The Willard Gibbs Award, which consists of an eighteen-carat gold medal, the Willard Gibbs Medal, was founded in 1910 by William A. Converse. The medal was named after J. Willard Gibbs. The award recognizes "eminent chemists who ... have brought to the world developments that enable everyone to live more comfortably and to understand this world better." The award is currently sponsored by the Chicago Section of the American Chemical Society.