The need to perpetuate Keyt’s name legacy and preserve his work as part of Sri Lanka’s national heritage became a national consequence. A group of his ardent admirers and friends decided in June 1988 to establish the foundation in his name and to provide opportunities for the development of art and artists, promoting art and assisting Sri Lanka Artists including painters, sculptors, musicians and writers, and to establish a gallery of Modern Sri Lanka Art. The George Keyt Foundation was subsequently incorporated on 13 June 1990 as a legal entity and a charitable trust, and Keyt himself saw its early years and significant contribution to the arts in Sri Lanka.