On Saturday, President-elect Donald Trump said that he was willing to dissolve his charitable foundation, known as the Trump Foundation, in order to eliminate any conflicts of interest that would arise from it after he’s sworn into office. In a statement released by Trump, he said he was dissolving the Trump Foundation “to avoid even the appearance of any conflict with my role as President.”
Trump also mentioned not too long ago that he was going to separate himself from his main real estate business, which is the Trump Organization, so that there wouldn’t be any conflict of interests there either while he’s President of the United States. This comes in despite of how he previously said that there wouldn’t be any conflicts of interest, since his three adult children were supposedly going to be running the company for him. But since it appears like they’re going to be active in his presidential administration, then it remains unclear how he’ll avoid this conflict of interest with them or himself. He has yet to explain the details behind this.
Trump praised his charitable foundation during his announcement on Saturday by acknowledging that it has donated millions of dollars to veterans and law enforcement agencies over the years. According to the tax records of the foundation, Trump has not personally made donations to the charity since 2008.
The Trump Foundation does not have any current fundraising operation going on right now nor does it have any employees. The Trump transition team says the president-elect has already advised his counsel to start dissolving the foundation. In October, the foundation had to involuntarily stop its fundraising efforts in New York after a cease-and-desist order was issued by the State Attorney General Eric Schneiderman. Apparently, the foundation had been cited for not registering itself with the state properly.