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Scope

The policy covers Gift and Contract processes and related reporting requirements for Foreign Source revenue transactions conducted on behalf of the ŷ���ڱ���Ƶ of Missouri.

Reason for Policy

Section 117 of the Higher Education Act of 1965, as amended (“HEA”) (hereinafter, “Section 117”) requires the ŷ���ڱ���Ƶ of Missouri to report to the U.S. Department of Education Gifts received from any Foreign Source, Contracts with a Foreign Source, and any ownership interest in, or control over the institution by a Foreign Source over an aggregate amount as defined by the statute each calendar year. 

Policy Statement

The ŷ���ڱ���Ƶ ŷ���ڱ���Ƶ will comply with all material aspects of Section 117.  Each Campus will aggregate and report required amounts separately. Each Campus will designate a reporting lead, by position, to be responsible for completing the reporting at their institution.  The reporting lead will oversee and submit the report as required by Section 117 and ensure that all threshold reporting is met across different units.  

The UM ŷ���ڱ���Ƶ Office of Compliance will maintain a list of the responsible parties and ensure that controls are in place to accurately report required Foreign Source income covered under Section 117.  The Office of Compliance will meet with the reporting leads annually to review controls and processes and any updates to the compliance requirements.

Definitions

As defined by Section 117. For more specific ŷ���ڱ���Ƶ ŷ���ڱ���Ƶ policies and definitions please see related information below.

Contract - Any agreement for the acquisition by purchase, lease, or barter of property or services by the Foreign Source, for the direct benefit or use of either of the parties.

Foreign source - 

• A foreign government, including an agency of a foreign government.
• A legal entity, governmental or otherwise, created solely under the laws of a foreign state or states. 
• An individual who is not a citizen or a national of the United States or a trust territory or protectorate thereof.
• An agent, including a subsidiary or affiliate of a foreign legal entity, acting on behalf of a foreign source.

Gift - any Gift of money or property

Restricted or conditional gift or contract - any endowment, Gift, grant, contract, award, present, or property of any kind which includes provisions regarding:

• The employment, assignment, or termination of faculty.
• The establishment of departments, centers, research or lecture programs, or new faculty positions. 
• The selection or admission of students.
• The award of grants, loans, scholarships, fellowships, or other financial aid restricted to students of a specified country, religion, sex, ethnic origin, or political opinion.

Accountabilities

Chief Financial Officer:

• Responsible for naming the Reporting Lead and ensuring timely submission of Section 117 Report.

Office of Compliance: 

• Responsible for oversight of the foreign reporting process.
• Works with accountable parties to ensure that adequate controls exist.
• Works with the Reporting Leads on any updates to compliance requirements.

Reporting Lead: 

• Established by position, the Reporting Lead is responsible for the identification of responsible parties and the aggregation and proper reporting of all Foreign Source income covered under Section 117.  
   

Additional Details

Forms

Related Information

UM Policy 2205 – Gift and Gift Pledges

UM Policy 22300 – Sanctions and Restricted Parties

Research Security and Compliance

History

Procedure