The Tahoe Tallac Association was formed in 1979 as a non-profit 501(c)(3) organization with the goal of assisting the Forest Service in restoring the three estates on the Tallac Historic Site and developing the site as a historic center while sponsoring as well as producing the Valhalla Arts & Music Festival held annually on the Heller Estate of the Tallac Historic Site. The site is listed on the National Registry of Historic Sites.