An anonymous donor gave £757,000 to the Lincolnshire Bomber Command Memorial Appeal.
The money will go towards the construction of the planned memorial, The Spire of Names, on Canwick Hill in Lincoln.
A memorial and interpretation centre will pay homage to all those involved in Bomber Command from the designers, manufacturers, ground crew and civilian supporters to the 30,000 other aircrew who lost their lives as part of Bomber Command.
Since launching at the at the end of May 2013, the memorial initiative has now raised £1.4 million.
The Lincolnshire Bomber Command Memorial is being promoted by the Lord Lieutenant of Lincolnshire, Tony Worth.
His grandfather was one of the very first RAF members having been issued with licence number 76. Tony’s father then served in Bomber Command during the war and survived.
Chairman of the Trust, Lord-Lieutenant Tony Worth, said “This generous contribution means that the memorial itself is now fully funded, which is fantastic, particularly so soon after we launched the appeal.
“It now allows us time to secure funding for the Interpretation Centre and the Memorial Park from other funding sources, much of which is already in progress.
“We obviously have a way to go to reach our target of £5 million but this is a huge step in the right direction.”
The Trust has already held a number of fund raising events and more are planned throughout 2014.
The Trust is also working to secure funding from a number of international organisations who have connections to Lincolnshire or Bomber Command.