Offered since 1954, the James Laughlin Award is given to recognize and support a second book of poetry forthcoming in the next calendar year. The award was endowed in 1995 by a gift to the Academy from the Drue Heinz Trust. It is named for the poet and publisher James Laughlin (1914–1997), who founded New Directions in 1936.
The winning poet receives a prize of $5,000, an all-expenses-paid weeklong residency at The Betsy Hotel in Miami Beach, Florida, and distribution of the winning book to approximately one thousand Academy of American Poets members.