The Norwegian Nobel Committee each year awards the Nobel Peace Prize (Norwegian and ) "to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses." It is one of the five Nobel Prizes established by the 1895 will of Alfred Nobel (who died in 1896), 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 Norwegian Nobel Committee and awarded by a committee of five people elected by the Parliament of Norway. The first Nobel Peace Prize was awarded in 1901 to Frédéric Passy and Henry Dunant; the prize was most recently awarded to the Tunisian National Dialogue Quartet in 2015. Each recipient receives a medal, a diploma, and a monetary award prize that has varied throughout the years. In 1901, Passy and Dunant shared a Prize of 150,782 Swedish kronor, which was equal to 7,731,004 kronor in 2008. The Peace Prize is presented annually in Oslo, in the presence of the King of Norway, on December 10, the anniversary of Nobel's death, and is the only Nobel Prize not presented in Stockholm. Unlike the other prizes, the Peace Prize is occasionally awarded to an organisation (such as the International Committee of the Red Cross, a three-time recipient) rather than an individual.