The Fanwood-Scotch Plains Rotary Frazee House, Inc., is a 501(c)3 not-for-profit group created to restore the house. The group is composed of Rotarians and interested citizens. The restoration is being undertaken as the Centennial Project, a large-scale community project taken on by each Rotary Club chapter in honor of Rotary International's Centennial in 2005.

The Gershom and Elizabeth Frazee House is a highly signficant historic eighteenth-century home that figured prominently in the history of the Battle of Short Hills, June 26, 1777. Not only did Gershom and Elizabeth Frazee record their dispensing of "vittels" (victuals) to the American militia troops in February of 1777, but they also reported inventories of damage to their property, livestock, household items, carpenter and jointer tools and personal clothing looted by the British troops from their home on June 26 and 27, 1777. The traditional story of "Aunt Betty" Frazee's encounter with Lord Cornwallis, while not specifically documented except by later historians (Ricord's History of Union County in 1892), has strong circumstanial evidence to support it. A 1791 complete inventory documents every asepct of the country carpenter and joiner's farm with its outbuildings and livestock, his home with its furniture including Aunt Betty's flour casks, dough troughs and "chest for bread," and workshop with its work benches and tools. The home's later use by Frazee's nephew Gershom Lee and his heirs left it little-changed from its early appearance as documented in its first photograph ca. 1885 . In the 1950s to 1990s, as the home of the Terry family, Terrylou Acres Zoo became home of exotic, celebrated performing animals and popular recreational magnet for area children.

Despite the vicissitudes of almost 250 years of use, the Frazee House has preserved a remarkable wealth of historic data and remains a significant and restorable landmark. Outbuildings came and went (a wagon house was sold in 1793 to Ruben Woodruff, while others apparently moved nearby to his brother Moses Frazee's and neighbor Hatfield's), but the house itself remains largely intact. With the exception of easily restorable missing plaster finishes, the woodwork, including paneling from one room now in the Scotch Plains Historical Society's headquarters, may be restored with a minimum of guesswork. The consolidation and repair of certain weakened structural components, including some rafters, posts and a few beams, the house with its stout brick-filled walls may be restored to sound condition. An interpretive program teaching children American living history and culture of the period of the Revolution would make it a fine educational asset to the state of New Jersey and the nation.