Hermes Nye, who was active in the TFS (President 1956-57), was the main inspiration for the formation of the Society which has been dedicated to the promotion and preservation of various folk music, including, of course, Texas folk music. The DFMS has hosted monthly "hootenannies" for 50 years, and they are still going strong. It has nurtured and encouraged people to raise their voices in song, as well as play instruments of all varieties and origins. Many bands and individual performers have had their start in this group.

One of the other founders of the DFMS, Lu Mitchell, is still quite active in the Dallas Folk Music Society and also continues to perform folk music at various Dallas-area venues. She speaks often about the inspiration that she and the others received from Hermes Nye back in the 1950s, which gave the impetus and energy for the founding of the Society.