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The Oregon Ballet Theater will remain open for the coming year after raising more than $850,000 from supporters who want to keep the financially-strapped organization alive.

The ballet company needed to raise $750,000 by the end of June to close a budget gap caused by dwindling contributions from its traditional donors.

“Dance Unlimited,” an all-dance benefit held recently, raised more than $710,000, spurring new donors to join the effort.

Spokesman Erik Jones said the company had raised $853,271 as of Thursday.

The ballet previously cut its budget by more than 30 percent after donations fell by half and last year’s winter storms decimated audiences for its most financially important production, “The Nutcracker.”