[1] The prize of US$50,000 is presented to an author in honor of a third to fifth book of fiction and is meant to offer encouragement and significant financial support to a mid-career writer who has passed beyond eligibility for debut work awards.

The winner is selected by a jury and invited to St. Francis College (SFC) in Brooklyn, New York, for a speech.

The winner of the prize was announced from a whittled down shortlist during the Brooklyn Book Festival every other year in September; however, SFC did not offer the award in 2021 due to the COVID-19 pandemic and hasn't initiated a selection process or determined any more winners.

Jury: Francine Prose, Rick Moody, Darcey Steinke.

[5] 2009 Jury: Jonathan Lethem, Heidi Julavits, Ben Marcus, Ayelet Waldman, Michael Chabon.