Donald J. Trump Foundation to Dissolve and Distribute Remaining Funds to Charity

The Donald J. Trump Foundation and the New York attorney general Barbara Underwood have agreed that the foundation will dissolve under judicial supervision and distribute its remaining assets to charities approved by the attorney general’s office.  The proposed agreement was filed yesterday in the New York State Supreme Court for New York County and requires the signature of Justice Saliann Scarpulla to be effective.

This agreement is the result of litigation in which the state has alleged that President Trump used the foundation for personal gain, violating tax laws.

Jones, Paige. Trump Foundation to Dissolve Under Proposed Agreement. Tax Notes. Dec. 19, 2018.

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