Profits from Merge Records' 15th anniversary set "Old Enough to Know Better" are earmarked to benefit the Future of Music Coalition, the Washington, D.C., non-profit organization.

Profits from Merge Records' 15th anniversary set "Old Enough to Know Better" are earmarked to benefit the Future of Music Coalition, the Washington, D.C., non-profit organization.

Chapel Hill, N.C.-based Merge -- operated by Superchunk singer/guitarist Mac McCaughan and bassist Laura Ballance -- has set a July 13 release date for the three-CD collection, budget-priced at $14.98.

Two discs feature catalog tracks by 42 Merge artists, including Superchunk, Neutral Milk Hotel, Spoon, the Magnetic Fields, Polvo, East River Pipe, Buzzcocks, the Clean, ... And You Will Know Us By The Trail Of Dead, Versus and Seaweed. The third CD includes new, previously unreleased or rare material by the label's current acts, incuding Richard Buckner, the Radar Brothers, M. Ward and Spent.

Merge will also mount a festival featuring 19 of its acts at the Cat's Cradle in Chapel Hill/Carrboro and the Carolina Theatre in Durham from July 29-Aug. 4.