I think @acityinohio is referring to the context of this thread. The point of this thread is to cover how a new Major Grants Committee as outlined in ZIP 1012 and further refined in ZIP 1014 will operate.
As Zooko and Josh both mentioned the formation of a separate entity was not supported by the community polling process that chose ZIP 1012 as the model for moving forward with a future development fund. Which is now being distilled into ZIP 1014.
There are plenty of other threads such as Blocktowns and Lex-Nodes which discuss at great lengths the legal and decentralized virtues of a third entity and a legal charter, respectively, of which to continue the conversation in.