The 1932 Criterion Theatre recently received $80,000 from the TEW Foundation in Seattle, Washington.
They also got some matching grant money that could bring that total to $140,000.
The money will also go to a new HVAC overhaul.
Theatre staff hope this will help bring the building into the 21st century, especially because they said the theatre draws people to MDI in the winter months.
"We are the arts hub year around," said Mark Tipton, the development director for the Criterion Theatre. "I believe we are the only organization that produces this much on the island all around the year."
Currently, Criterion has to rent their sound equipment because theirs is from the 1980's.
They're still trying to raise money to get the full matching grant.