Regulations on the Administration of Foundations Article 2 The term "foundation" as mentioned in these Regulations refers to a non-profit legal person established with the property donated by natural persons, legal persons or other organizations for the purpose of engaging in public welfare undertakings in accordance with the provisions of these Regulations. Regulations on the Administration of Foundations Article 3 Foundations are divided into public offering foundations (hereinafter referred to as public offering foundations) and non-public offering foundations (hereinafter referred to as non-public offering foundations). According to the geographical scope of fundraising, public offering foundations are divided into national public offering foundations and local public offering foundations.