29 U.S.C. § 1907 : US Code - Section 1907: Helen Keller National Center Federal Endowment Fund

    (a) Establishment
      The Secretary and the Board of Directors of the Helen Keller
    National Center are authorized to establish the Helen Keller
    National Center Federal Endowment Fund (hereafter in this section
    referred to as the "Endowment Fund") in accordance with the
    provisions of this section, to promote the financial independence
    of the Helen Keller National Center. The Secretary and the Board
    may enter into such agreements as may be necessary to carry out the
    purposes of this section.
    (b) Federal payments
      (1) In general
        The Secretary shall make payments to the Endowment Fund from
      amounts appropriated pursuant to subsection (h) of this section,
      consistent with the provisions of this section.
      (2) Amount of payment
        Subject to the availability of appropriations, the Secretary
      shall make payments to the Endowment Fund in amounts equal to
      sums contributed to the Endowment Fund from non-Federal sources
      (excluding transfers from other endowment funds of the Center).
    (c) Investments
      (1) In general
        The Center, in investing the Endowment Fund corpus and income,
      shall exercise the judgment and care, under the prevailing
      circumstances, which a person of prudence, discretion, and
      intelligence would exercise in the management of that person's
      own business affairs.
      (2) Limitations
        (A) Federally insured investments and other investments
          The Endowment Fund corpus and income shall be invested in
        federally insured bank savings accounts or comparable interest
        bearing accounts, certificates of deposit, money market funds,
        mutual funds, obligations of the United States, or other low-
        risk instruments and securities in which a regulated insurance
        company may invest under the laws of the State of New York.
        (B) Real estate
          The Endowment Fund corpus and income may not be invested in
        real estate.
        (C) Conflict of interest
          The Endowment Fund corpus or income may not be invested in
        instruments or securities issued by an organization in which an
        executive officer is a controlling shareholder, director, or
        owner within the meaning of Federal securities laws and other
        applicable laws.
        (D) Encumbrances
          The Center may not assign, hypothecate, encumber, or create a
        lien on the Endowment Fund corpus without specific written
        authorization of the Secretary.
    (d) Withdrawals and expenditures
      (1) In general
        For a 20-year period following the receipt of a payment under
      this section, the Center shall not withdraw or expend the Federal
      payment or matching contribution made to the Endowment Fund
      corpus. On the expiration of such period, the Center may use the
      Endowment Fund corpus plus any of the Endowment Fund income for
      any purpose that benefits individuals who are deaf-blind.
      (2) Operational and commercial expenses
        (A) In general
          The Helen Keller National Center may withdraw or expend the
        Endowment Fund income for any expenses necessary for the
        operation of the Center, including expenses of operations and
        maintenance, administration, academic and support personnel,
        construction and renovation, community and client services
        programs, technical assistance, and research.
        (B) Limitation
          The Center may not withdraw or expend the Endowment Fund
        income for any commercial purpose.
      (3) Limitations and waiver of limitations
        (A) In general
          Except as provided in subparagraph (B), the Center shall not
        withdraw or expend more than 50 percent of the total aggregate
        Endowment Fund income earned prior to the time of withdrawal or
        expenditure.
        (B) Exception
          The Secretary may permit the Center to withdraw or expend
        more than 50 percent of its total aggregate endowment income
        where the Center demonstrates to the Secretary's satisfaction
        that such withdrawal or expenditure is necessary because of - 
            (i) a financial emergency, such as a pending insolvency or
          temporary liquidity problem;
            (ii) a life-threatening situation occasioned by a natural
          disaster or arson; or
            (iii) another unusual occurrence or exigent circumstance.
    (e) Reporting requirements
      (1) Financial records
        The Helen Keller National Center shall keep accurate financial
      records relating to the operation of the Endowment Fund.
      (2) Audit and report
        (A) Audit
          The Center shall arrange for the conduct of an annual
        financial and compliance audit of the Endowment Fund in the
        manner prescribed by the Secretary pursuant to section 1903(a)
        of this title.
        (B) Report
          The Center shall submit a copy of the report on the audit
        required under subparagraph (A) to the Secretary within 15 days
        after completion of the audit and acceptance of the audit by
        the Center.
      (3) Annual report
        Not later than 60 days after the end of each fiscal year, the
      Center shall provide to the Secretary an annual report on the
      uses of funds provided by the Federal endowment program
      authorized under this section. Such report shall contain such
      information, and be in such form as the Secretary may require.
    (f) Recovery of payments
      After notice and an opportunity for a hearing, the Secretary is
    authorized to recover any Federal payments made under this section
    if the Helen Keller National Center - 
        (1) makes a withdrawal or expenditure from the Endowment Fund
      corpus or income which is not consistent with the provisions of
      this section;
        (2) fails to comply with the investment standards and
      limitations under this section; or
        (3) fails to account properly to the Secretary concerning the
      investment of or expenditures from the Endowment Fund corpus or
      income.
    (g) Definitions
      For the purposes of this section:
      (1) Endowment fund
        The term "endowment fund" means a fund, or a tax-exempt
      foundation, established and maintained by the Helen Keller
      National Center for the purpose of generating income for the
      support of the Center.
      (2) Endowment Fund corpus
        The term "Endowment Fund corpus" means an amount equal to the
      Federal payments made to the Endowment Fund and amounts
      contributed to the Endowment Fund from non-Federal sources.
      (3) Endowment Fund income
        The term "Endowment Fund income" means an amount equal to the
      total market value of the Endowment Fund minus the Endowment Fund
      corpus.
    (h) Authorization of appropriations
      There are authorized to be appropriated to carry out this
    section, such sums as may be necessary for each of the fiscal years
    1999 through 2003. Such sums shall remain available until expended.