The Pulitzer Prize is a U.S. award for achievements in newspaper and online journalism, literature and musical composition. It was established in 1917 by provisions in the will of American (Hungarian-born) publisher Joseph Pulitzer, and is administered by Columbia University in New York City. Prizes are awarded yearly in twenty-one categories. In twenty of these, each winner receives a certificate and a US$10,000 cash award.
The formal announcement of the prizes, made each April, states that the awards are made by the president of Columbia University on the recommendation of the Pulitzer Prize board. This formulation is derived from the Pulitzer will, which established Columbia as the seat of the administration of the prizes. Today, in fact, the independent board makes all the decisions relative to the prizes. In his will Pulitzer bestowed an endowment on Columbia of $2,000,000 for the establishment of a School of Journalism, one-fourth of which was to be "applied to prizes or scholarships for the encouragement of public service, public morals, American literature, and the advancement of education."
Visit the Pulitzer Prize website.