Only one award is given each year, according to a rotating scheme – astronomy and mathematics; then geosciences; then biosciences. A Crafoord Prize is only awarded for arthritis when a committee decides that substantial progress in the field has been made. On Crafoord Day in April, the prize is presented by the King of Sweden, who also presents the Nobel Prize Awards at the ceremony in December. The prize is to fund further research by the prize winner. In 2012 it is US$600,000.