Not less than 70% of the total income of the previous year. The foundation shall maintain and increase the value of the fund in accordance with the principles of legality, safety and effectiveness. Public foundations shall use at least 70% of the total income of the previous year for public welfare undertakings as stipulated in the articles of association, and non-public foundations shall use at least 50% of the total income of the previous year for public welfare undertakings. A foundation refers to a non-profit legal person established for the purpose of engaging in public welfare undertakings by using the property donated by natural persons, legal persons or other organizations in accordance with the provisions of these regulations.