Yes, it is a wood backing.
So, it dates from the 40's? And back then someone put the photo in it within the metal frame as well?
Awhile back I saw someone selling an almost identical frame with a different photo in it on eBay for $1,000, I think, claiming that the frame AND the photo were way older than that, which I seriously questioned. Either the guy was totally off base or he was pulling a scam.