INDIANAPOLIS - An Indianapolis nonprofit is closing its doors. The board of directors for the Indianapolis Downtown Artists and Dealers Association has announced plans to dissolve the organization at the end of the year.

IDADA is a membership-based organization comprised of artists, art galleries and arts-related businesses within the 20-block radius of the center of Indianapolis, according to its website. In 2005, IDADA created the popular First Friday Art Tour, which is a monthly event that features local artists and venues.

"While this is the end of an era, this isn’t a moment for sadness. Our members should celebrate what we’ve created, what we’ve established in this city," Joy Hernandez, president of IDADA said in a statement. "The arts won’t be going away, First Friday won’t be going away, it’ll all continue while we step aside to make room for the next movement in Indianapolis cultural history, which will only grow upon what has been built over these last 15 years. We will work with whoever steps up to create what comes next, we will all continue to support our arts community."

Hernandez says the organization will resolve all of its finances before the end of the year and will not renew any memberships. You can view the full statement from Hernandez and the board by clicking here.