Legal Definition of Foundation: A charitable organization; an endowment of moneys to a charitable organization. An individual can establish a fund or foundation, the earnings of which are designated to go for charitable purposes | Learn the legal definition of a foundation and its importance for business owners. Discover different types and examples of foundations, such as the Bill and Melinda Gates Foundation and the Ford Foundation. Explore the philanthropic impact, tax benefits, and corporate social responsibility associated with foundations. Establishing a foundation can make a positive difference, offer tax advantages, and enhance your company’s reputation. Start making a lasting impact by creating a foundation today