During his 2024 Mood Swings tour, King will roll out initiatives including a hotline for touring artists.
The award will be presented on May 18 during a gala on Ellis Island.
Hip Hop 4 Peace founder Tina Marie Tyler also among the honorees at event being held on National Gun Violence Awareness Day, June 2
In honor of the donation, which will fund music education programs, the museum is renaming its rooftop terrace The Ray Charles Terrace at the Grammy Museum.
Jay-Z, Diddy and more were in the crowd for an epic Pass the Mic Live! plus Cohen's impactful speech, in which he addressed the Israel-Gaza conflict.
The late philanthropist and wife of music industry legend Clarence Avant "was a collector of souls who wanted to make sure everyone got the chance to fly."