PORTLAND, ORE.: Artists Repertory Theatre has announced that it has received an anonymous donation of $7 million. The unrestricted funds, which were made available immediately, were given in support of the theatre’s producing mission and to provide a home for artists and audiences to take creative risks.

“I am deeply grateful for this transformational gift and the trust that comes with it,” said artistic director Dámaso Rodríguez in a statement. “These funds afford us an incredible opportunity to carefully plan our future as a theatre company, while continuing to support Portland artists and arts organizations through the ArtsHub. This generous demonstration of philanthropy acknowledges the value of our mission, our 35-year body of work and our potential to impact our community in the years ahead.”

Coming in at twice the theatre’s $3.5 million operating budget, the gift is the largest donation in the company’s history, and one of the largest gifts that has ever made to an arts institution in Oregon. With the contribution, Artists Rep has paid off its mortgage and other debt. Earlier this month, Artists Rep announced that it would sell half of its building because of financial reasons. The company will continue to move forward in selling half of its property, as previously reported, but the new funds will allow for the creation of two theatres, multiple rehearsal spaces and offices, and space for the theatre organizations part of Artist Rep’s ArtsHub residency program in the space that will remain.

“Immense responsibility and trust come with this gift, and we are confident that with these funds Artists Rep can plan long into the future about what’s best for the theatre, our artists and the ArtsHub,” said board chair Mike Barr in a statement.