The main objectives of the Society are:
- To establish a light railway museum in Albion Park, NSW Australia.
- To provide a place for public exhibition of light railway locomotives and rolling stock, along with other related items of historical interests.
- To educate the public in the mechanics, manufacture and operation of steam engines and other mechanical devices used for light railway operations and industry.
- To inform the public in the use of railways and tramways for industrial and other purposes, particularly those within the Illawarra region of New South Wales.