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[1][2] making it one of the richest literary prizes in the world. Mary Carole McCauley, writing for the Los Angeles Times, called it "among the most prestigious awards that can be won by an American poet".[3]