It was created on March 1, 1875, in Constantinople (Beyoğlu) by the efforts of Catholic Armenian Women. Its purpose was to help people in need, but first of all to take care of the children, helping them to resolve their education problems. The foundation had 6 basic and 42 administrative rules. Only women and young ladies could become members of this foundation. The foundation had a founder and administrative bodies, a president, a vice-president, a spokesman. There were general and administrative councils. The National School of Young Girls (Hamazgeatsʿ Oriordatsʿ Varzharan) received a big part of the Foundation’s budget. Varduian foundation bequeathed some part of its budget, too on the condition to spend the money for the education of needy girls.
 Pōghosian, Epʿrem, Patmutʿiwn hay mshakutʿayin ěnkerutʿiwnneru, vol. 1, typ. Mkhitarian, Vienna, 1957, 95-97.