President-elect Donald Trump speaks during a thank you rally in Ladd-Peebles Stadium on December 17, 2016 in Mobile, Alabama. Mark Wallheiser—Getty Images
Mark Wallheiser—Getty Images
By Maya Rhodan
December 24, 2016

President-elect Donald Trump intends to shutter his charitable foundation in an effort to eliminate potential conflicts of interest, according to a new report.

The New York Times reports aides close to the president-elect are mulling ways to distribute the assets of his charitable organization and shut it down. The Trump Foundation has raised $13.6 million since it was launched 28 years ago, with $4.9 million coming directly from Trump. The president-elect, however, has not donated to the charity at all since 2008, according to CBS News.

Trump’s foundation has come under investigation by New York state’s attorney general, who ordered the organization to stop raising money in the state because it was not properly registered. The foundation also admitted to violating some self-dealing rules in a 2015 IRS filing.

Saturday’s report comes just days after Trump’s son Eric suspended operations at his own charitable foundation.

President-elect Trump had previously been critical of the fact that his son had to step away from his foundation.

Trump is also reportedly in talks to loosen ties with his business empire, according to the Times. The issue of conflicts of interest has been raised repeatedly by Trump’s critics as he plans his transition to the White House.


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