The Nobel Prize in Chemistry is awarded annually by the Royal Swedish Academy of Sciences to scientists in the various fields of chemistry. It is one of the five Nobel Prizes established by the 1895 will of Alfred Nobel, who died in 1896. These prizes are awarded for outstanding contributions in chemistry, physics, literature, peace, and physiology or medicine. As dictated by Nobel's will, the award is administered by the Nobel Foundation and awarded by the Royal Swedish Academy of Sciences. The first Nobel Prize in Chemistry was awarded in 1901 to Jacobus Henricus van 't Hoff, of the Netherlands. Each recipient receives a medal, a diploma and a monetary award prize that has varied throughout the years. In 1901, van 't Hoff received 150,782 SEK, which is equal to 7,731,004 SEK in December 2007. The award is presented in Stockholm at an annual ceremony on 10 December, the anniversary of Nobel's death.