The foundation behind Tulane University’s Lavin-Bernick Center for University Life has pledged $5 million to support faculty, school officials announced Friday.

The Carol Lavin Bernick Family Foundation will gift the money over the next five years, Tulane officials said. Funding will be used for research, recruitment, development, continuing education and student engagement.

Individual full-time faculty members will get grants for up to $15,000.

“The Carol Lavin Bernick Family Foundation showed its dedication to Tulane students by building the Lavin-Bernick Center. Now, through the Carol Lavin Bernick Faculty Investment Fund, it will support another treasured university asset – our world-class faculty,” Tulane President Mike Fitts said. “We are most grateful.”

Carol Bernick, founder of the foundation behind the grant and vice chair of the Board of Tulane, said she expected the funds to create “academic synergies” between faculties from different fields.

“This gift is designed not only to have a demonstrable effect on academic innovation at Tulane but to also encourage others to join me in this effort,” Bernick said.

Bernick is the former executive chairman of Alberto-Culver, makers of Alberto VO5, TRESemme, Nexxus, Motions, St. Ives, Noxema, Simple Skin Care, Mrs. Dash and Static Guard. She currently serves as CEO of Polished Nickel Capital Management, a financial services firm.

Bernick also founded Friends of Prentice, a volunteer group of executives and professionals that has raised millions of dollars for Chicago’s Prentice Women’s Hospital of Northwestern Memorial Hospital, where she serves as board chair.

She is a member of the Women’s Board of the Boys and Girls Clubs of Chicago and serves on the Executive Committee of the Economic Club of Chicago. In addition to serving on the Board of Tulane, she is a member of the Dean’s Advisory Board for Northwestern University’s Kellogg School of Management and the Women’s Leadership Board of Harvard University’s Kennedy School of Government Network.

This is the second $5 million gift Tulane has received in recent weeks.

In late January, David Mussafer and his wife Marion gave $5 million to turn the former home of Tulane’s School of Social Work into Mussafer Hall, a student center that will unite career programming, academic advising and success services.