The Recording Academy's MusicCares COVID-19 Relief Fund has been championing for music industry professionals in need of financial assistance since the start of this global pandemic. However, as of Thursday, April 30th, the charitable foundation announced that has been depleted and has been forced to stop accepting new applications.
"Unfortunately, until we can raise more money for our COVID-19 Relief Fund, we can no longer accept new applications from those seeking assistance. While our goal is always to provide support to everyone in need, we are currently bound by the funds available," the Foundation said in a statement.
The fund, which began in March, raised over $14 million in donations starting with $1 million from the organization itself and its affiliate, The Recording Academy. From there, individuals and corporate partners like Spotify, SiriusXM, and Pandora rallied behind to raise the rest.
"It is the largest amount of money raised, with the most recipients helped, for any single event in our history," MusiCares continued. "To date this year, we've vetted and approved 20,200 individuals to receive assistance. For context, that's more than double the number of music people we typically serve in one year. But, there's still so much work to be done.
"We aren't giving up and continue to work relentlessly to raise additional funds, while furthering our commitment to provide leadership in other ways. These initiatives include continuing our advocacy work in Washington D.C., providing guidance for artists as they navigate this new territory, and fostering discussions with a broad group of leaders about the future of our industry."
The organization will continue to accept donations on its website. Their charitable partner Spotify also announced that they are committed to matching 100% of the donations made for a limited time.