38 U.S.C. § 7366: Accountability and oversight

The records of a corporation established under this subchapter shall be available to the Secretary. For the purposes of sections 404(a)(1) and 406(a)(1) of title 5, the programs and operations of such a corporation shall be considered to be programs and operations of the Department with respect to which the Inspector General of the Department has responsibilities under chapter 4 of title 5. Such a corporation shall be considered an agency for the purposes of section 716 of title 31 (relating to availability of information and inspection of records by the Comptroller General). Each corporation shall submit to the Secretary each year a report providing a detailed statement of the operations, activities, and accomplishments of the corporation during that year. A corporation with revenues in excess of $500,000 for any year shall obtain an audit of the corporation for that year. A corporation with annual revenues between $100,000 and $500,000 shall obtain an audit of the corporation at least once every three years. Any audit under this paragraph shall be performed by an independent auditor. The most recent audit of the corporation under paragraph (2). The most recent Internal Revenue Service Form 990 “Return of Organization Exempt from Income Tax” or equivalent and the applicable schedules under such form. Each director, officer, and employee of a corporation established under this subchapter shall be subject to a conflict of interest policy adopted by that corporation. The location of each corporation. the total amount received; the amount received from governmental entities for research and the amount received from governmental entities for education; the amount received from all other sources for research and the amount received from all other sources for education; and if an amount received from a source referred to in subparagraph (C) exceeded $25,000, information that identifies the source. the amount expended for salary for research staff, the amount expended for salary for education staff, and the amount expended for salary for support staff; the amount expended for direct support of research and the amount expended for direct support of education; and if the amount expended with respect to any payee exceeded $50,000, information that identifies the payee. The amount expended by each corporation during the year for travel conducted in conjunction with research and the amount expended for travel in conjunction with education.