The announcements were made by the American Music Center, which administers both funds.
The Copland Fund, which was created with a bequest from the composer, handed out $500,000 to 78 groups including Alarm Will Sound, the Minnesota Orchestra, and the string quartet Ethel. The grants recognize a commitment to contemporary American music.
"This year's Performing Ensembles Program panel has chosen to recognize with significant support a number of smaller organizations, new applicants, and distinctive new directions in contemporary music, with a welcome geographic spread," said composer John Harbison, the president of the fund.
The Cowell Fund was created with a bequest from Cowell's widow, who asked that her estate be used to support "the performance and appreciation of the music of Henry Cowell and to support other experimental composers whose music would have interested him."
This year, the fund provided $10,000 to seven organizations and individuals, including the Erick Hawkins Dance Company and Music for Homemade Instruments.
"The Cowell Estate is delighted to support a number of wonderful performers and organizations this year," said composer Richard Teitelbaum, executor of the Cowell estate. "The geographic distribution reflected in the list of grantees is particularly remarkable. Not only are there several projects by European performers taking place in Europe, including one by an ensemble dedicated to spreading knowledge of American music in Italy, but there are also performances of Henry Cowell's works scheduled throughout his own country, from downtown New York City to the Belcourt Indian reservation in North Dakota."