The Ruth Lilly Poetry Prize is awarded annually by The Poetry Foundation, which also publishes Poetry magazine. The prize was established in 1986 by Ruth Lilly. It honors a living U.S. poet whose "lifetime accomplishments warrant extraordinary recognition"; its value is $100,000 making it one of the richest literary prizes in the world. The prize has been called "among the most prestigious awards that can be won by an American poet". Source: Wikipedia (en)