Pretty much anyone could hang up a shingle and collect votes on albums. I did it for about 8 years back in the era when the Usenet folk group was vibrant, and I only gave it up because I got to be too lazy to manually run the tallying as the voter pool got near 100. There's probably software for vote counting now.

There is nothing in the way of the Mudcat Folk Awards or the Lizzie Folk Awards.   You might want to figure out how one would limit voting to real people, one vote each.

fRoots used to have a readers' album poll in the long ago days, but my vague recollection is that it was gently put to sleep because it always returned the predictable UK folk-rock winners, year after year.