The McGraw Historical Society was established at 5 Main Street, McGraw, New York in 1976. Mrs. Lucille Kullman and Mrs. Gloria Ackroyd were active members of the committee which started the local museum for the 1976 Bicentennial celebration. Many items of the original collection were gifts and records which had been given to or collected by the Lamont Library. The Library Board agreed that the historical society could use space in the attic on the second floor of the library for its display area. As interest grew, more gifts were given by local McGraw residents. The committee to manage the collection continued to grow also. The history museum room was open evenings and Saturdays during the spring and summer. For about five years the museum was operated in this informal manner. In May of 1982 the museum committee received a charter from the State Education Department to operate as a museum. However interest waned, and rules for continuing to operate as a museum became more strict, and in May 1990 the museum and historical society were legally disolved, and all assets of the association were transferred to the Village of McGraw. The same group of volunteers continued to operate the history room. Time and age took a toll on interest and activity slowly came to a halt. In the early 2000s the Library Board and Director began studying and preparing for a remodeling and redecorating capitol project. It was at this time that consideration was given to reactivating the historical society and constructing a new addition at the rear of the library building to house the collection. The Village Board approved the plan with the understanding that funding had to come from sources other than Village taxes and Village budget. A capitol fund raising effort was successful, the library completely redecorated, and a new addition of a handicap ramp and local history room constructed. On June 20, 2006 the Village Board adopted a resolution appointing the McGraw Historical Society as an official committee to care for and preserve the collection of artifacts and memorabilia owned by the village.