The award is given out monthly to several authors who have published interesting, high-quality texts. The organizers of Redkollegia believe that it can help those who are trying to maintain high journalistic standards in Russia at a time when free, high-quality journalism is under pressure from the state, and the rights to free expression and free access to information are being systematically violated. The award was founded by the Sreda Foundation and supported by Boris Zimin.
In April 2022 Redkollegia began offering emergency financial aid for journalists who were in danger of persecution.