16 USC 583j-5 – Audits and report requirements
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(a) Audits
For purposes of section 10101 of title 36 the Foundation shall be treated as a corporation in part B of subtitle II of title 36.
(b) Annual reports
Terms Used In 16 USC 583j-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The Foundation shall transmit each year to Congress a report of its proceedings and activities of the previous year, including a full and complete statement of its receipts, expenditures, and investments.