When the Templeton Historical Museum Society (THMS) was incorporated as a nonprofit organization in 1989, it was the realization of a dream nearly 25 years old.

The first substantial gift to the society was the lot upon which the museum stands. The house that serves as the museum was donated to the society in 1994. Itself a Templeton historical landmark, the house was built by Albert Horstman, a prominent Templeton businessman at the turn of the 20th century.

The museum opened its doors to the general public on 4 July 1998. Since then the museum society has received hundreds of donations, ranging from teacups to a working Model T Ford, as well as family memorabilia from Templeton's earliest residents.

In 2003 the THMS was the recipient of a generous bequest from the estate of a former resident of Templeton. A substantial portion of the bequest was invested.