From Theosophy News:

ADYAR DAY --- February 17th ---
If you mention Adyar Day to most of today’s elected leaders – top down – they will not know what you are talking about. Who cares about the Founders – Inner and outer – because most of the leaders are ignorant of the history of TS. We all witnessed how during last Convention they forgot to recognize even the Inner Founders.
A few leaders and members can tell you about the significance of Adyar Day; it is to commemorate the passing of Col Olcott – Founding and Life President of Theosophical Society and passing of Jiddu Krishnamurti – most well known exponent of wisdom. It is also the day, collections are made around the world to support Adyar which is the Mecca for theosophists. Today, due to lack of transparency, one cannot be sure if all the collections reach Adyar or get parked around the world, to be spent at the whim of International President.
On this day, at Adyar a formal function is held to commemorate Olcott and many others who sacrificed for spreading of theosophy around the world. Typically, International President presides over the function and delivers a lecture recalling the sacrifices made by Olcott and many others. Some lodges, especially in India, hold a function to recall the sacrifices of Olcott and others.