The word "fundação" can mean (Houaiss):
instituição privada ou do Estado que é fundada na constituição de um patrimônio, buscando determinado fim em benefício da coletividade
which is close to this meaning of "foundation" (Longman):
an organization that gives or collects money to be used for special purposes, especially for charity or for medical research
So it's possible to imagine someone saying: "We are a commercial business, not a charity. We are not a foundation."
I was tempted to put We are not a charity which is a common enough English expression but cross checking only turned up "(organization) obra de caridade" which seems to be heading towards "charitable work", and with no mention of "fundação". Grrr - next time!
"We do not have a foundation", would this be correct? It told me that it was wrong.