Organisers say they are extremely close to meeting the £30,000 target for the Russells Hall Rainbow, set to sit outside the borough's main hospital as a permanent reminder of the work done locally by the NHS, key workers and community volunteers during the pandemic.
It comes after a series of donations in recent days, including £1,000 from Barratt Homes, £500 from the Arts of Change charity in Dudley and £200 from a trail walk completed by councillors Adam Aston and Keiran Casey.
Meanwhile, £1,000 has been received from The Saleem Foundation, which works to increase awareness of campaigns around issues including mental health, breast cancer, domestic violence and dementia.
Councillor Casey, who launched the fundraising campaign, said they were now "within a whisker" of turning the monument into a reality.
He said: "The donation by the Saleem Foundation really does take us one step closer to achieving our funding target and making this sculpture a reality, so myself and everyone involved are extremely grateful for this donation.
"I started this project as I thought it was important we do have that permanent reminder of the work that has been done, not just during this pandemic, but the work done by all before this and which will continue long in to the future, something we must always be grateful for and never take for granted."
Shaz Saleem, founder of The Saleem Foundation, said: "If the pandemic has taught us anything, it is to appreciate.
"No-one deserves more appreciation than the extraordinary men and women working around the clock ensuring we are well during what has to be one of toughest times in history.
"We are very proud to be part Russells Hall Rainbow sculpture."
Donations can still be made via the campaign's JustGiving page.