 The Institute holds a biannual translation prize to recognize translators who have successfully translated a work from Spanish to English and helped to make knowledge accessible.The Institute holds historical and educational lectures in order to enrich American's understanding and knowledge of the Spanish-Speaking World.Beginning in 1978, The Queen Sofía Spanish Institute's Gold Medal was annually awarded to Americans and Hispanic people in recognition of their contributions to the betterment of relations between the United States and the Spanish Speaking World.This event brings together an array of international and American leaders and benefactors for a festive night of celebration.