The Lázaro Galdiano Museum opened its doors to the public in 1951, and houses the art collection of José Lázaro Galdiano. The building was constructed in 1903 as the residence of Lázaro Galdiano and his wife and was later converted into the museum with respect to the original interiors. The building was declared Bien de Interés Cultural in 1962.
The Lázaro Galdiano Foundation was established by the government in 1948. Besides directing the museum itself and managing an important library, archive, and study room containing prints and drawings, the foundation also edits the prestigious arts magazine "Goya."