In May 2012 the Board established the WiN Honorary Award in Kalmar, Sweden to honour a person dedicated to WiN development in finance or other remarkable contributions. It is open to men, organizations or WiN members. It is not necessarily an annual award. The President and WiN Executive members are not eligible for nomination until they have completed their terms of service. The recommendation procedure and time schedule is the same as those for the WiN Award.