“SFAI’s closure and pending bankruptcy is a loss for every San Franciscan who values the city’s creative spirit,” said Mike Buhler, President and CEO of Fort Mason Center for Arts and Culture.ĪT&T is owed $30,000, PG&E is owed $6,900 and the annotated list goes on for 49 pages - all the way to Bay Alarm, which is owed $1,305 and Dewey Pest Control, which is owed $816. Fort Mason claims it is owed in excess of $750,000. It was finally evicted for nonpayment of rent last year. The Fort Mason campus closed in March 2020, with the Art Institute abandoning a 55-year master lease. It claims $450,000 in unpaid rent.įort Mason Center for Arts and Culture owns the pier under the graduate school, a $14 million campus that opened in 2017 in a spectacularly ill-timed expansion in the face of dramatically declining enrollment and an increasing debt load. The Regents of the University of California own the building and the land at the main campus, 800 Chestnut Street, under a complicated arrangement of a will that donated the property. ![]() The other main creditors are the Art Institute’s landlords, who claim they’re owed back rent. “The Making of a Fresco Showing the Building of a City,” painted by Diego Rivera in 1931, sits in a private gallery at the San Francisco Art Institute. But USF ultimately decided not to go through with it in July 2022, and the Art Institute announced it would cease operations, ending a San Francisco tradition that dates to 1871. Most prominent among them is the University of San Francisco, which claims it is owed around $6 million for costs incurred in exploring a relationship between the two institutions in an attempt to save the art school. A meeting of the creditors will be held May 17. ![]() ![]() It is tragic.”Ĭhapter 7 bankruptcy requires liquidation of assets in order to repay creditors. “The passion was there until the very end and up to the moment that we filed we were still trying to get a couple of billionaires on the East Coast to help us out but it just didn’t work out.”Īdded his co-chair Lonnie Graham, “after every single possible effort we just weren’t able to get the support that was necessary to keep it going. “It was a good run for 152 years and it is such a tragedy that it is gone,” said John Marx who served as co-chair of the institute’s board.
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