Vanderbilt University in Nashville, Tennessee, has announced a $1 million grant from the Kresge Foundation in Troy, Michigan, to help fund the construction of the Monroe Carell Jr. Children's Hospital at the university's medical center.
The gift from the foundation is contingent upon the university raising an additional $7 million in gifts and grants by the time the eight-story, 206-bed hospital is completed in the fall of 2003. The fundraising campaign for the facility began in 1999, when Monroe Carell, Jr. gave the school an initial gift of $20 million and the Junior League of Nashville donated another $2 million. Carell, the chairman and CEO of Central Parking Corporation, is leading the fundraising campaign.
"[The Kresge grant] is a generous gift and one that will help us reach out to new donors," said Harry R. Jacobson, M.D., Vanderbilt's vice chancellor of health affairs. "We are building a Children's Hospital that will reflect the dedication and commitment Vanderbilt has to treating children and their families."
The existing Vanderbilt Children's Hospital serves a population of about 700,000 children in three states and has one of the largest pediatric vaccine development and evaluation programs in the country. More than 45 percent of the children admitted to the hospital are covered under state or federal health insurance.