[3] M. Graham Clark Field was originally developed as a private airport by the College of the Ozarks for use in their aviation science department, and was originally officially associated with the village of Point Lookout, Missouri, a small village on a bluff overlooking the White River Valley which was later completely bought out and overwhelmed by the development of the college.

A private entity had contracted with the college to provide commercial airline service to Clark Field, serving Branson, in the late 1990s, but the venture failed and the terminal building, fire department building, and associated ramp were turned over to the college.

It is not unusual for approaching traffic making an initial call to refer to the airport as "Clark Point Lookout Branson Downtown Taney County .

M. Graham Clark Downtown Airport covers an area of 40 acres (16 ha) at an elevation of 940 feet (287 m) above mean sea level.

For the 12-month period ending December 31, 2011, the airport had 11,200 aircraft operations, an average of 30 per day: 96% general aviation, 4% air taxi, and <1% military.

At that time there were 68 aircraft based at this airport: 78% single-engine, 13% multi-engine, 2% jet, and 7% helicopter.

Clark Field has at times been one of the busiest general aviation airports in the region.

The runway was constructed west-northwest and east-southeast due to the terrain, creating a prevailing crosswind.