; or (B) the interests of any corporation, partnership, entity, or organization in which such Director, officer, employee, or an immediate family member of such Director, officer, or employee— (i) is an officer, director, or trustee; or (ii) has any direct financial interest. (3) Limitation on administrative expenditure Starting in the fifth fiscal year beginning after the date of the enactment of this Act, of the amounts available to the Foundation for expenditure each fiscal year, not more than 15 percent may be used for administrative expenses. 5. Powers and obligations (a) In general The Foundation— (1) shall have perpetual succession; and (2) may conduct business throughout the several States, territories, and possessions of the United States. (b) Notice and service of process The Foundation shall at all times maintain a designated agent in the District of Columbia authorized to accept service of process for the Foundation. The serving of notice to, or service of process upon, the agent required under this subsection, or mailed to the business address of such agent, shall be treated as service upon or notice to the Foundation. (c) Seal The Foundation shall have an official seal selected by the Board, which shall be judicially noticed. (d) Powers In addition to powers otherwise authorized under this Act, to carry out its purposes the Foundation shall have the usual powers of a not-for-profit corporation in the District of Columbia, including the power to— (1) accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, of real or personal property or any income therefrom or other interest therein; (2) acquire by donation, gift, devise, purchase, or exchange, and dispose of, any real or personal property or interest therein; (3) sell, donate, lease, invest, reinvest, retain, or otherwise dispose of any property or income therefrom unless limited by the instrument of transfer