In order to carry out Luise Goldmann's task, King Alfonso XIII constituted the Fastenrath Prize Foundation, on May 12, 1909, dependent on the Royal House, with a founding capital of 70,000 pts., assigning to the "Spanish Royal Academy" the administration of the foundation, and therefore, the faculty to submit to the monarch the proposals for the awarding of said prizes, after discussion and voting, being the monarch the one who would ultimately grant them.