The Library of Congress announced today that A Christmas Story has been added to the National Film Registry.

What this means is the film will be preserved for future generations, in an effort between the Library and the movie studio.

Founded in 1800, the Library of Congress is the nation’s oldest federal cultural institution. It seeks to spark imagination and creativity and to further human understanding and wisdom by providing access to knowledge through its vast collections, programs and exhibitions. Many of the Library’s rich resources can be accessed through its website at www.loc.gov.

The write-up by the Library of Congress says,

Humorist Jean Shepherd narrates this memoir of growing up in Hammond, Ind., during the 1940s when his greatest ambition was to receive a Red Ryder BB gun for Christmas. The film is based in part on Shepherd’s 1966 compilation of short stories titled “In God We Trust, All Others Pay Cash,” which originated on his radio and television programs. Writer-director Bob Clark had long dreamed of making a movie based on Shepherd’s work and his reverence for the material shows through as detail after nostalgic detail rings true with period flavor. Dozens of small but expertly realized moments reflect an astute understanding of human nature. Peter Billingsley—with his cherubic cheeks, oversized glasses and giddy grin—portrays Shepherd as a boy. Darren McGavin and Melinda Dillon are his harried-yet-lovable parents.