I believe an initiative similar to the Foundation of Hearts could only be a positive thing. Not that I am claiming to know all the ins and outs.
I do believe however, that it would be an issue asking fans to generate a lump sum, and believe that even a direct debit of £20 a month is not unrealistic. I acknowledge that fans do already contribute in the way of ST and so on and that the small match day attendances may perceive that getting 1000 fans to sign up could provide a stumbling block. But, I do feel there is a bigger following than matchday crowds indicate with many loyal fans living out with the area as well as having other commitments which impact this.
As an example, 1000 fans giving £20 over a 12 month period = £240000 pa
Just a thought...