The Kevin Spacey Foundation, created to encourage young people in the performing arts, is closing down its operations in the UK.
The announcement was made by the trustees of the organisation in a statement posted on the its official website.
"The trustees have reached the conclusion that the work of the Kevin Spacey Foundation UK is no longer viable and as such the foundation will be closing on the 28 February 2018.
"The trustees would like to thank all their partners, artists and organisations for the great work that has been done in association with the foundation. The trustees hope that the objects of the charity will be taken forward by other organisations," the statement read.
Steven Jackson-Winter, a drama teacher and longtime associate of Spacey, used to head the foundation's UK operations, but he left it in November last year following the sexual misconduct allegations against the actor.
The organisation was officially registered in Britain in 2008, during the two-time Oscar-winning actor's tenure as artistic director of The Old Vic theatre in London from 2004 to 2015. It offered scholarships, awards, mentorships and educational programmes for young people interested in film, dance and theatre.
In October last year, Spacey was accused of sexual assaulting actor Anthony Rapp when he was 14. Spacey had said he had no recollection of the incident while coming out as gay.
After the allegations surfaced, he was removed from "House of Cards" by Netflix and replaced by Christopher Plummer in Ridley Scott's "All The Money in The World".
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