IdeasTap, an arts charity set up in the wake of the 2008 financial crisis, has announced that it is set to close on June 2 with the loss of nine jobs, having failed to confirm any future funding.

Since being established by arts philanthropist Peter De Haan, IdeasTap has supported over 190,000 emerging artists and formed close partnerships with organisations like the British Film Institute, the National Youth Theatre and Sky Academy.

The organisation had predominantly been funded by the Peter De Haan Charitable Trust, a separate organisation. Having failed to secure any external funding, the charity's founder said he had no option but to close. 

In a statement released today on the charity's website, De Haan wrote: "To date IdeasTap has been primarily funded by my charitable trust. Our efforts to secure government or corporate support have failed – and my charitable trust, which was set up in 1999 to improve the quality of life for people and communities in the UK, will soon run out of money.

“We’ve worked tirelessly over the last 12 months to confirm future funding for our operations. It is with great sadness and reluctance that we have reached this decision."

While the charity is planned to close in June, it will still honour a number of its outstanding commitments, which include showcasing four companies at the Edinburgh Fringe Festival, up until the end of 2015.

Dr Paul Gerhardt, director of education for the BFI, said the news of the charity’s closure was “extremely sad.”

“This is a really sad day for young creative people and organisations that support emerging talent alike. We hope to find ways of working with other IdeasTap partners to continue to support and signpost the many members of IdeasTap looking for opportunities in arts and media.”