The Grissom Air Museum, near Peru, Indiana was founded in 1981, by seven prior service military personnel who lived in the area. The Heritage Museum Foundation (HMF) wanted to preserve aircraft that were currently located at Grissom Air Reserve Base, formerly Grissom Air Force Base. The HMF started the Grissom Air Museum in 1982 outside of what then was the main gate of Grissom Air Reserve Base.

The Grissom Air Museum currently has 32 aircraft, 24 on display, 7 in different stages of restoration and 1 awaiting its display area. The Grissom Air Museum was also the home of the 305th Bomb Wing (BW) and the 319th Fighter Interceptor Squadron (FIS), and is now proud to be the home of the 434th Air Refueling Wing.

The Grissom Air Reserve Base, was the Grissom Air Force Base before it was changed from an active service facility. Prior to May 12, 1968, it was known as the Bunker Hill Air Force Base. Bunker Hill was renamed Grissom AFB in honour of Virgil I. "Gus" Grissom, Indiana native and the second American astronaut into space. He perished in the Apollo I fire on Jan. 27, 1967.