Rock ’n’ roll icon Paul McCartney is going off his own classic playlist for what he hopes will be another hit: a charity to promote music education and talent.
He has teamed up with Fidelity Investments to form the Music Lives Foundation, which will subsidize school music programs, scholarships, awards for educators, and grants to arts organizations that assist aspiring musicians.
Learn more about the Music Lives Foundation.
Citing a decline in music programs in America’s public schools, and research showing that students and schools that participate in music education perform better on several indicators, the foundation kicked off a campaign last month to raise more money for school- and community-based programs.
Fidelity Investments, a sponsor of the former Beatle’s latest tour, has provided $1 million in start-up money and a $40 contribution—the cost of a new instrument for a child—for every new brokerage account opened through the end of this year.
The foundation is also selling commemorative bracelets, available online and at each of the 37 concerts on the musician’s U.S. tour, to raise additional money.