Define the mission and purpose
Choose the type of foundation
Research legal requirements
Select a name for the foundation
Draft the governing documents
Determine the board of directors or trustees
Register the foundation with the appropriate authority
Obtain tax-exempt status if applicable
Open a bank account
Create a budget and funding plan
Set up accounting and recordkeeping systems
Develop policies and procedures
Begin fundraising or secure initial funding
Launch programs or grantmaking activities
Maintain compliance and file required reports