CLEVELAND (AP) – The Cleveland Orchestra will receive a $ 50 million grant from the Jack, Joseph and Morton Mandel Foundation, the largest donation in the history of the 103-year-old musical organization.
The orchestra said Thursday that $ 31.5 million would go towards its endowment, the financial foundation of the orchestra and to support an opera and humanities festival.
Severance Hall, the home of the orchestra since 1931 and named after John L. Severance, will be renamed Severance Music Center. The orchestra’s performance space will be called Jack, Joseph and Morton Mandel Concert Hall. The center also includes the Reinberger Chamber Hall.
The donation is the largest in the history of the 68-year-old Mandel Foundation.
âMusicians and audiences alike will almost immediately feel the benefits of the Mandel Foundation’s donation, starting with the improvements to the building that will allow us to continue capturing videos for our digital offerings,â said Music Director Franz Welser-MÃ¶st in a press release.
Brothers Jack N. Mandel, Joseph C. Mandel, and Morton L. Mandel bought an auto parts business from their uncle, Jacob Mandel, in 1940 and formed Premier Automotive Supply Co., later Premier Industrial Corp.