Casa Herrera is owned by the Fundación Pantaleón, a not-for-profit foundation organized and operated under the laws of Guatemala for charitable, educational and cultural purposes consistent with the mission of The University of Texas at Austin. Under a Usufruct agreement, the Fundación Pantaleón makes available to The University of Texas at Austin the use of the Casa as a year-round facility for teaching, research, conferences, and cultural activities operated by the Department of Art and Art History of the College of Fine Arts.
Fundación Pantaleón was founded in 1992 by the shareholders of Pantaleón Group. It is dedicated to developing education, health and environmental projects in Guatemala, Nicaragua, and Honduras. It is a private organization with no political affiliation. Fundación Pantaleón's mission is to support education, health and environmental projects that offer an opportunity to increase the level and quality of life.