Aston arts centre The Drum is to close its doors on June 30, after holding a 鈥榳ake鈥 on Friday.
The event on June 24 will celebrate the centre鈥檚 22 years of providing arts and culture to black people and those from ethnic minorities.
And it will mourn what this means for the future of the arts in Birmingham.
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The Drum went into voluntary liquidation on March 29, with organisers saying it would close at the end of June if a rescue package wasn鈥檛 forthcoming.
None has emerged so the centre is shutting on June 30 with the loss of 25 full-time and part-time staff.
It has hosted performances from the likes of singers and Mary Wilson and comedian Richard Blackwood, and organised the annual free Simmer Down Festival in Handsworth Park.
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The event on Friday will involve a meal, performances by poets, musicians and dancers including Eloquence and Sandra Golding, and speeches from, among others, BBC equal rights campaigner Dr Rob Berkeley.
The Drum鈥檚 chief executive Charles Small, who is moving back to London after 11 years, said: 鈥淧eople here are calling it a wake.
鈥淚t will be a celebration of what we have achieved but also there will be quite a sombre mood as we think about what we are losing.
鈥淚t is a very challenging time for the arts in general and the black community in particular.
鈥淭he Drum is an iconic organisation, and if you take that out of the mix people are thinking 鈥業f the Drum can go, what鈥檚 for us?鈥.
鈥淲e really don鈥檛 know what will happen in the future.
鈥淭his is an ignominious end and I sincerely hope we will not permit black-led arts to die.鈥
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A committee of stakeholders are discussing an arts and community plan for the north west of Birmingham and what could happen to The Drum building.
On the table is up to 拢4.5m of Arts Council England funds and a grant of 拢310,000 that was awarded by Birmingham City Council before insolvency.
