The Ritz Cinema project received a boost this week to complete the restoration with a £10,000 donation from Jackson Building Centre.
The firm is donating building materials, resources, support and time to help towards the renovation.
Non-profit organisation Off The Bench is in the second year of the project, after asbestos was discovered on the premises last year and the team had to use their entire budget to remove the dangerous chemical.
Off The Bench CEO Pete Genders said: “The donation from Jackson is nothing short of spectacular, and at a time when we dearly need it.
“I can quite honestly say that if Jacksons were not supporting this project it would not get finished. The people of Lincoln can thank Jackson for this building reopening.”
Lathan Tuplin, Branch Manager of Jackson, said: “When we were approached we jumped at the opportunity to help out with the cinema only down the road from our Pelham House operation.
“Our staff, most having visited the Ritz in its day, are all enthused by the project and looking forward to the opening.
“Clearly a lot of work has gone in to the project with more elbow grease needed, it will be a great asset to the city having the added benefit of the restaurant and bar below.”