WATERLOO -- Pauline Barrett grew up during the Great Depression but watched her parents donate every cent they could.

Today the financial outlook for Barrett is much rosier than it was during those early years, but her passion for supporting the community she lives in has not waned.

"I firmly believe in keeping your money in your community," said Barrett.

Today she stood behind that philosophy, announcing a $5 million gift to Allen Hospital for the construction of its new 70,000-square-foot addition which will house the Allen Emergency Department and Allen Heart and Vascular Center. In return the $47 million facility will be named the Pauline Barrett Pavilion.

The pavilion, which will serve as the hospital's main entrance, is being built on the southwest side of the hospital, just west of the new birthing center. The emergency room will be on the first floor, with heart and vascular services on the second and third.

Allen officials hope this new facility will meet the increased demands the hospital has seen in recent years. The current emergency department was built to treat about 15,000 patients annually, but nearly doubled that number last year. The department also served a record number of patients just last month.

Construction on the project is expected to begin next Monday with the demolition of Dack Hall. The emergency department should open in early 2009. The heart and vascular center will open later that year.

The lead gift totals one-third of the Allen Foundation's fundraising goal for the project. To date the foundation has raised about $8.4 million. The $15 million campaign is expected to be completed by late next year.

Matt Rolinger, the foundation's senior director, hopes others see this gift as a "stamp of approval" from Barrett and the community.

"I hope this is the gift that jump-starts the public effort of our campaign," said Rolinger. "Pauline really believes in Waterloo and the Cedar Valley. She is very deliberate in her giving, which makes this even more special."

The gift is the largest donation the hospital has received since its founding by Henry B. Allen in 1925 and is among the largest philanthropic gifts from a single family in Cedar Valley history.

"I knew how well they had used the Barrett Forum and I really wanted to keep my money in Waterloo," Barrett said. She gave the lead gift on that project and the Barrett Library, both at Allen College, in 2000 in honor of herself and her late husband, Dr. Sterling A. (Archie) Barrett.

She has also made donations that endowed the Barrett Medical Library at Allen Hospital for Black Hawk County physicians and helped fund Gerard Hall. Her donations also helped build the new Allen Birthing Center in 2004.

Barrett was born in Calhoun County in 1921 and moved to Waterloo in 1943 after completing business school in Fort Dodge. Though she was always financially savvy -- her experience and determination won her an additional $2 a month when she first started working for Rath Packing Co. -- it wasn't until she met her husband that she really started diversifying her investments.

He told her to keep her eyes open for products that people used, and then she should buy that stock.

"Everyday I would go in the restroom and the girls were all using Revlon nail polish and lipstick," she said. "So that was my first stock and it was a good one."

Though her philosophy of buying a stock and holding onto it has turned into solid financial gain, Barrett said she isn't one to dole out any investing advice.

"I do not make the stockbroker rich. If something goes up today, it will probably go down tomorrow," she said. "I just really enjoy doing this."

Contact Emily Christensen at (319) 291-1570 or emily.christensen@wcfcourier.com.