@fBoyle-- I'm not entirely sure if the Nobel Prize monetary award is no-strings-attached. I've heard that for the most part, winners of the Nobel Prize can do whatever they want with it. That includes things like buying a house or a car. But I've also heard that in some countries, like the US, Nobel Prize winners have to give some of the award to the government as tax. I think can be up to half of the award in the US.
Individuals usually decide what they want to do with the money. But if the Nobel Prize winner is an organization or a union, such as the European Union, the money is usually spent for social causes like child welfare.
What I would like to know is where the Nobel Prize organizers get all the money. Donations perhaps?