Red Hot Chili Peppers bassist Flea and singer Anthony Kiedis will host an event next month to benefit the Silverlake Conservatory of Music, the music school founded by Flea, with the Chili Peppers and punk act Rancid scheduled to perform. The benefit will take place at Flea's home in Los Angeles on October 16th, which also happens to be the bass player's 50th birthday.

The evening will also include a dinner and a limited silent auction featuring support from President Bill Clinton, Chili Peppers drummer Chad Smith, Damien Hirst, designer John Varvatos, Maroon 5, Fender, Marc Jacobs and many others.

The donation amount to attend the event is $1,500.

The Chili Peppers helped raise $1 million for the school in August 2011 with a benefit concert at Club Nokia. Previous events have included performances from Metallica and other artists.

The conservatory is designed to offer music education to children from low-income homes who could not otherwise afford lessons.

The Chili Peppers will begin a lengthy North American tour on Sunday (September 23rd) in San Diego, in support of their latest album, I'm With You.