Panel Works, PiccininiThe Lyon Foundation was established in February 2012 as a new Australian not-for-profit public art museum.

The Foundation's charter is to support and promote contemporary art, with a particular focus on Australian contemporary art practice.  One of its key objects is to build and preserve a permanent collection of Australian contemporary art and to exhibit works from the Foundation collection in a purpose designed museum. 

The Foundation is governed by an independent board of directors who have oversight of its operations and have responsibility for the maintenance, preservation and exhibition of the permanent Collection.  

The Foundation is currently preparing plans for a new museum building to be constructed on land owned by the Foundation at 217 Cotham Road, Kew.  The museum will open to the public six days each week, commencing in early 2018. 

Pending  completion of the new museum building, the Foundation is lending key works from its Collection to other public art museums and institutions so that they are available for public viewing. Recent artwork loans include loans to the National Gallery of Victoria and the University of Queensland Art Museum.