The 18-year-old fair benefits Chula League, a nonprofit that supports the arts and art education in East Austin.
Due to a decline in sponsorships and volunteerism, Chula League is pausing all programming, including the Cherrywood Art Fair, following this year's event.
"Just as the arts landscape in Austin has changed over the past two decades, a decline in financial support for our organization is forcing Chula League to evolve," board Chair John Mathew Bernal said in a statement.
Bernal added that, although the nonprofit is pausing its programming, it will work to strategize a way to continue to serve the East Austin arts community moving forward.
The final Cherrywood Art Fair will take place Dec. 7-8 from 10 a.m.-5 p.m. at Maplewood Elementary School.