After the projects of 2004, 2005 and 2006, Corsaro became a foundation in 2007, as non-profit organisation and purely charitable, without intention of pecuniary profit for its members.

Objectives:

- Create, apply and promote a school syllabus justifying for the potential young people in situation of secondary school failure, subject to the Law on private teaching (L.R.Q., C E-9) and of its rules.

- To offer to the children of school age to continue their secondary formation in a way justifying while being formed as Master on sailing ships of cruising.

- To develop the regard of oneself, the leadership and the team spirit in the children of school age through the task as a crew of sailing ships of cruising, arts of the circus, the martial arts, the visual arts and the performing arts.

- To promote the organization, animation and the administration of extra-curricular activities in relation with the schools.

- To receive gifts, legacy and other contributions of comparable.

- The objects do not allow however the subscribers or their having right to recover in some form that it is, the money which they will have paid with the legal entity.

In the event of liquidation of the legal entity or distribution of the goods of the legal entity, the latter will be reserved for an organization carrying on a similar activity.

The legal entity can acquire and hold actions of joint stock companies, sell them or to have differently which it. The board of directors is composed of three (3) administrators; this number can be modified in accordance with article 87 of the Law on the companies.

The members can, at the time of an assembly, to relieve an administrator of the legal entity. The administrator council of the assembly must mention that such a person is liable to dismissal as well as the principal fault that one reproaches him.

The board of directors can decide, when it judges convenient, that the annual assembly and the election of the administrators will take place out of Quebec.

The board of directors sends an opinion written to the members, at least 30 days before the date of this assembly.

The board of directors can, when it considers it convenient:

to make loans of sums of money on the credit of the legal entity;

to emit obligations or other values of the legal entity and to give them in guarantee or to sell them for the prices and let us be considered to be suitable;

to mortgage the buildings and the pieces of furniture or differently to strike of an unspecified load the movable property of the legal entity.