Founded in 1960 as Historic Landmarks Foundation of Indiana by a volunteer group of civic and business leaders led by Indianapolis pharmaceutical executive Eli Lilly, it has nearly 6,000 members.

Regional offices are located in South Bend, Gary, New Albany, Aurora, Evansville, Cambridge City, Wabash, and Terre Haute.

Though the Morris-Butler House no longer operates as a museum, it is part of the Indiana Landmarks Center campus and functions as an event and rental facility.

[citation needed] One of Indiana Landmarks' largest projects was the $30 million+ restoration of the West Baden Springs Hotel's exterior and public spaces.

Circumstances that cause properties to be named to the list generally involve one or more of the following factors: demolition threat, abandonment, neglectful owner, dilapidation, obsolete use, lack of money for repairs, unreasonable above-market sale price, out-of-the-way location, or encroaching sprawl.