Trump’s Charitable Foundation Closing Down

As promised by President Donald Trump, his charitable foundation is dissolving in order to avoid conflicts of interest. In its annual tax return filed with the IRS, the Donald J. Trump Foundations said it raised almost $3 million, asking for approval to distribute the remaining funds.

“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 spokesman for the foundation said.

The foundation donated $3.1 million in 2016, mainly to veteran’s organizations, received $1 million from Laura Perlmutter and another $100,000 from the president’s daughter, Ivanka Trump, Bloomberg reports.

In December, as president-elect Trump promised to close the foundation and thus “avoid even the appearance of any conflict with my role as president,” saying he will continue to pursue his “strong interest in philanthropy in other ways.”

The Trump Foundation was previously put under scrutiny, after admitting it had given “assets to a disqualified person,” a prohibited action, though it remains unclear who the person is. In 2016, an investigation was launched by New York Attorney General Eric Schneiderman in the organization about a donation to a political fundraising group, which according to a statement issued on Monday evening, is still ongoing. In October 2016, the attorney general ordered the foundation to stop fundraising until it obtains state licensing.

“Our investigation into the Donald J. Trump Foundation remains ongoing. Its fundraising activities remain suspended following the AG’s notice of violation last year. As the foundation is still under investigation by this office, it cannot legally dissolve until that investigation is complete,” said Amy Spitalnick, a spokeswoman for Schneiderman.

Trump hasn’t made any contributions to his foundation since 2008, when he contributed $30,000.

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