(DETROIT) – Music Hall Center for the Performing Arts announcing that it has raised $1.5 million, closing that gap needed to secure the building into the future and settle with its primary creditors.
The $1.5 million brings the iconic music hall within close range of its most immediate goal of $1.7 million, just $200,000 short of its short-term cash goal. Music Hall will continue to raise additional funds, as part of its $7 Million Capital Campaign, to address other remaining debts and create a reserve fund to prevent such future financial crises for the institution.READ MORE: UAW Gets $1.1M For Northern Michigan Lake House Built For Former President
An official announcement will be made at the fundraising concert this Friday, February 12th starring Funk icon, Chaka Khan, at the Jon Barfield/Vivian Carpenter Match Grant Challenge concert this Friday, February 12.
Key Donors Advance Future Pledges
There have also been key donor pledgers, who have converted their future pledges into immediate cash to help meet the $1.7 million-dollar goal to discharge Music Hall’s senior mortgages.READ MORE: Sheriff's Deputy Fatally Shoots Man After Police Dog Stabbed In Van Buren County
“We are thrilled and humbled by the love that we have received from both corporate and private donors who have come together to help preserve this great cultural institution for hopefully another 88 years.” Music Hall’s President and Artistic Director, Vince Paul.
With DTE Energy Foundation joining as Co-Title sponsor with BCBS and other corporate philanthropists including Lear Corporation, Ford Motor Company, Masco Foundation, UAW-Ford, and of course, Jon Barfield and Vivian Carpenter who created the evening event with their Matching Grant Challenge.
A small amount of tickets are still available for purchase.MORE NEWS: Detroit Man Charged In 2014 Rape Of 17-Year-Old Girl
Music Hall was built in 1928 by Matilda Dodge Wilson.