The Museum of the Year Award, formerly known as the Gulbenkian Prize and the Art Fund Prize, is an annual prize awarded to a museum or gallery in the United Kingdom for a "track record of imagination, innovation and excellence". The award of £100,000 is Britain's biggest single art prize, and the largest single museum arts prize in the world. The prize and is presented to a museum or gallery, large or small, anywhere in the UK, whose entry, in the opinion of the judges, best demonstrates a track record of imagination, innovation and excellence through work mainly undertaken during the previous calendar year.