The voting aspect could be conveyed by "Parliament" or similar. "Council", even "Consortium" have been proposed. "Foundation" is often used but was rejected in yesterday's meeting.
So basically it's a foundation but not called
foundationCall it whatever the hell you want. The people running it aren't calling it a foundation, and the role that it serves is certainly different from some of the other coin foundations that exist. But if you want to say it is "basically a foundation" go right ahead. I'm not sure anyone actually cares. I sure don't.