The foundation, which has not yet been given a name, will also seek private funds.
In 2003, the foundation sought to determine what others thought it should focus on.
The Foundation also seeks to support traditional music and various art practices.
The Foundation has sought to honor this goal in several ways.
The Foundation seeks to "better the physical, mental and spiritual well being of children."
In addition, the union said, the foundation is seeking to delay paying into a pension fund until after a teacher's first year.
For the technology series, which is being done by a variety of commercial publishers, the foundation had sought professional writers and scholars.
The other foundation has sought to bring computers to public libraries in low-income areas and will expand into education.
Through its grants, the Foundation seeks to improve the quality of life, particularly for people and communities that face disadvantage.
Mr. Knight did not say how much money the foundation was seeking, but said it currently has around $130,000.