Ocean State Theatre Company (OSTC) is inviting the community to take a seat.

The not-for-profit professional theatre company, which recently opened its third season in Warwick, announced last week the launch of a new matching challenge, in which community members have the opportunity to “purchase” the seat of their choice for $500, which will be matched by an anonymous donor.

Dubbed the “Take a Seat” Challenge, which began last week and will conclude on May 17, 2015 to coincide with the theatre’s 2014-15 season, participants may make a single $500 gift for each seat, or choose between a three-month or six-month payment plan. Payment, which is 100 percent tax deductible, must be made in full by May 17, 2015 in order to count toward the match. Name recognition on a plaque will be affixed to the seat. All locations will be sold on a first-come, first-served basis.

“The generosity of last year’s matching challenge grant inspired a new donor to come forward and propose this challenge,” said Amiee Turner, OSTC’s producing artistic director, in a statement. “Not only is it a wonderfully creative idea – which I love – it also gives patrons the opportunity to support the bond initiative, support our organization, and become a real part of Ocean State Theatre for years to come by placing their name, or that of a loved one or perhaps their business, on one or more of the fixed seats in the auditorium.”

Turner is referencing the recent passage of Question 5 on Rhode Island’s 2014 ballot, in which the state was authorized to borrow $35 million to support improvements and construction at arts facilities and historic sites throughout the state.

In addition to the nine performing arts organizations named in Question 5, the bond will also fund a competitive matching grant program for other qualified non-profit arts facilities, but in order to take advantage of the bond initiative, each organization must raise funds through a 1:1 match.

“The ‘Take a Seat’ Challenge will put OSTC in a stronger financial position, by raising capital for broad purposes, including those which may be applied toward the bond initiative, with the matching dollars going toward retiring debt incurred during the building of OSTC’s state-of-the-art facility,” OSTC Board Chair Andy Cohen said in a statement. “The match will be directly related to the number of seats sold and is only limited by the number of seats in the auditorium, so it could be as little as $500. If all 410 seats are sold, it could be pretty exciting!”

Although Turner wouldn’t reveal the theatre’s debt amount, she said the goal is to sell 150 seats, which would result in $75,000 of debt reduction.

Since the money raised by purchasing a seat will be matched by an anonymous donor, to be used for debt reduction, and has the potential to receive a match from the bond referendum if the capital project fits the guidelines, Turner said the program could be a “triple whammy.”

“There are many opportunities to utilize the funds and a number of projects that will fit in with the guidelines,” Turner said during a phone interview yesterday.

Turner said capital projects could include anything from installing additional handrails to increase accessibility, finishing office and dressing room space at OSTC’s 1245 Jefferson Boulevard building, or renovations to increase classroom space for outreach and education programs at the OSTC building at 1 Echo Drive.

Although OSTC has hosted fundraising programs in the past and worked with other matching donors, Turner said the theatre has never done anything like this before.

“This is a unique culmination of ideas for our organization,” she said. “Since the public tells us there’s not a bad seat in the house, now they can lay claim to one, or even two, of them.”

Turner said plaques would be installed on purchased seats in the summer to be there for next season.

Donations may be made at the box office, online 24 hours a day at www.OceanStateTheatre.org and via telephone during normal box office hours by calling 921-6800. Ocean State Theatre is located at 1245 Jefferson Boulevard in Warwick.

Subscriptions and single tickets for the 2014-15 season are currently on sale to the public. The box office is open Monday through Friday from 12 to 6 p.m., Saturdays from 12 to 4 p.m., and from 12 p.m until curtain on performance days.