Trump to dissolve foundation before inauguration
ASSOCIATED PRESS
President-elect Donald Trump says he will dissolve the Donald J. Trump Foundation amid efforts to eliminate any conflicts of interest before he takes office next month.
ASSOCIATED PRESS
President-elect Donald Trump takes a question from a member of the media at Mar-a-Lago, in Palm Beach, Fla., Wednesday, Dec. 21, 2016. Trump on Thursday abruptly called for the United States to “greatly strengthen and expand its nuclear capability” until the rest of the world “comes to its senses” regarding nuclear weapons. Trump made the statement on Twitter and did not expand on either the actions he wants the U.S. to take or the issues he sees around the world.
WEST PALM BEACH, Fla. >> President-elect Donald Trump said Saturday he will dissolve his charitable foundation amid efforts to eliminate any conflicts of interest before he takes office next month.
The revelation comes as the New York attorney general’s office investigates the foundation following media reports that foundation spending went to benefit Trump’s campaign.
Trump said in a statement that he has directed his counsel to take the necessary steps to implement the dissolution of the Donald J. Trump Foundation, saying that it operated “at essentially no cost for decades, with 100 percent of the money going to charity.”
“The foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,” he said in a statement.
“I will be devoting so much time and energy to the presidency and solving the many problems facing our country and the world. I don’t want to allow good work to be associated with a possible conflict of interest,” he said.
Trump said he will pursue philanthropic efforts in other ways, bu didn’t elaborated on how he’d do so.
A 2015 tax return posted on the nonprofit monitoring website GuideStar shows the Donald J. Trump Foundation acknowledged that it used money or assets in violation of IRS regulations — not only during 2015, but in prior years.
Those regulations prohibit self-dealing by the charity. That’s broadly defined as using its money or assets to benefit Trump, his family, his companies or substantial contributors to the foundation.
The tax filing doesn’t provide details on the violations. Whether Trump benefited from the foundation’s spending has been the subject of an investigation by New York Attorney General Eric Schneiderman.
In September, Schneiderman disclosed that his office has been investigating Trump’s charity to determine whether it has abided by state laws governing nonprofits.
Documents obtained by The Associated Press in September showed Schneiderman’s scrutiny of The Donald J. Trump Foundation dated back to at least June, when his office formally questioned the donation made by the charity to a group supporting Florida Attorney General Pam Bondi.
Amy Spitalnick, press secretary for Schneiderman’s office, said Saturday that the foundation “cannot legally dissolve” until the investigation is complete.
Trump’s announcement to dissolve his own foundation came a day after the president-elect took to Twitter to declare it a “ridiculous shame” that his son Eric will have to stop soliciting funds for his charitable foundation, the Eric Trump Foundation, because of a conflict of interest.
“My wonderful son, Eric, will no longer be allowed to raise money for children with cancer because of a possible conflict of interest with my presidency,” Trump tweeted. “He loves these kids, has raised millions of dollars for them, and now must stop. Wrong answer!”
Trump was in his South Florida estate, Mar-a-Lago, on Saturday, his retreat for most holidays. He spent the week meeting advisers and interviewing candidates for a handful of Cabinet positions that remain unfilled.
60 responses to “Trump to dissolve foundation before inauguration”
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Nice photo…ew
Thousands of conflicts folks. This will be the quagmire I talked about and he’s not even Potus. Many a many $$$conflict $$$. Lol,…a quagmire is considered a SWAMP.
The Donald promised to drain the swamp. What he didn’t mention were his plans to expand it ten times and fill it with slime and scum.
The reality is that his foudnation was largely a scam. As the artyicle points, out it did little funding of actual projects other than serving the ego of one D. Trump. If his foundation had been located here, the AG would ahve shut it down in shame.
So basically Donald Trump did the same thing that Hillary Clinton did, on a smaller scale. At least Trump wasn’t a sitting politician when he did it. Where is your criticism for Hillary? Last I checked, the Clinton Foundation was still operating.
What are you talking about? There is absolutely no comparison between the foundations. While the clinton foundation has done a lot of charitable work around the globe, trump’s foundation has done very little for anyone other than his family. This is why his foundation is under investigation. With his dishonesty, trump’s attorneys will be very busy.
Has the Clinton Foundation done anything wrong?
The Donald is dissolving his foundation because it is under investigation for possibly diverting funds. If he dissolves it the will be justification to destroy records or the evidence will just simply disappear. He and his PR people will just spin the story and not retain any damaging documents.
He is trying to shut down this scam before the NY investigation is concluded. He knows if what he did with tax-exempt charitable money is exposed to those who were duped by this clown he would be weakened
Your Comment has been sent for Moderation?
Does that mean the Clinton Foundation will also dissolve it’s “Charitable Foundation”? Will they follow President Elect Trump’s lead?
Hey? Have you heard many of Hillary Clinton’s donors are furious with Hillary Clinton’s Lost? Could they get a……..Refund? Haaaaaaaaaaaaaaaa!
Trump’s foundation committed fraud by using hundred of thousands of dollars to settle legal cases and benefit family and others. Report says 100% of his foundation went to charity. I guess Trump and his family are charitable cases. Only Fox News, you and others think Clinton foundation is fraudulent. This is to pull attention away from fraudulent Trump Foundation.
Most family charitable Foundations put their family members as employees and pay them handsome salaries to by-pass paying inheritance taxes and or provide gainful employment. Trump family members differ in that they are officers of going concerns. Though the same objectives are obtained, avoid taxes.
The Trump Foundation was different. First, he illegally solicited money from the public without being authorized to do so. Then he used charitable funds provided by others to purchase ridiculous gifts for himself to feed his malignant narcissism – like more than one gigantic portrait of himself.
Trump is a psychotic.
Lying and crying crickets. Give it up already. You lost. President Trump is doing just great. All is good. Merry Christmas.
Sorry Sarge, it is way too early to say the Donald is doing great. I will say the Donald is doing fine if after a year the stock market is up to 23000, Unemployment remains at under 5% and the deficit has continued to come down. Time will tell if this happens or if the market plunges, unemployment rises and the deficit rises.
Foundations are allowed to pay a reasonable compensation. Otherwise, it can result in violations of the Internal Revenue Code, which include issues such as private benefit and self-dealing.
Klastri is correct, the Trump foundation actually did admit to violations of the laws, but only after the abuses were disclosed by the media.
And in regards to the Clinton Foundation, some still incorrectly represent that ninety percent or more of the donations were not paid out for charitable causes.
Why is this important? Simply because it’s common sense. On the other hand, maybe some people don’t really care much about these issues. Some just want jobs, reassurances about economic security.
Some just want to keep reassuring themselves that they won, and that you lost.
In regards to Klastri’s comment, the more significant issue was that the Trump foundation spent more than a quarter-million dollars to settle lawsuits that involved his for-profit businesses.
MoiLee – No. The Clinton Foundation actually accomplishes things, unlike the Trump Foundation, which appears to be a complete fraud. Second, Mrs. Clinton is not going to be President.
I’m a donor, and I’m not furious with Mrs. Clinton. I am, however, disappointed that so many gullible and ignorant people voted for Mr. Trump.
You know so little, that I figured I’d clue you in a bit. Learn something today – anything would help you at this point.
Donor..hey me too WOW!
I am not furious with Hillary but I am disappointed. Shame she tried to stack the deck in the beginning forgetting that leading democrats is like herding cats. So now we probably will have 4 years of Voodoo on steroids. Wonder what republicans will say if the deficit rises to over a Trillion again? Oh, I know, its ok if you are republican. Love their hypocrisy.
Watch the trumpf’$ try to call it The ME FIRST FAMILY. All the adult children and spouses will be trying to profit off this circus.
Too bad for the charities who receives much needed funding. Also include Eric Trump’s Charity Foundation will be ceased as well.
Sad for the charities.
January 20, 2017 #MAGA Can’t come soon enough.
We’re going to be going to Mass before long and I really need to be contrite. I’ve responded to you in a mean and small-minded manner this year. I regret it and I will try to be more open minded next year. I wish you and yours a wonderful Christmas.
“MERRY CHRISTMAS” to you Cellodad & your loved ones.
No offense taken and I see you have a big heart…your Family are the fortunate ones.
Have a safe Holiday Season if we don’t get into a Tug-of-War before next year (ha ha).
Enjoyed your Christmas Tree..mahalo for sharing 🙂
Nothing prevents Eric Trump from writing checks to St. Jude’s with his own money. But that’s not how the Trumps do business. They only take credit for the donations of other people. Just like his father.
Eric Trump can donate directly whatever he wants without creating any conflicts. You can forget any thought of him actually doing that, of course.
KKKlastri…you not getting any presents this year…or have not gotten any from years past…is that why you’re so sour?
Hey you’re so rich why don’t you do a Secret Santa for you yourself & the big rabbit…then you’ll be a group of 6…WOW WIE! & to get some respect why don’t you give to St. Jude too..Marlo’s hubby is an extreme left zealot too just like you.
Btw…how was your Nov 8 hiLIARy Victory Party? The one you boasted you had planned? Did anyone show up besides you yourself & the big rabbit?
Are you really thirteen years old? You certainly write like you are.
If he is thirteen you must be eight.
@ sarge22
“MERRY CHRISTMAS”
This holiday season IS REALLY SPECIAL!!!
January 20, 2017 #MAGA
@KKKlastri
Darn… I hit a nerve again??!! Dang it.
Janauary 20, 2017 #MAGA
Keonigohan – It’s kind of hard to “hit a nerve” since you have no knowledge of the subject matter and you lie in every post.
Try learning something, and stop lying. Then maybe you can work on hitting nerves.
No problem if they completely sever their business ties with their idiot-c dad. The Chump insists to have his kids included in his inner circle as the POTUS. This is going to be the Chumps demise. America is already great and the Chumpsters are outnumbered by 3 million human beings and not some archaic electoral system. It’s only a matter of time before his scam will be confirmed and he will be impeached.
Release your taxes you fu—n crook.
At least he’s doing what needs to be done to resolve any conflicts of interest. It amazes me that the Clinton Foundation is not under the same scrutinity. NOT! This shows all you people that say there is no bias, well its written right in front of you. Will the NY AG say that he had no “intent” just like Hillary got her pass.
That amazes you? Maybe you don’t understand that Mrs. Clinton is not going to be President.
Do you understand what constitutes a conflict of interest?
The difference between the foundations is that Mr. Trump’s was founded to gather the money of other people to buy himself gifts like oversized portraits of himself. The Clinton’s was founded to gather the money of others to treat HIV and AIDS, among other diseases.
You can choose to be ignorant, or not.
I guess Chelsea was so needy they spent 1M from the foundation on her wedding. Just as one example.
KaBoom!
January 20, 2017 #MAGA
You’re lying. That didn’t happen, no matter how often that you lie abou it.
Nalogirl Hilliary is not going to be the POTUS. The rat got caught in his own trap. People who live in glass houses shouldn’t throw stones.
lol, you are kidding right? The Donald is doing what needs to be done to resolve any conflicts of interest? He has done nothing. I wonder if the situation with Turkey has been resolved? When the Donald won the election there was a for sale sign on the white house page for a brief time. We are going to have the most corrupt presidency of all time.
Any links for Eric’$ good deeds?
Google “Eric Trump Charitable Foundation”…I for some reason dunno how to get the link…CNN…maybe they know who I am?
Don’t flatter yourself.
There’s no record of Eric Trump himself doing anything, and there is no accounting available of his own contributions. His foundation gathered the money of other people to donate largely to St. Jude’s.
Nothing prevents Eric Trump from donating his own money in any amount directly to St. Jude’s. The family is lying (as they lie about everything) that they cannot donate directly, but that’s obviously not true. The conflict was created when the foundations offered access to the President-elect and his family (who will have some shadow role in government) in exchange for money. They can donate any amount to St. Jude’s without creating any conflict.
Link please
I will dissolve Trumpf University, pay out millions to those lazy students, and plead no contest in a civil case. This thing is a distracton to POTUS.As for NY AG’s, I will dissolve the charity trust. It would create conflict also. I will also keep a giant bottle of alkaseltzer to dissolve the many conflict$ that come up. As for conflicts with political picks ahhh.
Back on the drugs?
NanakuliBoss…what stage of the grief process are you at?
Jansuary 20, 2017#MAGA
Lol, nothing to dispute my post,so you use insults.lol.regular trumpf tactic.it’s all about conflicts baby. Not grief, actually it’s fun to pound holes in the trumpf train. I will laugh and enjoy the big clown on the little bike.
Plus, he is a pathological liar. Lies about everything and always.
Plain and simple, we elected a crook and a fraud as our president.
Right GG but he will be gone in January.
@ NB & KKKlastri
MERRY CHRISTMAS & many CROW meals ahead for you 2 lol
You guys got hit by a SHOCKING (not for the informed) DEVASTATING TUUUUUGE LANDSLIDE LOSS upside the head…the informed WON!
Eat CROW! ha!
January 20, 2017 #MAGA
Not T but Yuuuuuuuuuuuge
45 of the last 58 Presidential elections were won by larger margins. That’s not a landslide.
bsdetection – He lies about everything. Every article.
Is this the only thing you and the other person can post? Landslide? You might need to read all the reports out there. I you so chose to really know what the truth is…instead of just regurgitating what Mr. Trump said.
Calm down, take a deep breath and read official reports out there.
The self-dealing by the Trump Foundation went to such extreme lengths that his son’s $7 annual boy scout dues were paid by the foundation and categorized as a charitable donation.
Unfortunately for trump, he cannot shut down his foundation while the investigation is going on. More of his lies will be revealed. His lawyers will certainly be kept busy during his presidency. Will be interesting to see what spin he tries to put on his illegal activities and how much the republicans twist themselves into knots defending him.
trumpy should dissolve himself and he would be doing a favor to millions and millions of americans.
Unbelievable accusations. He should sue them for defamation of character.