The Television Academy has received a major gift in its $40 million fundraising campaign from philanthropists Cheryl and Haim Saban and the Saban Family Foundation — and in recognition, it will name the new building on the campus the Saban Media Center.

“We are well down the road with our extraordinarily exciting New Destination campaign,” Television Academy chairman and CEO Bruce Rosenblum told Variety. “Cheryl and Haim are terrific philanthropists. They care about a lot of causes here in Los Angeles and globally. All of us at the academy are thrilled to have them lend their name to our new media center and to have such generous contributors to our academy and our foundation.”

The 30,000-square-foot Saban Media Center, which is scheduled to open in April 2016, will be a state-of-the-art home for the TV academy and its foundation, enhancing the organization’s ability to support and educate its 20,000 above and below-the-line members. The Saban Media Center will also include a technology center and pocket studio where Academy Foundation interns and other young professionals can hone their skills. “Haim and Cheryl’s generosity really gave us the linchpin gift to be able to build this media center,” said Rosenblum.

Rosenblum declined to disclose the amount of the donation, but said, “It was a very meaningful contribution that allows us to get closer to our overall goal for both the construction of the building and the funding of the endowment for our foundation.”

The Academy is now more than halfway toward its $40 million fundraising goal for the redesign of its campus, which also includes a $10 million endowment for its foundation. “This New Destination campaign is a unique opportunity for our community to support both the construction of a new Television Academy campus, which will serve our 20,000 members, and the building of a new home for our charitable foundation, which supports our next generation of industry leaders,” Rosenblum said. “We have already received generous support from our business and individual colleagues, and we are confident that we will quickly receive commitments to help us achieve our $40 million goal.”

See More: TV Academy Plans Expansion, Major Fundraising Push

Haim Saban, founder of Saban Entertainment and Fox Family Worldwide, said, “Television is a constantly evolving medium, and Cheryl and I are honored to play a meaningful role in that evolution in partnership with the academy. We share the academy’s passion for encouraging and providing thought leadership through education, collaboration and the spirit of community.”

The Saban Family Foundation was established in 1999 by Haim and Cheryl Saban to support medical, children’s and education programs in the U.S. and to address unmet societal needs in Israel. To date, the Sabans have given more than $225 million to a number of causes.

“The timing of this announcement couldn’t be better,” said Rosenblum, pointing to this weekend’s Creative Arts Emmy Awards and next weekend’s Primetime Emmy Awards. “We’re excited to be back on Sunday night in September. This is an exciting time to be in the television business.”

(pictured: TV Academy President and COO Maury McIntyre, Cheryl Saban, Haim Saban and TV Academy Chairman and CEO Bruce Rosenblum at the site of the new Saban Media Center.)