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Trump Foundation

President-elect Donald Trump will dissolve the Trump Foundation, the charitable foundation in his name.

"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. However, 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," Trump said in a statement.

The foundation has been the subject of much criticism, including allegations Trump spent money from the foundation to settle some legal disputes. The foundation admitted to violating IRS rules by improperly giving money to someone close to the organization, according to a recent federal income tax filing.

The foundation is under investigation by the New York State attorney general's office. In its 2015 tax returns, the foundation reported having assets of $1,115,991. Ref. CNN.

Foundation Trump

Trump Foundation agrees to dissolve under court supervision. The Donald J. Trump Foundation has agreed to dissolve under judicial supervision amid an ongoing lawsuit concerning its finances, according to a document filed Tuesday by the New York state attorney general's office.

The dissolution of President Donald Trump's charity resolves one element of the attorney general's civil lawsuit against the foundation, which includes claims that the President and his children violated campaign finance laws and abused its tax-exempt status.

The lawsuit will continue in court because it also seeks two other outcomes: $2.8 million in restitution, plus penalties, and a ban on Trump and his three eldest children serving on the board of any other New York nonprofit. Ref. CNN.

Trump Foundation Reviews Consumer & Travel Family Culture

Someone needs to be accountable because this is way after the fact. You can't do something wrong to get into power and then say oh well, I'm already in power so I may as well stay.