International Olympic Committee
The IOC organises the modern Olympic Games and Youth Olympic Games, held in summer and winter, every four years. The first Summer Olympics organised by the IOC was held in Athens, Greece, in 1896; the first Winter Olympics was in Chamonix, France, in 1924. Until 1992, both Summer and Winter Olympics were held in the same year. After that year, however, the IOC shifted the Winter Olympics to the even years between Summer Games, to help space the planning of the two events from one another, and improve the financial balance of the IOC, which receives greater income on Olympic years. The first Summer Youth Olympics were in Singapore in 2010 and the first Winter Youth Olympics were held in Innsbruck in 2012.
Summer Olympic Games
The Summer Olympic Games () or the Games of the Olympiad, first held in 1896, is a major international multi-sport event held once every four years. The most recent Olympics were held in Rio de Janeiro, Brazil. The International Olympic Committee (IOC) organises the Games and oversees the host city's preparations. In each Olympic event, gold medals are awarded for first place, silver medals are awarded for second place, and bronze medals are awarded for third place; this tradition began in 1904. The Winter Olympic Games were created due to the success of the Summer Olympics.