The major source of information about foreign influence in higher education, the Section 117 database of foreign gifts, is poorly maintained and woefully incomplete. This report details the underreporting of foreign gifts to universities by analyzing a complementary database compiled using public records requests. The National Association of Scholars (NAS) foreign funds database reports gifts whose value are below the federal reporting threshold of $250,000, donor names, and the purpose of the gifts for most items--information that is missing for the vast majority of funds in the Section 117 database. The NAS database provides journalists, policymakers, and other interested members of the public greater transparency about foreign funds to American universities and serves as a model for lawmakers for what an improved version of the Section 117 database ought to look like. Broad findings about foreign funds reporting that emerge from carefully comparing certain portions of data from the two databases are also discussed, and recommendations are provided for policymakers to improve foreign funds transparency in higher education.