The Starr Foundation has awarded a $25 million challenge grant to Hebrew Home at Riverdale, a nursing home in the Bronx where foundation chair Maurice "Hank" Greenberg's mother lived until her death in 1994, the Wall Street Journal reports.

The challenge grant is part of a $100 million endowment campaign marking the 2017 centennial of the facility. Greenberg, the former CEO of insurance giant American International Group and current head of insurance and investment conglomerate C.V. Starr & Co., also recently provided the home with a $13 million loan to secure land for a continuing-care retirement community.

With pressure from states to provide long-term care that is less costly than a nursing home — of which Medicaid does not pay the full cost — nonprofit nursing homes need a greater mix of donations and private-paid residents to help bridge the gap, Doug Sauer, CEO of the New York Council of Nonprofits, told the Journal. In recent years, Hebrew Home has added home-care services, day-and-night care, independent middle- and low-income housing, and assisted living to its portfolio of services.

In addition, effective June 1, all nursing home residents in New York will be required to contract with a managed long-term care plan. As a result of providing managed long-term care services, Hebrew Home expects to become a $500 million operation by the end of the year, up from $120 million four years ago, said Hebrew Home president and CEO Daniel Reingold.

"The job they do is outstanding," said Greenberg, whose previous gifts to the organization have helped fund a wellness program, fitness center, a promenade and gazebo, and a shelter for elder-abuse victims. "I wish we had many facilities like that across the country."