Tuesday, November 21, 2017

Donald Trump is shutting down his so-called charitable foundation

Donald Trump is shutting down his so-called charitable foundation

This is not really news. The foundation has been essentially meaningless for quite some time, because it has been and still is under investigation, and it cannot raise or disburse money until the probe is concluded. Trump long ago announced his intention to shut down the non-profit as soon as the investigation was concluded. This "new" story says exactly the same thing we knew last December, namely that the fund will be dissolved when the investigation is complete.

The basis of the investigation:

"The Washington Post reported last year that Trump had used the charity for questionable purposes, including to make a political contribution, to settle legal matters involving his for-profit companies and to buy a large portrait of himself that he hung at one of his golf resorts."

The fund has actually donated to legit charities, but "In its previous tax filing in 2015, the foundation acknowledged violating a legal prohibition against a 'self-dealing' that bars nonprofit leaders from funneling their charity's money to themselves, their businesses or their families."

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