The Lower Verde Valley Hall of Fame was founded in 2004 by the River of Time Museum Foundation for the purpose of recognizing outstanding community volunteers and leaders from Fountain Hills, Fort McDowell Yavapai Nation and the Verde Communities.

The Hall of Fame inductees must have resided or been active in their respective communities at least ten years prior to their nomination. However, candidates are not judged just on their past activities but on their recent activities as well. Candidates are selected from the following areas: Arts and Culture, Business and Professions, Community Service, Education, Governmental Activities and Religious and Spiritual Activities.

A selection committee is named each year by the Board of Directors of the River of Time Museum Foundation, with committee members representing each of the three communities.