The Department of Education announced today the new online portal for schools to report foreign gifts and contracts valued at more than $250,000 as required by law. The reporting portal can be accessed here.
On the new online portal, institutions will need to provide more information about their foreign financial ties than before.
“Colleges and universities owe it to all of us to be transparent about their foreign financial ties,” said Secretary DeVos.
The Department of Education’s Office of the General Counsel has been involved in ongoing investigations into ten American institutions of higher education to verify if they are reporting correctly and has uncovered numerous contracts with Chinese Communist Party-subsidized companies.
The electronic announcement of the new reporting portal is available here. It states that “since July 2019, American institutions have reported $6.5 billion in previously undisclosed foreign gifts and contracts and institutions have anonymized the identities of the donors of at least $1.14 billion in funds from China, Saudi Arabia, Qatar, and Russia”.