On the 24th of April 1871 Edward Reeve, Thomas Mort, Eliezer Montefiore and Eccleston Du Faur convened a public meeting to establish an Academy of Art 'for the purpose of promoting the fine arts through lectures, art classes and regular exhibitions.' Thomas Mort, who had opened his home with its collection of paintings to the public ten years before, acted as Chairman. He was not confident about the success of the Society and expressed the opinion that unless it secured Government assistance, sustaining it would be 'very uphill work'. Only thirty five people attended the first meeting. A proposed Constitution was circulated and Montefiore suggested that a committee be appointed to meet at a later date for the purpose of 'drawing up a Code of Rules for the Government of the New South Wales Academy of Art.' On May 9th this Committee met and drew up the Rules, being five constitutions and seven laws. These were adopted a week later, at a meeting which also appointed the first officers of the Academy: Thomas Mort as President, Eliezer Montefiore as Vic-President and a Council of E. Combe, J. Willis, P. Hodgson, C. Badham, W. Wallis, L. Steffanoni and R. Tooth.
 

From 1872 until 1879 the Academy's main activity was the organisation of annual art exhibitions. On the 11th of November 1880, at its 9th Annual Meeting, the Academy dissolved itself, stating that its aims had been realised in the foundation of a public Gallery. The Gallery at this time was known simply as 'The Art Gallery of New South Wales'. In 1883 its name was changed to 'The National Art Gallery of New South Wales.' The Gallery was incorporated by an Act of Parliament in 1899. The Library and Art Gallery Act 1899 provided for the general control and management of the Gallery. It gave details of the Board of Trustees, numbering them at thirteen, outlined the responsibilities of the Gallery to the Minister, detailed annual endowments and provided for investments.
 

 
In 1892 the first Director of the Gallery was appointed. He was Eliezer Montefiore, a founding Trustee and President of the Trustees since 1889. He died in 1894 and another Director was not appointed until 1912. In the early years of the Gallery there were few staff, apart from attendants and a resident caretaker. The Trustees, particularly Eccleston Du Faur, took care of all administrative matters. The next two 'Directors' of the Gallery after Montefiore, George Layton and Gother Mann, were designated 'Secretary and Superintendent'. In 1912 Mann's official title was changed to 'Director and Secretary'. This title continued until 1971 when Peter Laverty was appointed simply as 'Director'.