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This research explores the patterns, implications, and transparency challenges surrounding foreign gifts and contracts to US colleges and universities. Amid intensified scrutiny of institutions of higher education under the Trump administration, this study investigates a regulatory space where public interest is growing and further political and legislative action appear inevitable. To better understand the connections between foreign entities and US postsecondary institutions, we examine how colleges and universities have reported foreign gifts and contracts to the federal government, whether institutional characteristics correlate with reported funding, and what government-mandated disclosures do—and do not—reveal. While findings indicate a need for more effective and efficient reporting systems and oversight, future regulatory actions must be careful not to discourage future investments in US institutions.