PEN/Faulkner Foundation in the context of "National Book Award"

The Folger Shakespeare Library is an independent research library on Capitol Hill in Washington, D.C., United States. It has the world's largest collection of the printed works of William Shakespeare, and is a primary repository for rare materials from the early modern period (1500–1750) in Britain and Europe. The library was established by Henry Clay Folger in association with his wife, Emily Jordan Folger. It opened in 1932, two years after his death.

The library offers advanced scholarly programs and national outreach to K–12 classroom teachers on Shakespeare education. Other performances and events at the Folger include the award-winning Folger Theatre, which produces Shakespeare-inspired theater; Folger Consort, the early-music ensemble-in-residence; the O.B. Hardison Poetry Series; the PEN/Faulkner Foundation Reading Series; and numerous other exhibits, seminars, talks and lectures, and family programs. It also has several publications, including the Folger Library editions of Shakespeare's plays, the journal Shakespeare Quarterly, the teacher resource books Shakespeare Set Free, and catalogs of exhibitions. The Folger is also a leader in methods of preserving rare materials.

The PEN/Faulkner Award for Fiction is awarded annually by the PEN/Faulkner Foundation to the authors of the year's best works of fiction by living Americans, Green Card holders or permanent residents. The winner receives US$15,000 and each of four runners-up receives US$5000. Judges read citations for each of the finalists' works at the presentation ceremony in Washington, D.C. The organization claims it to be "the largest peer-juried award in the country." The award was first given in 1981.

Mary Lee Settle was one of the founders of the PEN/Faulkner Award following the controversy at the 1979 National Book Award, when PEN America voted for a boycott on the grounds that the award had become too commercial.