Jett died last month at age 16, reportedly of a seizure, while on vacation with his family in the Bahamas.
"The foundation shall endeavor to use its resources specifically to assist and provide relief to children with vision, hearing, mobility, communication, behavior learning impairment or other special medical, environmental, health or educational needs," said a message posted on Travolta's official Web site. "It may also use its resources and make grants to educate the public about the need for a clean environment, provide relief and assistance to children who are victims of natural or man-made disasters and to fund children's education programs."
Notable deaths of 2014 [PHOTOS]
Amber Rose declares her love for Wiz Khalifa