How do I get the lowdown on a "foundation" the has placed a bid on an old church in town???? their web site is all rainbows and sprinkles. I want to know the who, what when where why and how.

When I research an entity I start at the Sec of State web site. All legal entities are required to register in most states. If they have a physical presence you can also go to most tax assessor web sites.

Guidestar.org may have IRS form 990 or 990PF filings available. Corporate listings will provide superficial information, but the form 990 should have more granular detail about the organization, including names of its donors above a certain threshold.