Abstract: With the change of social wealth's form, the equity-based foundation has gradually become the main form of large public welfare foundation. The equity-based foundation is a kind of share-holding consortium, enterprise foundation, and non-public foundation, in whose management there are three typical issues, the exercising of equity, profit transfer between the foundation and relevant enterprises, and the operation of assets. The equity-based foundation shall exercise its equity by adopting restricted preferred shares and voting right delegation model; shall regulate profit transfer between the foundation and relevant enterprises by defining directors' duty of loyalty, compulsorily disclosing information and prohibiting related transactions; shall manage assets by appropriate professional teams and operation model, and making long-term arrangements for operating expenses.