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Bank Of America Investment By Staff

Settlement (1) See financial settlement. (2) In the United States, an irrevocable action that relieves the plan or plan sponsor of the obligation for a pension benefit and that eliminates the risk to the plan assets used to carry out the settlement. sum benefit to a plan participant, thus discharging any further benefit obligation to the participant. Settlement is defined in FASB Statement No. 88.

Investment Opportunity (AXcess News) New York - Thanks to $15 million collected in settlements with the New York state Attorney Generals office from major record companies that had violated state and federal laws prohibiting "pay for play" (also called "payola"), the Rockefeller Philanthropy Advisors today launched a new grant program by releasing a Request for Applications for the New York State Music Fund.

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Banc Of America Investment This program is funded by settlements and will make contemporary music of all genres more accessible to diverse audiences and communities within New York State. Grants from the Music Fund will be disbursed to nonprofit organizations associated with music education and appreciation efforts.

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Banking Investment The settlement agreement stipulated that funds paid by music businesses would support music education and appreciation for the benefit of New York State residents. The Attorney General's Office enlisted the services of Rockefeller Philanthropy Advisors to develop and manage the grant program. Rockefeller Philanthropy Advisors, a nonprofit organization, is one of the nation's largest and most experienced philanthropy services and has developed or facilitated more than $850 million in giving over the past decade.

Investment Solution Strategic "This is a creative vehicle through which grants to well-established nonprofits will enable people from all across New York State, from all walks of life, to experience the joy of music," said Melissa Berman, President and CEO of Rockefeller Philanthropy Advisors. "We're excited about our role in helping people of all ages discover emerging artists, sample music genres new to them or perhaps learn to play an instrument."

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Investment Banking Services Special emphasis of the Music Fund will be on reaching underserved populations -- those whose opportunities to experience a variety of music have been limited by socioeconomic status, ethnicity, geography or disability -- and broadening awareness of underrepresented music -- artists, genres or styles with limited access to commercial broadcast or other mass distribution vehicles.

Bank Investment Funded activities must take place in New York State and benefit New York State residents. Generally, funded projects are to be completed within a one-year period, but a limited number of two-year grants will be awarded. Further, the Music Fund will also consider from nonprofit organizations a limited number of special initiative proposals that address the music field's ability to monitor and maintain an open and fair marketplace for the production and distribution of music in New York State. Grant proposals will be evaluated by an Advisory Review Panel knowledgeable about the range of music proposed and communities throughout New York State.

Alternative Investment Full details of the grant program are available at http://www.rockpa.org/music.

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