Chelsea Clinton announced on Thursday that she and her husband will soon be parents.

During a Clinton Foundation event at the Lower East Side Girls Club in New York City this week, Hillary and Bill Clinton's daughter said she and Marc Mezvinsky were expecting.

"Marc and I are very excited that we have our first child arriving later this year," Chelsea said, as attendees cheered in response. "And I certainly feel all the better, whether it's a girl or a boy, that she or he will grow up in a world full of so many strong, young female leaders. So thank you for inspiring me and inspiring future generations, including the one that we'll be lucky enough to welcome into our family later this year."

Chelsea made her big announcement while sitting next to her mother Hillary during the "No Ceilings" event for an organization that helps young girls and women succeed in modern American society.

"Ugly Betty" actress America Ferrera, who acted as moderator for the event, pointed out that Hillary Clinton was grinning from ear to ear.

"I just hope that I will be as good a mom to my child - hopefully children - as my mom was to me," Chelsea Clinton said.

The news comes as rumors swirl concerning Hillary Clinton's potential presidential run, the Los Angeles Times reported.

Although Hillary Clinton didn't talk about whether she intended to put a bid in for 2016, she did say she was "really excited" about her imminent grandchild. She noted that it gave her a new push to work even harder with the Clinton Foundation.

"It makes this work even more important," Hillary Clinton said in reference to No Ceilings, "because we've made a lot of progress. But I want to see us keep moving, and certainly for future generations as well, so that maybe our grandchild will not have to be worried about some of the things that young women and young men worry about today."

The former Secretary of State encouraged the girls assembled in the room - and some of those participating via Skype call - to work their hardest.

"Obviously we are very excited about what's happening in our family, but we're also very excited because of what we are doing - that we hope gives confidence and support to so many of you across our country as you make decisions about the lives you want to lead, and trying to make sure there are no ceilings stopping you from going as far, and as fast and high as you can."