How was Institute of International Law awarded the Nobel Prize Peace?

Name: Institute of International Law.
Founded: 8 September 1873.
Founded Location: Ghent, Belgium.
Headquarters: Geneva, Switzerland.
Type: NGO, IGO, Society.
Coordinates: 46.220722°N 6.143681°E.
Noble Prize Year: Nobel Prize for Peace in 1904, for its striving in public law to develop peaceful ties between nations and to make the laws of war more humane.