With his wife Joyce Oldmeadow, Court Oldmeadow was a vigorous patron of children's literature in Australia. Together they established a children's bookshop in Melbourne that enjoyed an international reputation. More significantly, they developed Dromkeen Homestead, near Melbourne, into a thriving centre of children's literature. At Dromkeen they collected original artwork from children's books, manuscripts, photographs of children's illustrators and authors, first edition books, and other relevant material, to become the Courtney Oldmeadow Children's Literature Foundation (also known as the Dromkeen Collection). In 1976 the Children's Book Circle of Great Britain jointly awarded to the Oldmeadows the Eleanor Farjeon Award for their services to children's literature.
The Dromkeen Medal commemorates Oldmeadow's life and work. It is an annual award, initiated in 1982 and presented by the Governors of the Courtney Oldmeadow Children’s Literature Foundation. This award is made annually to an Australian citizen for a significant contribution to the appreciation and development of children’s literature in Australia.