(B) 
CONTENTS.—The 
report 
required 
under subparagraph (A) shall include a com-
prehensive and detailed report of the Founda-
tion’s operations, activities, financial condition, 
and accomplishments under this Act and may 
include such recommendations as the Founda-
tion deems appropriate. The report should also 
include any information regarding allegations or 
reports on the misuse of funds and how such al-
legations or reports were addressed by the 
Foundation. 
(2) TESTIMONY
RELATING
TO
REPORT.—The 
Board members and officers of the Foundation shall 
be available to testify before appropriate committees 
of the Congress with respect to the report required 
under paragraph (1), the report of any audit made 
by the Comptroller General of the United States 
pursuant to subsection (f) of this section, or any 
other matter which any such committees may deter-
mine. 
(i) GRANTEE; CONFLICT OF INTEREST.—A member 
of the Board of Directors of the Foundation who serves 
as a member of the board of directors or an officer of 
a grantee of the Foundation may not receive compensation 
for their services but shall be entitled to reimbursement
for travel and other expenses incurred by them in connec-
tion with their duties on behalf of such grantee. 
SEC. 5. AGREEMENT BETWEEN FOUNDATION AND SUC-
CESSOR OR RELATED ENTITY TO THE U.S. 
RUSSIA INVESTMENT FUND. 
(a) AGREEMENT REQUIRED.—The Foundation and 
any successor or related entity to the U.S. Russia Invest-
ment Fund shall enter into a memorandum of under-
standing for the purpose of coordinating activities carried 
out by the Foundation and the successor or related entity. 
The memorandum of understanding shall include language 
that prohibits the same entities from carrying out the 
same activities. 
(b) DEADLINE.—The memorandum of understanding 
described in subsection (a) shall be entered into between 
the Foundation and the successor or related entity de-
scribed in subsection (a) by not later than the later of 
the following: 
(1) If the successor or related entity is estab-
lished on or before the date of the enactment of this 
Act, 90 days after the date of the enactment of this 
Act. 
(2) If the successor or related entity is estab-
lished after the date of the enactment of this Act,
90 days after the date on which the entity is estab-
lished. 
(c) SUBMISSION TO SECRETARY OF STATE AND CON-
GRESS.—The Foundation and the successor or related en-
tity described in subsection (a) shall submit to the Sec-
retary of State and Congress a copy of the memorandum 
of understanding described in subsection (a) not later than 
30 days after the date on which the parties enter into the 
memorandum of understanding. 
(d) LIMITATIONS.—For the period beginning on the 
date on which the successor or related entity described in 
subsection (a) is established, or the date of the enactment 
of this Act, whichever occurs later, and ending on the date 
on which the memorandum of understanding described in 
subsection (a) is entered into— 
(1) United States assistance may not be pro-
vided to the Foundation under any other provision 
of law; and 
(2) funds may not be transferred from the U.S. 
Russia Investment Fund to the successor or related 
entity or placed in a trust on behalf of the successor 
or related entity.
(e) SUCCESSOR OR RELATED ENTITY TO THE U.S. 
RUSSIA INVESTMENT FUND DEFINED.—In this section, 
the term ‘‘successor or related entity to the U.S. Russia