Nobel organization

The person in charge and the staff of the Nobel Society shall be selected through discussion by the awarding institution. These appointments are made regardless of nationality.

The directors of the Nobel Foundation are selected by the bonus distribution institutions, with a total of fifteen directors, and each bonus distribution institution selects three directors. In addition to the chairman and vice-chairman appointed by the Swedish government, the directors elect the board members of the foundation. Other main tasks of the board of directors are to review the annual report of the board of directors and the financial report of auditors, and to review and approve the work of the board of directors in that year.

The board of directors of the Foundation consists of five directors and three deputy directors. They elected an executive director from among the board members. The main task of the Council is to manage the funds and other properties of the Foundation.

The director is the chief executive officer of the foundation. He is responsible for drafting the basic direction of the foundation's investment policy, making suggestions to the board of directors on investment and personnel issues, and managing various properties of the foundation. He is also responsible for arranging the grand award ceremony in Stockholm. Among the five executive directors, ragnar Sohlman is the most outstanding. He was a friend and collaborator of alfred nobel before his death and one of the executors of his will. From the foundation's inception to the death of 1948, Mr. Surman held different positions in the foundation. It should be said that he always carried out the spirit of alfred nobel in his work. The existence of the foundation is largely due to his earnest enthusiasm and dedication in carrying out this will. With his death, the last person who linked the foundation with the donors no longer exists.

Since 1926, the Foundation has its own office building in Stockholm, namely the Nobel Building at Stuart Street 14.

The money from alfred nobel's legacy totals more than 31000000 Swiss kroner. According to the articles of association, most of the money will be used as the "main fund" (that is, the bonus fund, about 28 million kronor), and the rest will be used to set up the "building fund" (the rent of the administrative building and hall used for the annual award ceremony) and the "organization fund". Each of the five bonus departments has an "organization fund" to pay for the organization expenses of their respective Nobel societies.

The growth of the main fund is achieved by taking one tenth of its net income of the current year as supplementary funds, paying interest on undistributed dividends and delivering all or part of these undistributed dividends (not less than one third) as capital to the main fund. Every year, the net income of the main fund will be deducted by one tenth mentioned above, and then divided into five parts on average, which will be handed over to the bonus issuing institutions for use. Each awarding institution will keep a quarter of the share as the expenses related to the award, and the rest will be handed over to its own Nobel Society, and three quarters of each share will constitute a bonus.

In addition to organizing funds, departments awarding various bonuses also have "special funds" and "savings funds" at their disposal as expenses for certain special purposes within the prescribed scope.

All funds and other property are owned and managed by the Nobel Foundation.

In short, after deducting 32.5% of the income of the main fund (that is, 10% of the additional capital, plus 25% of the remaining 90% as the funds of the bonus department), it is divided into five equal parts, which is the amount of the annual Nobel Prize. The first prize awarded in 190 1 year is 1,800 kronor per 150. At present, the bonus is about 70% higher than the face value (198 1 year, and the amount of each bonus is one million Swedish kronor, equivalent to 6.63 times of 190 1 year. Of course, in actual value, it is much lower than this figure. Since 1946, the property and income of the foundation are tax-free except for the local real estate tax. Prior to this, * * * paid a total of13.5 million Swedish kronor. It is understood that both in law and in fact, the winner's country is exempt from income tax.

Naturally, the investment policy of the foundation should take maintaining and increasing its funds to increase the amount of bonuses as the first important factor. The will itself instructs the executor to invest the remaining property in "safe securities", thus forming the Nobel Fund. In the investment rules originally formulated for the board of directors in 190 1, the term "security securities" was interpreted as gilt-edged securities or loans secured by such securities or real estate, which were mainly issued or existed in Sweden and Norway. Due to the changes caused by the two world wars and their economic and financial consequences, it is necessary to reinterpret the term "security securities" according to the existing economic conditions and trends. Therefore, at the request of the fund board of directors, the original investment restrictions have been gradually relaxed. According to this situation, since 1958, foundations can, in principle, not only invest in securities and secured loans, but also freely invest in real estate or stocks.

However, some restrictions on foreign stock investment still exist. The purpose of these changes is to protect capital and income as much as possible. In this way, the bonus will not be reduced because of the devaluation of the currency, and it can also bear the reduction of the interest rate in the loan market without reducing this capital. The foundation mainly invests its funds in Sweden and Norway. To some extent, they also invest in other countries.