10 U.S.C. § 8551: Development and operation of the Naval Innovation Center at the Naval Postgraduate School

to be known as the “Naval Innovation Center” (in this section referred to as the “NIC”); and to be located at the United States Naval Postgraduate School. to convene interested persons to develop and accelerate the adoption of new and innovative technologies and practices for the benefit of the Department of Defense; and to support such education, training, research, and associated activities, as determined by the Secretary, in support of the Naval Postgraduate School and the Department of Defense. accept funds from a partner organization for any phase of development of the NIC; and accept funds, personal property, or services from a covered entity that is not a partner organization for maintenance of the NIC. The Secretary of the Navy may accept, hold, administer, and spend any gift, device, or bequest of real property, personal property, services, or money on the condition that the gift, device, or bequest be used for the benefit, or in connection with, the establishment, operation, or maintenance of the NIC. Section 2601 of this title (other than subsections (b), (c), and (e) of such section) shall apply to gifts accepted under this subsection. The Secretary may display at the NIC recognition for an individual or entity that contributes money to a partner organization or for a corporate partner that contributes money directly to the Navy for the benefit of the NIC, whether or not the contribution is subject to the condition that the recognition be provided. The Secretary shall prescribe regulations governing the circumstances under which contributor recognition may be provided, appropriate forms of recognition, and suitable display standards. The Secretary may authorize the sale of donated property received under paragraph (1). A sale under this paragraph need not be conducted in accordance with disposal requirements that would otherwise apply, so long as the sale is conducted at arms-length and includes an auditable transaction record. Any money received under paragraph (1) and any proceeds from the sale of property under paragraph (3) shall be deposited into a fund established in the Treasury to support the NIC. The Secretary of the Navy may require such additional terms and conditions in connection with a contract or other agreement described in subsection (a) as the Secretary considers appropriate to protect the interests of the United States. an entity incorporated or operating under the laws of any State; or a nonprofit organization. is described in section 501(c)(3) of the Internal Revenue Code of 1986 and that is exempt from taxation under section 501(a) of such Code; and has as its primary purpose the support and operation of the Naval Postgraduate School. The term “partner organization” means an eligible nonprofit organization with which the Secretary of the Navy enters into a contract or other agreement under subsection (a).