failed to meet the requirements of section 2, the Secretary shall determine the appropriate enforcement action to take with respect to such institution, which may include any of the following: (1) Imposing a probationary period on, or limiting eligibility for, the institution, department, affiliate, or professors in violation of this Act to receive Federal funds. (2) Loss of nonprofit status for a nonprofit institution, department, or affiliate. 4. Disclosures of foreign gifts (a) In general Section 117 of the Higher Education Act of 1965 ( 20 U.S.C. 1011f ) is amended— (1) by amending subsection (a) to read as follows: (a) Disclosure report An institution shall file a disclosure report with the Secretary on January 31 or July 31, whichever is sooner, whenever one or more of the following paragraphs applies to such institution: (1) The institution is owned or controlled by a foreign source. (2) The institution receives a gift from or enters into a contract with a foreign source, the value of which is $50,000 or more, considered in combination with all other gifts from or contracts with that foreign source within a calendar year.