Bob Dylan takes on hunger

Dec 20, 2009 @ 12:01 am

By Bruce Kelly

The spiritual message of Bob Dylan's soulful ditty about fate and consequences, “Gotta Serve Somebody,” is taking on a more down-to-earth meaning this year.

Using a donor-advised fund, Mr. Dylan's record label, Columbia/Epic, is channeling international royalties from his new album, “Christmas in the Heart,” to a British charity that serves meals to the homeless.

The overseas charity, Crisis of London, intends to deliver 15,000 meals to homeless people in Britain over the Christmas holiday.

The group establishing the fund, CAFAmerica, said it appears to be the first time a donor-advised fund will be used to channel the royalties from sales of a major music recording to charitable foundations.

When Mr. Dylan released “Christmas in the Heart” in October, he said that most of the U.S. royalties from the album would be donated to Feeding America, a U.S. charity.

CAFAmerica said that Mr. Dylan's album had so far raised $125,000 in overseas royalties that will be donated through the donor-advised fund.

“The problem of hunger is ultimately solvable,” Mr. Dylan said in a statement. That “means we must each do what we can to help feed those who are suffering and support efforts to find long-term solutions,” he said.

The album hit No. 1 on Billboard's U.S. Holiday Albums chart and its U.S. Folk Albums chart. “Christmas in the Heart” is the 47th album from Mr. Dylan.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

What's the first thing advisers should do when they get home from a conference?

After attending a financial services conference, advisers can be overwhelmed by options, choices and tools. What's the first thing they should do when they get back to their office?

Latest news & opinion

Is Fidelity competing with retirement plan advisers?

As the Boston-based mutual fund giant expands the products and services it brings to the retirement market, some financial advisers say the firm is encroaching on their turf.

Gun violence hits investment strategies, sparks political debates with advisers

Screening out weapons companies has limited downside.

Social Security underpaid 82% of dually entitled widows and widowers

Agency failed to tell survivors that they could switch to a higher retirement benefit later.

If Finra eases firm oversight of outside business activities, broker-dealers could lose revenue

Brokerage firms would no longer be able to charge reps for supervising nonaffiliated RIAs.

Galvin charges Scottrade with DOL fiduciary rule violations

Action of Massachusetts' top regulator shows states can put teeth into a rule under review by the Trump administration.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print