Some of its property is governed by bilateral agreements between France and the Holy See, such as certain monastic buildings that are used by religious institutes.
The foundation's origins date back to a bequest made by the Cardinal de Joyeuse, ambassador of France to the Holy See under Henry IV, and by Anne of Austria, in 1635.
It demanded the surrender of all property belonging to the "Pious Establishments" and the Villa Medici by the representatives of the French embassy to the Holy See.
French ambassador Léon Bérard, along with his advisor Georges de Blesson, were not permitted to leave the Vatican, where they had taken refuge following the 1940 Armistice.
As the de facto guardian of the Foundation of the Pious Establishments, it was his task to negotiate with the fascist government to avoid the annexation of its property.