The Lannan Foundation in Santa Fe, New Mexico, has announced its intention to spend out all its assets and close by 2032. 

Established in 1960 by J. Patrick Lannan, Sr., the foundation is dedicated to cultural freedom, diversity, and creativity. Its grantmaking focus has been on the areas of contemporary visual art, literature, Indigenous communities, and cultural freedom. Earlier this month, board member Brenda Coughlin was appointed executive director.  

The foundation also announced the closure of its Lannan Residency Program in Marfa, Texas, which has provided uninterrupted writing time for more than 360 fellows over the past two decades.  

“We see this accelerated spend out as an evolution,” said Patrick Lannan, Jr., who serves as vice president and director of strategic planning. “We never intended to operate in perpetuity, and we want to have the greatest impact we can right now.”

(Photo credit: Getty Images/fizkes)