The founders of the Noosa Triathlon were David Power (former Australian Olympian and Commonwealth Games Medalist, a long distance runner), and his friend Joe Gilbert (Golden Gloves Champion Boxer, Queensland Rugby 'Reds' player, a swimmer and runner).
Apart from the prize money which was paid to the various winners, the balance of funds raised from entry fees was donated to various voluntary organisations in the Noosa area which had assisted in the running of the event.
In 2009 as part of the Q150 celebrations, the Noosa Triathlon was announced as one of the Q150 Icons of Queensland for its role as an "event and festival".
[1] Participants who have completed the event 30 times as individuals are awarded "Golden Legend" status.
Standard "Legends Club" membership is after 10 events (recipients too numerous to list presently).