MacArthur Fellowship

The MacArthur Fellowship is an award issued by the MacArthur Foundation[?]. It is awarded each year to typically 20-40 citizens or residents of the USA. Recipients must "show exceptional merit and promise for continued and enhanced creative work". As of 2002 the award consists of quarterly payments for five years totalling $500,000.

Program overview - http://www.macfound.org/programs/fel/fel_overview.htm