105 ILCS 5/30-15.25
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 30 - Scholarships

 (from Ch. 122, par. 30-15.25)Sec. 30-15.25.         (a) As used in this Section, the term "public institution  of higher education" includes: the University of Illinois; Southern  Illinois University;  Chicago State University; Eastern Illinois University; Governors State  University; Illinois State University; Northeastern Illinois University;  Northern Illinois University; Western Illinois University; the public community  colleges of the State; and any other public  universities, colleges and community colleges now or hereafter established  or authorized by the General Assembly.  The term "nonpublic institution of  higher education" includes any educational organization in this State,  other than a public institution of higher education, which provides a  minimum of an organized 2 year program at the private junior college level  or higher and which operates not-for-profit and in conformity with  standards substantially equivalent to those of public institutions of  higher education.(b) Each public institution of higher education shall disclose  the terms, restrictions and requirements attached to or made a part of any  endowment, gift, grant, contract award or property of any kind or value  in excess of $100,000 made to such institution, or to any school, college,  division, branch or other organizational entity within or forming a part  of such institution, by a foreign government or an individual who is  neither a citizen nor a resident of the United States, in any calendar or  fiscal year.  If the foreign government or individual donates more than one  gift in any calendar or fiscal year, and the total value of those gifts  exceeds $100,000, such institution shall report all the gifts received.  This subsection shall not apply to funds that public institutions of higher  education receive from grants and contracts through either the federal  government or the State of Illinois.(c) The provisions of this subsection apply to each nonpublic  institution of higher education: (i) which receives any grant or award  under the Illinois Financial Assistance Act for Nonpublic Institutions of  Higher Learning or under the Higher Education Cooperation Act, or (ii)  which is a participant in a program of interinstitutional cooperation  administered by a not-for-profit organization that is organized to  administer such program under the Higher Education Cooperation Act and that  receives any grant under and in furtherance of the purposes of that Act, or  (iii) which receives any grant or distribution of grant moneys appropriated  from the State Treasury or any fund therein to such institution or to the  Board of Higher Education for distribution to nonpublic institutions of  higher education for purposes of Section 4 of the Build Illinois Bond Act  or for any other purpose authorized by law.  Each nonpublic institution of  higher education to which the provisions of this subsection apply shall  disclose the terms, restrictions and requirements attached to or made a  part of any endowment, gift, grant, contract award or property of any kind  or value in excess of  $250,000 made to such institution, or to any school,  college, division, branch or other organizational entity within or forming  a part of such institution, by a foreign government or an individual who is  neither a citizen nor a resident of the United States, in any calendar or  fiscal year.  If the foreign government or individual donates more than one  gift in any calendar or fiscal year, and the total value of those gifts  exceeds $250,000, such institution shall report all the gifts received.(d) Such information shall be forwarded to the Attorney  General no later than 30 days after the final day of each calendar or fiscal  year of such institution, whichever type of year is used by the institution  in accounting for the gifts received for the purposes of this Section.  The  information shall include:(1) the name of the foreign government in the case of     a gift by a government, or the name of the foreign country of which an individual donor is a citizen, in the case of a gift by an individual;(2) the amount and the date of the contribution or     contributions;(3) when the gift is conditional, matching or     designated for a particular purpose, full details of the conditions, matching provisions or designation; and(4) the purpose or purposes for which the     contribution will be used.Such information shall be a matter of public record.    (Source: P.A. 89-4, eff. 1-1-96.)