Foundation refers to a non-profit legal person organization established in accordance with the provisions of these regulations and engaged in public welfare undertakings through property donated by social people, natural persons, legal persons and other organizations. Foundations are divided into those that are open to the public and those that are not allowed to raise funds from the public. Public offering foundations are divided into national public offering foundations and local public offering foundations according to the geographical scope of raising. According to the Regulations on the Management of Foundations formulated by the state, foundations must be registered with the civil affairs department before they can operate legally. Essentially, the Foundation is a non-governmental non-profit organization.

Functions of the foundation

1. Social welfare that the Foundation can use on a large scale shall be collected on a voluntary basis;

The purpose of the foundation is to serve the future of all mankind. In order to build a better society, the foundation needs to reflect on itself and realize its own development and innovation;

3. The foundation is an institutional model with legal person as the main body, and the funds it can raise will be higher than other non-profit organizations. Modern foundation has the ability of sustainable development to adapt to new social needs and changes;

4. The motive force for the development of civil society is the foundation.