The Steem Foundation is a non-profit US-based organization that was recently created to support the advancement, development, promotion and utility of the Steem blockchain and its ecosystem.
The Steem Foundation was started as a community idea in 2019. It quickly took off and after much hard work by the Working Groups that were sequentially formed, a series of structural proposals were written and submitted by the Steem community members. The proposals were then voted on and the building process began.
Currently, an Interim Board of Directors is in the process of ensuring the Steem Foundation has a strong start. Everyone involved in the Steem Foundation are volunteers who dedicate their time and expertise to a common vision.
More information can be found by following the Steem Foundation blog at https://www.steemit.com/@steemalliance which also houses meeting minutes and volunteer/participation opportunities.