Gratitude
Let us start off by earnestly thanking every one of you for participating in the discussion, feedback and collaboration process around the Foundation so far. We are especially grateful to all the proposal writers, reviewers and former Working Group members who gave their time and energy to support a greater vision for the Steem ecosystem.
We would also like to thank @Ned and Steemit Inc for granting us the funds we need to hire legal council and get the Foundation infrastructure in place. Their trust and support Steemit Inc have shown us will help us actualize our goals and plans.
We respect your time and will make the rest of this brief.
Current Status
The current Interim Board (placeholders for the real board that hasn't been elected yet) is currently working on setting up the structure of the Foundation.
We're exploring legal avenues to having it incorporated as a non-profit, looking at setting up banking, formulating regular documents such as Minutes (meeting proceedings), Agendas (meeting schedules), Reports and so forth.
Interim Board
The Interim Board is a temporary, "filler board", that's only there to build the structure of the Foundation. In short, we're the construction team who will build the house; we won't live in it.
The team consists of 
Not all of the above were contributors to The Merger proposal but some had valuable ideas put forth in their own proposals.
Immediate Next Steps
We are currently sourcing blockchain-experienced Lawyers to set up the legal status and structure of the Foundation and already have received one quote. This is vital as we are setting up a legal entity.
We are also exploring banking and evaluating our options. We must hold Fiat and utilise it as necessary and to do that need an institution that will let us do so without charging us an arm and a leg.
Continuous Improvement and Communication
We need you to hold us to our mission of building a quality, transparent, useful and exemplary Foundation. Your feedback and questions are invaluable.
We have re-purposed the Steem Alliance Discord in order to ensure we have a central location that already has a lot of joined users to communicate through.
Thank you.
Sincerely,
The Foundation Interim Board