According to the current Coordinator, Daniel Vestal, the "CBF was given birth after 15 years of SBC strife." The CBF was officially organized in May 1991, the culmination of a struggle between conservatives and moderates for control of the Southern Baptist Convention (SBC). Beginning in 1979 (when Adrian Rogers was elected president of the SBC) to the present, every conservative candidate for President of the SBC has been successfully elected. Frustrated moderates, who had previously controlled the presidency, begin to think of alternatives. The 1990 Consultation of Concerned Southern Baptists, held in Atlanta, Georgia, preceded the organization of the Cooperative Baptist Fellowship and helped pave the way for its formation.
According to Vestal, the CBF "...differ[s] organizationally, philosophically and intentionally from the old models." Membership in the Fellowship is made up of individual Baptists, Baptist churches (and members of these churches) who contribute annually to the ministries and operations of the Fellowship. All members are entitled to vote at the General Assembly, which meets annually. Governance of the CBF is guided by its Constitution and By-laws. The General Assembly elects a Coordinating Council, which meets three times a year to plan missions and ministries. This council is led by a moderator, who is elected annually by the General Assembly. There are 19 state and regional organizations affiliated with the Cooperative Baptist Fellowship. The primary offices of the CBF and a Resource Center are located in Atlanta. The operating budget of the CBF for 2002-2003 was 19.3 million dollars. Around 1,700 churches contribute to the Fellowship's budget. The "fellowship!" newsletter is published 10 times per year and is distributed at no charge to those who request it.
The CBF operates with a very ecumenical outlook and seeks partnerships with other Baptists and other Christians. Despite its resistance to becoming a denomination, the Fellowship applied to and has recently been received as a member of the Baptist World Alliance.