It may not be the establishment of a fund organization according to law, but only relying on the foundation or opening a bank account in the name of an individual, and setting up an unregistered unincorporated fund with personal credit guarantee. This kind of fund can also be called the Housing Reserve Fund if you save some money for buying a house in the future, or the Poverty Alleviation Fund if several people pool some money to help poor students. These are funds in a broad sense and cannot be called foundations. Foundations are legally registered entities with independent legal personality and need more constraints and restrictions.