In 1972, the Witter Bynner Foundation for Poetry was founded through a bequest from Bynner. It makes grants to perpetuate the art of poetry, primarily by supporting individual poets, translations, and audience development. Since 1997, it has funded the Witter Bynner Fellowship, the recipient of which is selected by the U.S. Poet Laureate. A Witter Bynner Poetry Prize was established by the American Academy and Institute of Arts and Letters in 1980 to support young poets. It was discontinued in 2003.