Since its founding in 1963, Trinity Repertory Company has been one of the most respected regional theaters in the country. Featuring one of the last long-standing resident acting companies in America, Trinity Rep presents a balance of world premiere, contemporary, and classic works for an estimated annual audience of 120,000. Over the past fifty years, the theater has produced a number of celebrated world premieres, mounted national and international tours, trained hundreds of new actors and directors through its MFA programs (now in association with Brown University) and has consistently been a pioneer in arts education for people of all ages and abilities. Since 1973, Trinity Rep's home has been the Lederer Theater Center, a historic landmark built as the Majestic Theatre in 1917. With an annual budget of $7.4 million, the theater employs over 100 artistic and administrative staff and annually generates nearly $12 million in economic activity. In 1981 it won the Regional Theatre Tony Award, and in 2014 it was named the State Theater of Rhode Island.