San Francisco Art Institute files for Chapter 7 bankruptcy

The San Francisco Art Institute (SFAI) has initiated Chapter 7 bankruptcy proceedings, putting at risk $65 million in assets, which includes Diego Rivera's mural 'The Making of a Fresco Showing the Building of a City' (1931), appraised at $50 million. After nearly 150 years of operation, the institute halted its degree programs in 2020. Attempts to rescue SFAI—such as discussions with the University of San Francisco, a debt acquisition by the University of California Regents, and various fundraising efforts—were unsuccessful. Notable figures associated with SFAI include alumni and faculty like Ansel Adams, Richard Diebenkorn, and Annie Leibovitz. To safeguard its archives, the SFAI Legacy Foundation + Archive was created by librarians for their permanent preservation.