The Foundation for the Development of Education Sarajevo was established in Sarajevo in 2001 as a non-governmental organization with the characteristics of a waqf, as defined by the laws of Bosnia and Herzegovina. It was registered by the Ministry of Justice of the Federation of Bosnia and Herzegovina with the purpose of seeking and creating academic, material, and legal conditions for the advancement of education in Bosnia and Herzegovina.

A group of business people from Turkey, along with several intellectuals from Bosnia and Herzegovina, as founders, work together to realize the Foundation’s plans. The founders agree that the management and ownership of the Foundation possess the characteristics of a waqf.

The governing and the expert bodies of this Foundation are:

• The Board of Trustees of IUS
• The Executive Committee of the Foundation for Education Development Sarajevo
• The Assembly of the Foundation for Education Development Sarajevo
• The Advisory Board of IUS

Members of the Foundation's Management Board and the founders:

• Hasan Topaloğlu (President)
• KALEM VAKFI Representative Musa Şahin (Member of the board)
• ENSAR VAKFI Representative İsmail Şirin (Member of the board)
• İLİM YAYMA VAKFI Representative Nurettin Alan
• TÜRGEV VAKFI Representative Burcu Birinci
• İLİM YAYMA CEMİYETİ Representative Mustafa Yelek
• M.Sc. Şaban Erden
• Prof. Dr. Adem Baştürk
• Mehmet Alacacı
• Abdullah Baysak
• Dr. Mehmet Köse