---
kind: "section"
citation: "29 U.S.C. § 1907"
title: "29"
title_heading: "Labor"
number: "1907"
heading: "Helen Keller National Center Federal Endowment Fund"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/29/1907"
units:
  - "Chapter 21 — Helen Keller National Center for Youths and Adults Who Are Deaf-Blind"
---

# §1907. Helen Keller National Center Federal Endowment Fund

- (a) **Establishment—** The [Secretary](/usc/29/1905.md?p=3) and the Board of Directors of the Helen Keller National [Center](/usc/29/1905.md?p=1) are authorized to establish the Helen Keller National [Center](/usc/29/1905.md?p=1) 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](/usc/29/1905.md?p=1). The [Secretary](/usc/29/1905.md?p=3) 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](/usc/29/1905.md?p=3) shall make payments to the Endowment Fund from amounts appropriated pursuant to [subsection (h)](#h), consistent with the provisions of this section.
  - (2) **Amount of payment—** Subject to the availability of appropriations, the [Secretary](/usc/29/1905.md?p=3) 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](/usc/29/1905.md?p=1)).
- (c) **Investments—**
  - (1) **In general—** The [Center](/usc/29/1905.md?p=1), 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](/usc/29/1905.md?p=1) may not assign, hypothecate, encumber, or create a lien on the Endowment Fund corpus without specific written authorization of the [Secretary](/usc/29/1905.md?p=3).
- (d) **Withdrawals and expenditures—**
  - (1) **In general—** For a 20-year period following the receipt of a payment under this section, the [Center](/usc/29/1905.md?p=1) 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](/usc/29/1905.md?p=1) 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](/usc/29/1905.md?p=1) may withdraw or expend the Endowment Fund income for any expenses necessary for the operation of the [Center](/usc/29/1905.md?p=1), 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](/usc/29/1905.md?p=1) 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)](#d-3-B), the [Center](/usc/29/1905.md?p=1) 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](/usc/29/1905.md?p=3) may permit the [Center](/usc/29/1905.md?p=1) to withdraw or expend more than 50 percent of its total aggregate endowment income where the [Center](/usc/29/1905.md?p=1) demonstrates to the [Secretary](/usc/29/1905.md?p=3)’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](/usc/29/1905.md?p=1) shall keep accurate financial records relating to the operation of the Endowment Fund.
  - (2) **Audit and report—**
    - (A) **Audit—** The [Center](/usc/29/1905.md?p=1) shall arrange for the conduct of an annual financial and compliance audit of the Endowment Fund in the manner prescribed by the [Secretary](/usc/29/1905.md?p=3) pursuant to [section 1903(a) of this title](/usc/29/1903.md?p=a).
    - (B) **Report—** The [Center](/usc/29/1905.md?p=1) shall submit a copy of the report on the audit required under [subparagraph (A)](#e-2-A) to the [Secretary](/usc/29/1905.md?p=3) within 15 days after completion of the audit and acceptance of the audit by the [Center](/usc/29/1905.md?p=1).
  - (3) **Annual report—** Not later than 60 days after the end of each fiscal year, the [Center](/usc/29/1905.md?p=1) shall provide to the [Secretary](/usc/29/1905.md?p=3) 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](/usc/29/1905.md?p=3) may require.
- (f) **Recovery of payments—** After notice and an opportunity for a hearing, the [Secretary](/usc/29/1905.md?p=3) is authorized to recover any Federal payments made under this section if the Helen Keller National [Center](/usc/29/1905.md?p=1)—
  - (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](/usc/29/1905.md?p=3) 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](/usc/29/1905.md?p=1) for the purpose of generating income for the support of the [Center](/usc/29/1905.md?p=1).
  - (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.

## Source credit

(Pub. L. 98–221, title II, § 208, as added Pub. L. 102–569, title IX, § 907, Oct. 29, 1992, 106 Stat. 4483; amended Pub. L. 105–220, title IV, § 412(b), Aug. 7, 1998, 112 Stat. 1241.)

## Notes

### Editorial Notes

### Amendments

1998—Subsec. (h). Pub. L. 105–220 substituted “1999 through 2003” for “1993 through 1997”.