A foundation legal person refers to a legal person established with funds for the purpose of social welfare. It has independent property rights. The foundation does not have its own members or members, and the managers of the foundation are not members of the foundation. The change of managers should not affect the existence of the foundation.
Legal basis: Article 87 of the Civil Law of People's Republic of China (PRC) is a non-profit legal person established for public welfare or other non-profit purposes and does not distribute profits to investors, promoters or members.
Non-profit legal persons include institutions, social organizations, foundations and worldwide social service institutions.
Measures for the Administration of Foundations Article 2 The purpose of the Foundation's activities is to promote the development of scientific research, culture and education, social welfare and other public welfare undertakings through financial assistance. Foundations are privately established by the people. As a non-state financial allocation institution, it is a private enterprise voluntarily donated by domestic and foreign enterprises, institutions, social organizations, other organizations and individuals.