It actually works even better for foreign nationals because there is no such thing as a modified endowment contract.

The reference to April 1992 is presumably the date the law took effect, and it says simply that any recorded instrument (lien, mortgage, judgement) that was recorded before April 1992 will not be endowed with the benefits of the law, or subject to the law (so in other words, security interests recorded before that date will be subject to the law as it was beforehand).

Look at their budget vs. endowment, their spending on administration vs facualty, are they over building facilities?

That "difference" will grow and compound and will ultimately equal the death benefit at the endowment age.The problem with your "difference" is that it remains in a tax hostile environment AND you have to withdraw it to access it.

Sure without money you can donate time, but I will argue that a large monetary endowment does way more than filling soup bowls an hour a week.