I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".
What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team?

This is a reward for those who do a lot of work. Establishing a successful project is not an easy task. It is all due to the efforts of the whole team and that is a very necessary fund for the business. they can use them to pump altcoin value.