ALA stands for American Library Association. They have the most well-known awards, some of which are also the oldest.
The Newbery was started in 1921 for the most distinguished book of American literature for children. It is usually a novel and awarded to the author.
The Caldecott began in 1938 and is given to the illustrator of the most distinguished American picture book of the year.
Both awards also give a few honor awards for "second place".
In recent years several new awards and lists have been developed with more specific criteria and/or subject matter depending on the organization's interests. Our libraries contain numerous award winning titles.