N.Y. Educ. Law § 1005
The department is authorized to receive, accept and use gifts and donations for the purpose of this article which may be offered, conditionally or unconditionally, notwithstanding section eleven of the state finance law or any other provision of law. All money received as gifts or donations shall be paid to the commissioner of taxation and finance, who together with the state comptroller is hereby constituted and appointed the joint custodian thereof and shall constitute a special fund to be used under the direction of the department for the purpose of this article. A full report of all such gifts and donations, together with the names of the donors, the amounts contributed by each and all disbursements therefrom shall be submitted annually to the legislature as part of the report of the department.
N.Y. Educ. Law § 1005