Chicago-based ATC lost its artistic director P.J. Paparelli earlier this year after he died in a car accident, prompting his friend Bonnie Metzgar to take on the role in the interim. During Paparelli's seven-year tenure, the theatre took increasing risks with new works, such as Columbinus (about the Columbine High School shootings) and Ayad Akhtar's controversial Disgraced, which moved to Broadway, where it garnered critical acclaim and was nominated for a Tony Award. 

ATC also presented the world premiere of The Humans in November 2014, which recently began performances Off-Broadway. The Roundabout Theatre production officially opened Oct. 25 to strong critical reviews. Read reviews for The Humans here. 

Jacobs is reportedly helping ATC with the generous gift as a "commitment to Paparelli's legacy," and hopes others will match his gesture. "It's really about, 'Let's keep the theater going,'" Jacobs told the Tribune.

He and Paparelli had reportedly been planning a revival of the Jacobs and Warren Casey musical Island of Lost Coeds.

The ATC board announced in June that it would conduct a national search for new permanent leadership for the theatre. For more information visit ATCweb.org.