The Templeton Prize is an annual award presented by the Templeton Foundation. Established in 1972, it is awarded to a living person who, in the estimation of the judges, "has made an exceptional contribution to affirming life's spiritual dimension, whether through insight, discovery, or practical works". The prize is named after Sir John Templeton (1912–2008), an American-born British entrepreneur and businessman, who was knighted by Queen Elizabeth II in 1987 for his philanthropic efforts. Until 2001, the name of the prize was "Templeton Prize for Progress in Religion", and from 2002 to 2008 it was called the "Templeton Prize for Progress Toward Research or Discoveries about Spiritual Realities". It has typically been presented by Prince Philip in a ceremony at Buckingham Palace.