The process of establishing a Foundation is relatively straight forward and is not dissimilar to that of setting up a Company.
There are three basic components that make up a Foundation:
The Founder established the Foundation for a specific purpose. The purposes are contained within the Foundation Charter and articles. The Founder then appoints a Foundation Council to oversee and manage the Foundations assets in accordance with his/her wishes. From time to time the Foundation Council as directed would distribute the assets, or a proportion thereof to the beneficiaries.