15 U.S. Code § 504 - Powers of Foundation
Powers of FoundationThe corporation—
May acquire by purchase, devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of, such real and personal property as may be necessary or appropriate for its corporate purposes;
Generally, may do any and all lawful acts necessary or appropriate to carry out the purposes for which the corporation is created.
(June 10, 1930, ch. 440, § 4, 46 Stat. 540.)