Rihanna is preparing for something big. Aside from her forthcoming album, the Bajan pop star is gearing up for her first annual Diamond Ball, an event held to benefit her new foundation in honor of her late grandmother, oncology and nuclear medicine

The Diamond Ball will benefit the Clara Lionel Foundation, named after Rihanna's grandmother. The foundation seeks to improve all areas of the global community including health, education, and culture, as noted by Vibe.

According to the magazine's site, the Ball will take place on December 11 at the Vineyard in Beverly Hills, California. The funds raised will also benefit The Clara Braithwaite Center for Oncology and Nuclear Medicine at Queen Elizabeth hospital on her native island of Barbados.

Rihanna took to Twitter to share the big news.

"There is truly nothing I'm more proud of and we've just gotten started," she said in a statement. "I'm excited to continue my work and thrilled to be able to host the Diamond Ball — a night that promises to be elegant and inspirational."

Rihanna's grandmother, who she affectionately called GranGranDolly, passed away after losing a battle with cancer in July of 2012, according to MTV News.

Last month, the "Stay" singer made headlines when a possible tracklist for her upcoming album made its way to the Internet. The tracklist featured 14 tracks with guest spots by Drake, Nicki Minaj and Big Sean.

Back in July, producer turned Love and Hip-Hop: Hollywood star Yung Berg revealed that he penned a song called "All Night" for Rihanna, which was produced by Nic Nac (Chris Brown's "Loyal").

No official word on when to expect the new album. Stay tuned for more updates.

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