President-elect Donald Trump has announced that he intends to close down his charitable foundation due to the controversial matters surrounding it concerning how it spent and accumulated all of its funds.
Mr. Trump did not announce when exactly he would shut down the foundation, but has already initiated the necessary steps to be taken by notifying his lawyer.
The timeframe in determining when exactly the final closure of this foundation would even be final is also uncertain at this time, as an investigation into it is still continuing.
Mr. Trump stated that his foundation has greatly assisted the needs of children, law enforcements, and veterans in the United States, saying that millions of dollars have been sent to their aid.
A Clash with his Presidency
Mr. Trump during his statement mentioned that he seeks to offer his generosity and contribution towards the society in alternative methods instead, as he nears his inauguration as president less than a month from now.
The Foundation owned by Donald Trump has been under heavy fire for a while now, as it has received several accusations of the money being sent to it being spent instead to tackle several lawsuits that were filed against him regarding his other profitable businesses at hand.
The foundation has been under a thorough investigation and revision after these allegations had increased.
The attorney general for the state of New York has announced that unless this ongoing investigation continues until the end, the foundation cannot proceed in shutting down as of yet.
Mr. Trump stated that he does not wish to enter a clash with his presidency and the current conflicts surfacing with his foundation, as his help will be asked for on a far broader scale, both within the United States and elsewhere in the world.
According to Mr. Trump, his foundation has never functioned or operated with any costs for several decades now, adding that it strictly collects the money and donates it back to the people who need it.