§205g Gifts, Donations and Bequests to Board

Summary

Lets the Board take and use gifts of land, other property, and personal services to help its work. Money gifts, and money from selling donated items, must go into the Treasury in a separate fund and can be spent only when the Board orders it. For tax rules, donated property is treated as a gift to the United States. At the Board’s request, the Treasury Secretary may invest that fund in U.S. government securities, and earnings are paid out on the Board’s order. If the Board stops existing, any unspent money returns to the Treasury as of that date under section 205d(d).