Portobello Heritage Trust has now been registered with Companies House and a board of six members has been appointed.
Nick Stroud, of Portobello Community Council, said the Portobello community first saw the need to establish such a trust in 2006.
He said: "When the kiln collapsed we were dismayed to watch a massive part of Portobello's heritage being washed away.
"The city council's initial response was largely indifferent, although plans are now under way to see it restored following a campaign by local residents.
"However, the community realised it needed some sort of body to safeguard sites like this in the future."
Following the successful campaign for the kiln, the trust will now expand local activism to record and encourage the conservation, protection and enhancement of the heritage in and around Portobello.