U.S. Olympic Committee Looking into Financial Support for Mary Lou Retton as She Remains in ICU

In addition to the U.S. Olympic & Paralympic Committee, an online fundraiser has amassed $400,000-plus for the beloved former athlete

<p>Robin Marchant/Getty</p>

Robin Marchant/Getty

The U.S. Olympic & Paralympic Committee is pledging its support to Mary Lou Retton.

In a statement obtained by PEOPLE, the organization said it is working to “expedite” financial assistance for the Olympic gold medalist who is battling a rare form of pneumonia and is uninsured, her family said earlier this week.

"Upon learning of Mary Lou's condition, we immediately took action to expedite the application process for her family to receive assistance," the USOPC statement reads. "We are currently working through the necessary details in real-time and have reached out to Mary Lou’s family to offer our assistance."

The statement continued, "Mary Lou Retton has been an incredible icon and a source of inspiration in the US Olympic movement. Her groundbreaking achievements, particularly as the first American woman to win a gold medal in gymnastics, have left an indelible mark on the sports landscape. Retton's relentless spirit, verve, and dedication continue to inspire countless athletes across the country, embodying the true spirit of the Olympics."

The statement concluded, "We all hold her in our hearts during this challenging time and are hopeful for her to make a full recovery. Our thoughts and best wishes are with her and her family. We know that if anyone can tackle challenges with strength and grace, it's Mary Lou."

Related: Mary Lou Retton's Daughter Gives Update, Says the Former Olympian Is 'Still Fighting'

On Tuesday, Retton’s daughter McKenna Kelley first shared the news of her mom’s health in a post on her Instagram Story, which included a link to a fundraising page on Spotfund.

"My amazing mom, Mary Lou, has a very rare form of pneumonia and is fighting for her life," she wrote in a message on the fundraising page. "She is not able to breathe on her own. She’s been in the ICU for over a week now. Out of respect for her and her privacy, I will not disclose all details. However, I will disclose that she is not insured."

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Since posting the fundraising page, the family has been inundated with support from fans around the world, they said.

As of Friday morning, the campaign had raised just over $400,000.

Retton shares McKenna as well as daughters Shayla, Emma and Skyla with ex-husband Shannon Kelley.

The daughters are rallying around their mom amid her health crisis, eldest daughter Shayla Kelley Schrepfer told PEOPLE earlier this week.

Related: DWTS' Sasha Farber Says He Texted with Mary Lou Retton as She's in ICU, Told Her 'Fight Harder Than Ever'

“Our number one concern is the well being of our mom,” Schrepfer said. “That being said, being by her side is our first priority.”

In a video on Instagram Wednesday, Schrepfer added that her mom is “still fighting,” and showed her appreciation for the outpouring of love.

“My sisters and I are overwhelmed — overwhelmed,” Shrepfer said. “We didn’t even realize that there’s so many people out there that love her just as much as we do and it’s been a really hard time for our family.

She added, “And so just seeing that people love her like that, showing her that support has just meant the world to us and to her, so thank you.”

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