Title 20, EducationRelease 119-73not60

§130aa–1 Program Authorized

Title 20 › Chapter 8— HOWARD UNIVERSITY › Subchapter II— ENDOWMENT › § 130aa–1

Last updated Apr 5, 2026|Official source

Summary

Allows the Secretary to set up a program to create or grow endowment funds, encourage fundraising, and help Howard University become more independent. The Secretary can give grants to Howard University from money set aside for these endowments and can make agreements with the University to run the program. Howard can get a grant only if it puts into the new endowment fund the same amount as the grant and shows it will manage the fund properly. The matching money cannot be federal or come from an existing endowment. Grants may last up to twenty years. During that time the University may not spend the endowment principal. After the grant ends, the University may use the principal and any earnings for any educational purpose.

Full Legal Text

Title 20, §130aa–1

Education, Source: USLM XML via OLRC

(a)The Secretary is authorized to establish an endowment program, in accordance with the provisions of this subchapter, for the purpose of establishing or increasing endowment funds, providing additional incentives to promote fundraising activities, and encouraging independence and self-sufficiency at the University.

(b)(1)From the funds appropriated pursuant to this subchapter for endowments in any fiscal year for the University, the Secretary is authorized to make grants to Howard University. The Secretary may enter into agreements with the University and include in any agreement made pursuant to this subchapter such provisions deemed necessary by the Secretary to assure that the purposes of this subchapter will be achieved.

(2)The University may receive a grant under this section only if it has deposited in the endowment fund established under this subchapter an amount equal to such grant and has adequately assured the Secretary that it will administer the endowment fund in accordance with the requirements of this subchapter. The source of funds for this institutional match shall not include Federal funds or funds derived from an existing endowment fund.

(3)The period of any grant under this section shall not exceed twenty years, and during such period the University shall not withdraw or expend any of its endowment fund corpus. Upon the expiration of any grant period, the University may use the endowment fund corpus plus any endowment fund income for any educational purpose.

Reference

Citations & Metadata

Citation

20 U.S.C. § 130aa–1

Title 20, Education

Last Updated

Apr 5, 2026

Release point: 119-73not60