The IFCC, Inc. will be ceasing operations at the IFCC building on May 1, according to Board Chair Bill Hart.
"Despite a successful run of arts programming as part of our mission, it has come to the Board's attention that our financial circumstances are not as solid as we had hoped," he said in a statement Friday afternoon.
"The last few years have been a struggle for everyone, and support for the arts is harder and harder to secure."
Hart said recent fundraising has been difficult, and the organization has struggled without a managing director for the past year.
"A leadership loss at that level is extremely pivotal to the financial management of an organization, especially a non-profit, arts organization," he said. "The real loss to the institution was the halt to our grant writing and fund raising activities and the Board's lack of overall financial oversight of IFCC, Inc. during that time."
Hart thanked the City of Portland and Portland Parks & Recreation for providing the organization with "use of the building free of rent, including maintenance and utility costs, as well as annual grant support."
"At this time we are moving forward with our internal process to initiate a 'wind down' of the operations of the IFCC programs," he said.
"This is a very difficult and emotional time for many people connected with the IFCC."
Already scheduled programs and access will continue until June 30.