The Nobel Foundation is a private institution established in 1900
on the basis of the will of Alfred Nobel and the founding
statutes promulgated in connection with the will.
The Foundation is entrusted with protecting the common interests of the prize-awarding bodies appointed in the will and with representing the Nobel institutions externally. This includes, for instance, informational activities and the arrangements surrounding the presentation of the Nobel Prizes.
The Foundation is represented by a Board, which has its seat in Stockholm and consists of seven members and two deputies, Swedish or Norwegian citizens, who are elected by the Trustees of the prize-awarding bodies. The Board chooses from among its own members a Chairman, a Vice-Chairman and an Executive Director. The Trustees select one of the Foundation's auditors, who is to be an authorized public accountant, and they decide whether to discharge the members of the Board from personal liability for the preceding fiscal year. The other auditors are selected by the prize-awarding institutions, except that the Chairman is appointed by the Government.
One central task of the Foundation is to manage the assets made available through the will for awarding prizes in physics, chemistry, physiology or medicine, literature and peace. It shall manage these funds in such a way as to safeguard the economic base and guarantee the independence of the Prize Committees in their work of selecting prize winners.
The Foundation also administers the so-called Nobel Symposia, which are financed through its Symposium Fund.
Copyright © The Nobel Foundation 2007