The Falls Creek Historical Society is committed to ensuring the collection, preservation and interpretation of the unique history of Falls Creek and the Bogong High Plains by way of interactive and informative displays and detailed archiving. There is a desire to stimulate community interest and involvement in telling the distinctive Alpine history. Alongside the comprehensive museum collection, there are plans to undertake artistic and diverse methods of storytelling such as curated walks, village history trails and pop up museum displays.

The Falls Creek Historical Society will collect items that directly relate to the establishment of the Falls Creek region and village, the stories of Falls Creek pioneers and the activities undertaken by them. Items will be collected that relate to the skiing history of the village, the establishment of its businesses, the history of the lodges and accommodation, the history of the Bogong High Plains, the flora and fauna of the area, the indigenous history of the region and the history of the cattlemen. The collection will also include equipment and items that relate to the above-mentioned areas of interest.