Nobel Foundation
In accordance with Nobel's will, the primary task of the Nobel Foundation is to manage the fortune Nobel left after him in a fund. Another important task of the Nobel Foundation is to represent the Nobel Prize to the outside world and to take charge of informal activities and issues related to the awarding of the Nobel Prizes. The Nobel Foundation is not involved in any way in the process of selecting the Nobel laureates. In many ways the Nobel Foundation is similar to an investment company in that it invests money in various ways to create a solid funding base for the prize and the administrative activities. The Nobel Foundation is exempt from all taxes in Sweden (since 1946) and from investment taxes in the United States (since 1953). Since the 1980s the Foundation's investments began to earn more money than previously. At the beginning of the 1980s the award money was 1 million SEK but in 2008 the award money had increased to 10 million SEK.