CLEVELAND — The Cleveland Orchestra announced Thursday it has received its largest gift in the group’s 103-year history. 

The Cleveland Orchestra said it received a $50 million grant from the Jack, Joseph and Morton Mandel Foundation, which also marks the largest donation made by the foundation in its 68-year history. 

The orchestra said $31.5 million will go toward bolstering its financial foundation and supporting a Jack, Joseph and Morton Mandel Opera and Humanities Festival. Other funds will go toward supporting and expanding the orchestra’s programs and partnerships. 

The Cleveland Orchestra said it is honoring the gift by naming its main performance space as the Jack, Joseph and Morton Mandel Concert Hall. The building that houses the Cleveland Orchestra, currently named Severance Hall, will be renamed the Severance Music Center to continue honoring John L. Severance, who provided much of the orchestra’s early funding. 

“This unprecedented gift lays the groundwork for The Cleveland Orchestra’s second century, supporting our long-term capacity to offer extraordinary musical performances and inspiring programs while transforming our ability to reach audiences far beyond the physical limits of our building,” said orchestra President André Gremillet. “Like the Orchestra, the Mandel Foundation combines a global outlook with a deep commitment to the Cleveland community. We will forever be grateful to the Foundation for its extraordinary generosity.”