Alexandria, VA (Top40 Charts/ CAFAmerica) - In what appears to be a first, a "donor advised fund" (DAF) will be used to channel the royalties for charitable donations from sales of a major music recording. CAFAmerica announced today that Columbia/Epic, a label group of Sony Music
Entertainment, has approved a DAF for the sole purpose of donating royalties from Bob Dylan's new Christmas album, "Christmas In The Heart," to make possible grants to CRISIS, one of the UK's leading national charities dedicated to ending homelessness by delivering life-changing services and campaigning for change.
The Dylan Christmas album already has raised an estimated $125,000 in royalties that could be donated through the CAFAmerica DAF.
Establishing a Donor Advised Fund (DAF) with CAFAmerica is a convenient and simple way for large and small donors in the United States to support and manage one or multiple global philanthropic initiatives. DAFs have become a mainstream vehicle for philanthropy over the past few years.
Columbia/Epic worked with CAFAmerica to establish a DAF to convert Bob Dylan's album royalties into grants for CRISIS. In October 2009, CAFAmerica made the Chronicle of Philanthropy's "Philanthropy 400" list of U.S. private fundraising charities.
CAFAmerica CEO Susan Saxon-Harrold said: "We are thrilled that CAFAmerica will be able to assist Columbia/Epic and Bob Dylan in supporting grants to CRISIS and other charities in the United Kingdom and United States. Bob Dylan's generosity, lending both his name and his music to this noble effort, will ensure that many thousands of people do not go hungry during the holiday season. CAFAmerica is delighted to find a charitable solution to assist Bob Dylan and his record company in supporting the causes they are committed to globally. Supporting a charitable initiative like this one in perpetuity is a bold move and is likely to result in a real difference in lifting people out of poverty."
Bob Dylan recently announced that the majority of U.S. royalties from sales of his October 12th, 2009 released holiday album, 'Christmas In The Heart,' will be donated to 'Feeding America,' a charity in the United States. Two international charities, London-based 'CRISIS' and the 'World Food Programme,' will receive grants through Bob Dylan's label. CRISIS estimates that the initial proceeds of the donations will provide 15,000 meals for homeless people in the UK over Christmas, as well as 500,000 meals for schoolchildren in the developing world.
Commenting in a CRISIS news release about the grants, Bob Dylan said: "The problem of hunger is ultimately solvable, which means we must each do what we can to help feed those who are suffering and support efforts to find long-term solutions."
For more information about the Dylan Christmas album, go to https://www.bobdylan.com/No/news/christmas-in-the-heart-be-released-october-13.