1. Short title This Act may be cited as the Endowment Transparency Act . 2. Reporting on assets of institutions of higher education (a) Consumer information (1) Asset reporting Section 132(i) of the Higher Education Act of 1965 ( 20 U.S.C. 1015a(i)(1) ) is amended— (A) by redesignating paragraphs (2) through (6) as paragraphs (3) through (7); and (B) by adding after paragraph (1) the following: (2) Assets (A) In General Not later than one year after the date of enactment of the Endowment Transparency Act , the Secretary shall make publicly available on the College Navigator website, in simple and understandable terms, the following information about each institution of higher education that participates in programs under title IV, for the most recent academic year for which satisfactory data are available: (i) The total assets of the institution that are managed— (I) by an investment adviser, disaggregated by asset class; and (II) by a minority- or women-owned investment adviser, disaggregated by asset class and race of the investment adviser. (ii) With respect to investment advisers employed by the institution, the number of those investment advisers, disaggregated by gender and race. (iii) The percent of bond issuances by the institution that are underwritten by minority- or women-owned asset management firms. (B) Definitions In this paragraph— (i) the term investment adviser has the meaning given the term in section 202(a) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a) ); (ii) the term minority has the meaning given the term under section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1463 note); and (iii) the term minority- or women-owned , when used with respect to an investment adviser or an asset management firm, means an investment adviser or an asset management firm that— (I) is owned more than 50 percent by 1 or more individuals who are women or minorities