The Speculative Literature Foundation's Older Writers Grant is "awarded annually to a writer who is fifty years of age or older at the time of grant application, and is intended to assist such writers who are just starting to work at a professional level. We are currently offering one $750 grant annually, to be used as the writer determines will best assist his or her work."
I myself managed to get an Honorable Mention in 2009 (DW), which is a nice recognition even if it doesn't come with any cash. I didn't score anything in 2010, though I had some lovely correspondence with the contest administrator. And in the fury of running around dealing with family in March of 2011, I completely forgot about the grant deadline -- but I did put in a submission this year.
Anyway, their website was down for a while earlier in the month, but the deadline to apply is Saturday 31 March 2012. You do not need to be published to enter, all you need to submit is a writing sample, as listed in the rules.
And for you writers under 50? Get off my lawn.