Report: Trump plans to shutter his charitable foundation
President-elect Donald Trump intends to shutter his personal charity and divvy up its assets amid ongoing concerns regarding the potential conflicts of interest and ethics violations that could arise after he takes office next month, The New York Times reported.
Mr. Trump and unidentified aides to the president-elect have recently conceded that “he intends to distribute the assets of his personal charity and then shutter it,” The Times reported Saturday.
The charity, the Donald J. Trump Foundation, was established in 1988 in order to distribute proceeds of the New York businessman’s best-selling book, “Trump: The Art of the Deal.”
Nearly 30 years later, however, its operations became a lightning rod for criticism during Mr. Trump’s successful White House campaign.
“I certainly can’t deny there is a greater desire to sort of clear the decks as much as possible to avoid distractions,” Alan Garten, Trump Organization general counsel, told The Times.