On the occasion of Desanka Maksimovic's, great Serbian poet death, on 11th February 1993, the Serbian Government decided to permanently mark her name and work by establishing the foundation with the aim "to take care of the continuous cherishing of the memory of Desanka Maksimovic, the one of the greatest XX century poets of the Serbian language."

Government's decision was realized on the initiative of the Ministry of Culture of Serbia that appointed the National Library to be the founder of this honourable institution.

The Administrative Committee has appointed the Jury for awarding the prize "Desanka Maksimovic" and formed the working groups for gathering the co-founders of the Foundation, for studying, popularization and publishing of the works of Desanka Maksimovic, and for taking care of the commemorative place in Brankovina.

According to the Statute of the Foundation, there has been established the annual prize "Desanka Maksimovic" for the poetic work, which is awarded on the day of the birth of the poetess, on 16th May. The prize is awarded for the entire contribution to the Serbian poetry, and it can be received only once. The prize includes: the statuette of Desanka Maksimovic, the diploma and a certain amount of money. The Foundation also publishes the book of the awarded poet - "a selection of poems with a preface, biography and selected bibliography." The book is printed, at the latest, one year since the awarding of the prize.