Academy of American Poets saw its inception in the year 1934, and since then it has been contributing to the poet society by funding the poets and marketing their work. Some of the on-going awards that this academy gives away every year are:
- Academy of American Poets Fellowship: $25,000 to one poet every year for their contribution to the poetry world.
- Aliki Perroti and Seth Frank Most Promising Young Poet Award: $1,000 for the best contributing poet of 23 years of age or less. This is also awarded once every year to one poet.
- Harold Morton Landon Translation Award: Awarded $1,000 to one translator poet for his distinguished work as a translator once every year.
- James Laughlin Award: $5000 awarded with all expenses paid to a hotel stay in Florida at The Betsy Hotel on Miami Beach. In addition to this, one thousand copies of the winning book are distributed to the poets of the academy.
- Lenore Marshall Poetry Prize: $25000 award for the best poetry book published in the last year. This like other awards is also limited to America. One hundred poets from the academy get to read the book.
- Raiziss/de Palchi Translation Awards: $10,000 is awarded as prize money and $25,000 fellowship is also awarded. This award is given to poets who translate Italian poetry to English in an extraordinary way.
- Wallace Stevens Award: Annually, $100,000 stipend is awarded to a poet who has proved his competence in poetry. This particular category winner is chosen by the Board of Chancellors of Academy of American Poets.
- Walt Whitman Award: An award of $5,000 and first book publication is given to a poet. In addition to this, the winner also gets a publication by Graywolf Press. This is not all; all expenses paid stay at Civitella Ranieri Center in the Umbrian region in Italy is also awarded to the winner. One thousand books of the winning poet’s work are also distributed among the poet members of the Academy of American Poets.