(CBS) The Anthony Rizzo Family Foundation has made a $3.5-million endowment to Lurie Children’s Hospital of Chicago, the two organizations announced Monday morning.

The two endowed funds will “profoundly touch the lives of numerous patients treated for cancer and their families,” the news release said.

The “Hope 44 Endowed Fund” will give grants to families facing difficult financial circumstances due to unexpected needs resulting from a child’s treatment for cancer. Such expenses could be co-pays, meals, rent, utility bills and child care for siblings. Social workers will assess a family’s need for assistance.

The “Anthony Rizzo family Foundation Child Life Endowed Fund” will give support for two oncology child-life specialists, positions that are funded entirely by philanthropy, the organizations said.

The Rizzo Family Foundation is spearheaded by Cubs first baseman Anthony Rizzo, and the 18th-floor waiting room at Lurie’s has now been named his organization. It will be called the “Anthony Rizzo Family Foundation Waiting Room.”

“As a survivor of cancer myself, I know the emotional and financial strain the diagnosis of cancer can put on a family,” Rizzo said in a statement. “I believe that an individual does not battle cancer alone, his or her entire family does. That’s why we’ve designated this money to go directly to help families on the front lines.”

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