Dori Berinstein's film explores the life of the PEGOT-winning composer.
The British actress will be presented with the fellowship on February 16.
The Harry Potter star will reprise his performance in Martin McDonagh's The Cripple of Inishmaan in April.
The Golden Globe Award-winning Disney musical has some Great White plans.
The August: Osage County stars fail to deliver any wins for the Weston family.
Stars Meryl Streep and Julia Roberts did, however, receive nominations from the Hollywood Foreign Press.
The film adaptation of the Broadway musical will be released next year.
The new film comes on the heels of the premiere of Disney Theatrical Productions' stage-musical version of the story directed by Mary Zimmerman.