In October 1971, the Flat River Historical Society finalized a lease and founded the museum, which opened in 1972. In 1977, the former Central School was demolished, and the original 1912 clock was donated to the museum and mounted on the façade in place of the former upper door. In 2012, thirty five years after its installation, the "Centennial Clock" was returned to the school district for installation at the new Legacy Field. To replace the clock, the museum arranged for local resident Jack Bailey to design and build a stained glass scene of John Green surveying the land and river.