; or (ii) the value of which is undetermined; or (B) the institution receives a gift from a foreign country of concern or foreign entity of concern, or, upon receiving a waiver under section 117A to enter into a contract with such a country or entity, enters into such contract, without regard to the value of such gift or contract. (2) Foreign source ownership or control disclosures In the case of an institution that is substantially controlled (as described in section 668.174(c)(3) of title 34, Code of Federal Regulations) (or successor regulations) by a foreign source, the institution shall file a disclosure report in accordance with subsection (b)(2) with the Secretary on July 31 of each year. (3) Treatment of affiliated entities For purposes of this section, any gift to, or contract with, an affiliated entity of an institution shall be considered a gift to or contract with, respectively, such institution. (b) Contents of report (1) Gifts and contracts Each report to the Secretary required under subsection (a)(1) shall contain the following: (A) With respect to a gift received from, or a contract entered into with, any foreign source— (i) the terms of such gift or contract, including— (I) the name of the individual, department, or benefactor at the institution receiving the gift or carrying out the contract; (II) the intended purpose of such gift or contract, as provided to the institution by such foreign source, or if no such purpose is provided by such foreign source, the intended use of such gift or contract, as provided by the institution; and (III) in the case of a restricted or conditional gift or contract, a description of the restrictions or conditions of such gift or contract; (ii) with respect to a gift— (I) the total fair market dollar amount or dollar value of the gift, as of the date of submission of such report; and; (II) the date on which the institution received such gift; (iii) with respect to a contract— (I) the date on which such contract commences