Origin and history of foundation

late 14c., foundacioun, "action of founding," from Old French fondacion "foundation" (14c.) or directly from Late Latin fundationem (nominative fundatio) "a founding," noun of action from past-participle stem of Latin fundare "to lay a bottom or foundation" (see found (v.1)). The Latin word is glossed in Old English by staþol.

The specialized sense of "establishment of an institution with an endowment to pay for it" is from late 14c.; the meaning "that which is founded" (a college, hospital, etc.) is from 1510s; the meaning "funds endowed for benevolent or charitable purposes" is from early 15c.

The sense of "solid base of a structure" is from early 15c. The cosmetics sense of "colored cream applied to the face to alter or normalize the skin color" is by 1910, probably short for foundation makeup.

There before me on the make up table lay several sticks of grease paint of different colours. Like everything else in this world, an actor's make up for any part whatsoever, must have a foundation, or base, and this Mr. Maude began to spread over his face, using a camel's hair brush. Before doing this, however, he had rubbed cold cream all over his face, forehead, and neck, to prevent the skin from becoming irritated, and in order to give a smooth foundation for the grease paint. The base consisted of what is known as flesh-colour, which looks like a combination of yellow and dull old-rose. The actor put on the make up foundation of flesh-coloured paint all over his face. [Wendell Phillips Dodge, "Cyril Maude Makes Up As Grumpy," The Strand, June 1914]