§5421 National Fund for Excellence in American Indian Education

Summary

Create a foundation called the National Fund for Excellence in American Indian Education. The Secretary of the Interior must set it up under District of Columbia law as soon as possible after December 27, 2000. The foundation will be a nonprofit, charitable corporation (not a U.S. agency) based in Washington, D.C., and it will continue indefinitely unless the law says otherwise. Its job is to accept and manage private gifts and property to support the Office of Indian Education Programs, to help improve schooling for American Indian students at Bureau-funded schools, and to work with federal, state, and tribal partners on those goals. A board of directors will run the foundation. The board must have at least 11 members; the Secretary of the Interior and the Assistant Secretary for Indian Affairs are board members who do not vote. Board members must be U.S. citizens with knowledge of American Indian education. Board members are unpaid but can be reimbursed for travel. The board picks a secretary from its members to run day-to-day work and can set other officers and rules in its bylaws. The foundation can make contracts, hold property, sue or be sued, and do other acts needed to meet its purposes. Its main office is in D.C., but it may operate across the United States. The foundation is responsible for acts of its officers; board members are personally liable only for gross negligence. Starting the fiscal year after its first full year of operation, administrative costs may not exceed 10 percent of (1) amounts transferred under subsection (m) in the prior year and (2) private donations in the prior year. The Secretary may transfer funds held under section 5341 to the foundation if allowed by donor terms. The foundation must follow the audit rules in section 10101 of title 36.