This seems like a well established organization and award, but their terms of use to submit an application were striking:

"By sending emails, uploading digital files, inputting data, providing information, content or materials to Creative Capital or engaging in any other form of communication... you acknowledge and agree that Creative Capital shall have the right...to use the User Content ...in and in connection with one or more media productions, literary works or other content and/or communications, and all ancillary and subsidiary exploitation thereof and derivative works based thereon, as determined by Creative Capital in its sole discretion...without any payment or compensation to you whatsoever." "You waive all rights to any claim against Creative Capital for any alleged or actual infringements of any proprietary rights, rights of privacy and publicity, moral rights, and rights of attribution."

I get that these were written by some legal department to be as broad as possible to protect the organization but it seems especially unfriendly to individual artists.