Study community foundation briefly with a sense of humour that's off the cuff

'a sense of humour that's off the cuff' is the definition.
I know nothing about this answer so I cannot judge whether it can be defined by this definition.

'study community foundation briefly with' is the wordplay.
'study' becomes 'read' ('read' can be a synonym of 'study').
'community foundation' becomes 'y' (I can't justify this - if you can you should give a lot more credence to this answer).
'briefly' means to remove the last letter.
'with' with its final letter taken off is 'wit'.
'read'+'y'+'wit'='READY WIT'

Can you help me to learn more?