Yes. A foundation is a non-profit legal person established in accordance with the law for the purpose of engaging in public welfare undertakings using property donated by natural persons, legal persons or other organizations.

1. Characteristics of foundations

As a basic social organization and institutional form, foundations are different from governments, enterprises, and general non-profit organizations. , non-profit, non-governmental and fund trust are the basic characteristics of foundations.

1. Public welfare

The public welfare of foundations is reflected in three aspects: First, foundations originate from donations and are an institutionalized and organized form of public welfare donations; The first is that the foundation has a clear public welfare purpose; the third is that the foundation has a clear public welfare purpose and benefits specific groups and the entire society through various project activities. The public welfare determines that the foundation is essentially a social welfare organization.

2. Non-profitability

Non-profitness is reflected in the operation management of the foundation and its corresponding institutional norms, which is reflected in three aspects: First, there is non-profit distribution There is an income constraint mechanism, which requires the foundation’s donors and actual trustees not to obtain benefits from the foundation’s property and its operations; second, there is a non-profit organizational operation and management mechanism, which requires the foundation to effectively avoid higher risks. and a self-control mechanism with higher returns; third, there is a non-profit property preservation mechanism, which requires foundations not to change property and property rights structures through other methods other than donations.

3. Non-governmental nature

The non-governmental nature of foundations is the main feature that distinguishes them from governments, which is reflected in three aspects:

First, foundations It is different from the government in its decision-making system and is an independent legal person with independent decision-making and autonomy;

Secondly, the foundation is different from the government in its governance structure and is a democratically governed and open social organization;

Third, the foundation is different from the government in its operating mechanism. It is an organization that pursues core competitiveness and survives the fittest in the market.

4. Fund trustworthiness

A foundation is a collection of public welfare properties based on donations. It is a public welfare property in the form of a fund. It has two meanings: First, it is a fund. A foundation is essentially a trust relationship, a public trust between donors, trustees and beneficiaries around public welfare property. Good credibility is its core value; secondly, a foundation is a property that exists in the form of public welfare property. Collection, maintaining and increasing value through effective property operations is the embodiment of its vitality.

Legal Basis

Article 87 of the "People's Republic of China and Civil Code"

The definition and type of non-profit legal persons are for public welfare purposes or other A legal person that is established for a non-profit purpose and does not distribute the profits obtained to its investors, founders or members is a non-profit legal person.

Non-profit legal persons include public institutions, social groups, foundations, social service agencies, etc.