Harmony Ives, widow of Charles Ives (1874-1954), bequeathed the royalties from her husband’s music to the Academy to be used for scholarships for young composers. Six scholarships of $7,500 and two fellowships of $15,000 are now given annually. In 1998, the Academy inaugurated the Charles Ives Living, which gives an American composer $100,000 a year for two years to free a promising talent from the need to devote his or her time to any employment other than music composition during the period of the award. In 2008, the Academy awarded the inaugural Charles Ives Opera Prize of $50,000, to be given to a composer and librettist of a recently produced work.
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