Real estate investment trust Welltower Inc. has launched the Welltower Foundation with a $250,000 grant to the Alzheimer’s Association in support of its Brain Ball, to be held May 6 at the Andrew W. Mellon Auditorium in Washington D.C.

“The launch of the Welltower Foundation is a natural extension of our focus on helping people live well as they age,” Erin Ibele, president of the Welltower Foundation, said in a statement. “We are honored that our first action will be to partner with the Alzheimer’s Association to help raise the awareness and funds vital to tackling Alzheimer’s disease and its impact on society.”

The Alzheimer’s Association recently named Welltower CEO Thomas J. DeRosa as the Brain Ball’s national honoree. DeRosa, whose father had Alzheimer’s, has expressed commitment to advancing memory care and connectivity across the healthcare continuum to provide quality of life and dignity for people living with dementia.

“More than 5 million Americans are living with Alzheimer’s disease, and that number is expected to triple by 2050. Our society and healthcare infrastructure need to be equipped to deal with the challenges of a growing number of people developing Alzheimer’s,” said Donna McCullough, chief development officer of the Alzheimer’s Association. “The Alzheimer’s Association sincerely appreciates the dedication of partners like the Welltower Foundation, Welltower and Tom DeRosa, to both support people living with Alzheimer’s disease and to change the future of this disease for millions.”