Starting in 1996 the FFMV and small groups of volunteers organised and prepared a preliminary inventory of the heritage of the Machicado Viscarra Family.

By 2005, the library was consolidated into different collections (a library, a newspaper and periodical archive, a historical archive, and a music collection). The FFMV started then to provide access to researchers and cultural promoters on a small scale.

Between 2008 and 2009, the library was part of an international exchange programme to support the development of libraries and archives in Bolivia and Peru (BRISAL).

In 2010, funded by a grant by the Spanish Cooperation Agency (AECID - CAP), the FFMV started cataloguing the library using KOHA, an Open-Source Online Public Access Catalogue.

In 2012, funded by a grant from the Programme for Latin American Libraries (PLALA) from Mellon Foundation and the Centre for Latin American Studies at Harvard University, the FFMV consolidated the Historical Archive. The original archive consisted of 12 linear meters of documentation, maps, plans, and over 8000 photographs.

In 2013, the FFMV increased access to the collection considerably by opening the Reading Room and allowing home loans and digitization services to its members. The FFMV financed small research projects on heritage preservation. Projects resulted in a series of exhibitions and publications about cultural life in La Paz, monument history, and European immigrants' role in Bolivia during the first half of the XX century.

Between 2017 and 2020, the FFMV received two infrastructure grants (PIU - FOCUART) to improve access to the Library. More recently, it has received resources from the International Assistance Fund for Cultural and Educational Organisations of the Federal Republic of Germany, the Goethe-Institut, and other partners (www.goethe.de/hilfsfonds). This generous grant will help the FFMV deploy better health and safety protocols in all its activities in response to the COVID19 global emergency.