The Nanton Lancaster Society was formed following the Town of Nanton's suggestion in the fall of 1985 that perhaps a group could be formed to, "take care of the Bomber" which had been on outside display for twenty-five years. At this time virtually no one had been in the aircraft since it had arrived and very little was known, in Nanton, about the Lancaster or the history associated with it.
A core group was formed and an inaugural meeting was held in March, 1986. Various committees were formed and by May some Lancaster related artifacts were on display and Lancaster T-shirts and caps were for sale in the Tourist Information Booth next to the aircraft. The founding members had also made the decision that the best way to, "take care of the Bomber" was to have it become the centrepiece of an air museum.
Society members soon took on the challenge of building the Nanton Lancaster Society Air Museum, a sizeable undertaking for a community of 1700 people. Its goals were to be the honouring of those associated with Bomber Command during World War II and the commemoration of the activities of the British Commonwealth Air Training Plan in Alberta.