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President Trump's charitable foundation is being shut down - ABC News

posted onNovember 21, 2017
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Article snippet: President Donald Trump's namesake charitable foundation is being shut down, in keeping with previously announced plans. In a filing with the IRS last week, the foundation said it intends to dissolve and is seeking approval to distribute its remaining funds. The documents were posted publicly on Guidestar.org and reviewed by ABC News. "The foundation continues to cooperate with the New York attorney general's charities division, and as previously announced by the president, his advisers are working with the charities division to wind up the affairs of the foundation. The foundation looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations," a spokesperson for the Trump Foundation told ABC News. In December, when Trump was president-elect, he announced plans to shutter the Trump Foundation "to avoid even the appearance of any conflict with my role as president." "I have decided to continue to pursue my strong interest in philanthropy in other ways," he added. The organization had come under scrutiny for its practices. Last year the Trump Foundation conceded that it gave "income or assets" to a "disqualified person" — a prohibited practice known as self-dealing — according to a 2015 tax filing obtained by ABC News. It was not clear from the filing how much was given or to whom. New York Attorney General Eric Schneiderman launched the investigation into the Trump Foundation in 2016 o... Link to the full article to read more

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