaroc (a portmanteau of the words "woods", "lakes", "rocks"). A working ranch of , Woolaroc houses a museum exhibiting Phillips's extensive collections of Native American, western, and fine art. It holds one of the most complete private collections of Colt firearms in the world. The property includes the Phillips family's lodge and mausoleum, along with a huge wildlife preserve with herds of American bison, elk, Texas longhorn cattle, water buffalo, zebra, and more than 20 other animal species.