Government-founded social organizations are a social governance innovation model with Chinese characteristics, reflecting a profound restructuring of the relationship between the state and society. The Chinese government is rapidly founding various community foundations, among which there are obvious differences in the functional positioning and operational mechanisms of government-led community foundations. With the help of fs/QCA 3.0 software, a qualitative comparative analysis of the fuzzy set of 19 typical cases reveals that the causes of these differences are not single, but a complex result of a combination of multiple factors. In this regard, five explanatory models were constructed: development-led, issue-derived, resource mobilization, community creation, and policy mobilization. Among them, the "policy mobilization type" accounts for the largest share and tends to cultivate social organizations and build public welfare platforms as organizational goals, which is consistent with the policy goals and preferences of the Chinese government in governance innovation.