The Prize is a silver eagle feather, a certificate, and $50,000 USD. The award was
endowed by Walter and Doris Neustadt of
Ardmore,
Oklahoma to ensure the award in perpetuity. The charter of the Neustadt Prize stipulates that the award be given in recognition of outstanding achievement in poetry, fiction, or drama and that it be conferred solely on the basis of literary merit. Any living author writing in any language is eligible, provided only that at least a representative portion of his or her work is available in English, the language used during the jury deliberations. The prize may serve to crown a lifetime's achievement or to direct attention to an important body of work that is still developing. The prize is not open to application. ==Selection==