Nobel Prize

The Nobel Organizations

The Nobel Prize is surrounded by several organisations and institutions with different tasks related to the prize.
The Nobel Foundation
The Nobel Prize is financed by the Nobel Foundation, a private institution established in 1900 based on the will of Alfred Nobel.
The Nobel Prize Awarding Institutions
The process of selecting the Nobel Laureates is exclusively handled by the Nobel Prize awarding institutions.
The Royal Swedish Academy
Nobel Prize in Physics, Nobel Prize in Chemistry and Prize in Economic Sciences
The Nobel Assembly at Karolinska Institutet
Nobel Prize in Physiology or Medicine
The Swedish Academy
Nobel Prize in Literature
The Norwegian Nobel Committee elected by the Norwegian Parliament
Nobel Peace Prize
Award Money
The laureates are given a sum of money when they receive their prizes, in the form of a document confirming the amount awarded. The amount of prize money depends upon how much money the Nobel Foundation can award each year. The purse has increased since the 1980s, when the prize money was 880 000 SEK (c. 2.6 million SEK or US$350 000 today). In 2009, the monetary award was 10 million SEK (US$1.4 million). If there are two winners in a particular category, the award grant is divided equally between the recipients. If there are three, the awarding committee has the option of dividing the grant equally, or awarding one-half to one recipient and one-quarter to each of the others. It is not uncommon for recipients to donate prize money to benefit scientific, cultural, or humanitarian causes.

See Also:
Nobel Prize 2010
Nobel Prize 2009
Infosys Prize 2010
Infosys Prize 2009
ICC Awards 2010

For More Information:
http://nobelprize.org/
http://en.wikipedia.org/wiki/Nobel_Prize