Clarion Project has discovered another $3.2 billion in foreign financing of U.S. universities and colleges that the schools failed to originally disclose as required by law.
The Education Department is in the midst of an investigation into the foreign financing, which a Senate investigatory report described as a “black hole.”
The discovery comes as the Clarion Project is set to release its new documentary, Covert Cash, about the foreign financing and influencing of U.S. schools.
In September 2019, Clarion Project published a groundbreaking study that found that over $10 billion had flowed from foreign countries to U.S. universities and colleges since 2012, about one-third of which came from hostile countries known for their influence operations and anti-American propaganda.
Then, in April 2020, Clarion Project reviewed foreign financing disclosures and found approximately $1 billion in reporting discrepancies, i.e. monies that were originally undisclosed.
Institutions of higher learning are required to declare any foreign donations or contracts worth $250,000 or more to the Education Department twice per year.
However, many institutions simply did not follow the law. The recent disclosures were prompted by federal investigations. Accordingly, schools began publicly disclosing these previously unreported funds (which range from funds received in early 2013 to late 2018).