The Indianapolis Prize is given every other year to an individual who has made extraordinary contributions to conservation efforts involving a single animal species or multiple species. Beginning with the 2014 presentation, the Indianapolis Prize winner will receive an unrestricted cash award of $250,000, increased from $100,000 in previous years, plus the prestigious Lilly Medal. Also beginning in 2014, the five non-winning Prize finalists will receive awards of $10,000 each.
The nominees for the biennial Prize, the world's leading award for animal conservation, are reviewed by two international committees — a nine-person nominating committee that narrows the field down to six finalists, and a jury that selects the winner. New nominating committee and jury members are chosen for each two-year Prize cycle, and they include some of the leading people in the conservation field.
Once the finalists have been selected, an original video is produced on location for each finalist that focuses on their lives and work. These high-definition video profiles are made available at no charge to the finalists and their organizations to assist them in promoting their work to donors and other audiences.