The Great River Shakespeare Festival in Winona has received a financial boost. The organization announced it had received at $300,000 matching gift from the Slaggie Family Foundation. The amount must be matched by new gifts, or increases in existing gifts.

The contribution is the largest in the history of the Festival, which began in 2005 and last year staged three plays in June and July. According to tax records, the festival ran a $49,000 deficit on expenses of about $800,000 in fiscal 2010. Eric Bunge, who helped build the Commonwealth Theatre in nearby Lanesboro, is the festival's managing director.

The Slaggie grant is intended to provide an operating reserve and increase working capital. The foundation is based in Winona and has been a significant contributor to local causes. Mike Slaggie said in a statement that his family recognizes, "The Festival's positive impact on Winona's business community."