AP News / AP Foundation Academy has announced it is disbanding.
The foundation announced it was taking a break from fundraising after it had raised $1.4 million in January.
Its last day in the spotlight was Aug. 23.
Foundation president and CEO Eric Gershoff, who joined the foundation in February, will remain as president and chief executive officer of the organization.
He will lead the foundation through the transition, which is expected to take place over the next three months.
The announcement is the latest in a series of changes to the foundation, which was founded in 2000 to promote philanthropy in the United States.
Gershoff’s tenure came to a close in March after a year that saw the foundation grow from a few hundred donors to more than 2,000.
The announcement also comes as the foundation’s tax-exempt status was stripped.
The Foundation is the only nonprofit that does not have to disclose its donors.
In a statement released Monday, Gershons said he would step down as CEO and that he is looking forward to continuing to focus on philanthropy.
The foundation is also discontinuing the foundation annual gala and is looking to create a more robust fundraising schedule.
Gershin said the organization would continue to work on developing a fundraising platform and plan to launch a national foundation holiday fundraiser in 2021.
The Foundation has raised $3.7 million from more than 1,000 donors.
The last year was the foundation s biggest yet, with more than $1 million raised.
It raised more than that in 2015, when it raised more the previous year.