The foundation, Friends of the Discalced Carmelite Nuns of Arlington, is made up of supporters and benefactors who stand with the nuns despite Bishop Michael Olson's describing the nuns' actions as "scandalous disobedience," and urging people to disassociate with them "for the good of your souls."
Olson has denied having any designs on the property. However, representatives for the nuns believe it may be a key factor in their conflict.
"And we're hoping now that he understands that this property is something he will never get his hands on that he will go back to concentrating on the other million and a half Catholics and leave these sisters alone," said Matthew Bobo, an attorney for the nuns and a director of the new foundation.
Other members of the board include Michael Mallick, Ben Doskocil, Rose Howe, Julie and Thayne McCulloh, Carol Ziegler Portwood, and Stephen Powell.
Tarrant County records indicate the property transfer happened in late April.
Earlier this month, the nuns announced their association with the Society of Saint Pius X to provide priests for sacraments and oversee governance of the monastery. In response, Olson released statements calling the nuns' actions illicit and invalid.
In a letter to the nuns, Mallick wrote that the board stands in full support of their association with the Society. He also said the sole mission of the foundation is to "protect, preserve and apply the assets entrusted to you by the Foundation for your sole benefit."