A sheltered foundation is a philanthropic entity operating under the aegis of another entity which exploits specific funds held in accounts maintained by the latter. In fact and in law, a sheltered foundation is treated as a flexible philanthropic means of achieving objectives defined contractually between it and the umbrella foundation, whereby the latter performs a supporting role for its sheltered foundation in the deployment of its philanthropic public-interest activities, also enabling the sheltered foundation to benefit from tax benefits due to its associative status.