In a phone interview with ABC News on Sunday, the group's chairman William Walters said the group has already reached out to the police department, but has not been in contact with Ramos' family.
The Silver Shield Foundation was started by James Fuchs and George Steinbrenner in 1982 to pay for the education expenses of all children and spouses of New York law enforcement and other authorities killed in the line of duty.
"We just want to do good for these people that take care of us," Walters said.
Walters said the foundation plans to set aside funds Monday for both of Ramos' children, and also said money will be made available to both of the officers' spouses for any education related expenses they might take on.
Officer Wenjian Liu, 32, the other officer killed Saturday, was married just two months ago.
Ramos' 13-year-old son Jaden Ramos posted a message on Facebook Saturday evening.
In a news conference Saturday night, Mayor Bill de Blasio said he met with both Jaden and Officer Ramos' wife, and said Jaden "couldn't comprehend what happened to his father."
Ramos and Liu were shot with "no warning, no provocation" shortly before 3 p.m. Saturday as they sat in their patrol car in the Bedford-Stuyvesant neighborhood of Brooklyn by Ismaaiyl Brinsley, NYPD Commissioner William Bratton said.