While the Big Horn Academy was established in 1907 with the construction in Cowley of a stone schoolhouse, the present stone building wasn't constructed until 1916, at a cost of $40,000, replacing that original building. Finally completed and opened for classes in 1919, the academy was essentially dissolved in 1924 when the school was transferred to School District No. 28, thereafter to be known as the Cowley High School. The large log building beside the stone schoolhouse was a WPA project built for $10,000 in 1936 as a gymnasium for the school. Since its construction, however, the building has served the community as a community hall as well as a gymnasium.
When the school was closed in 1985 the gymnasium became solely a community hall. As the major meeting space for Cowley and surrounding towns, it has witnessed public meetings and events, political rallies, family gatherings, weddings and funerals, class reunions, dramatic productions, dances, and even prize fights. Although the log gym had been used for storage for many years, the Town of Cowley completed renovations in 2015 to make it available once again for community use. Baskets at each end of the large room, a painted court on the floor, fixed bleachers, and pendant light fixtures indicate its principal use as a basketball court, though the facility continues to host much more than athletic events.
Today the sandstone schoolhouse is used as an administration building by the Big Horn County School District #1.