Trump's charitable foundation is shutting down


Like Trump University, Trump Airlines, Trump magazine, Trump Steaks, and Trump Vodka, The Donald J. Trump Foundation will soon cease to exist — except this time, the shutdown is planned.
In its 2015 tax filing, the charitable foundation admitted to violating rules against "self-dealing," which prohibits nonprofit leaders from directing charity money to themselves, their families, or their businesses, NBC News reports. In October 2016, the New York attorney general demanded the foundation cease asking for contributions, and in December, President Trump said he would start winding down operations to avoid conflicts of interest.
A spokesperson for the foundation confirmed it is closing down, and said it "looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations." The foundation can't close down just yet, though. "As the foundation is still under investigation by this office, it cannot legally dissolve until that investigation is complete," Amy Spitalnick, a spokeswoman for the New York attorney general's office, told NBC News. The foundation's 2016 IRS filing, filed this month, states it had assets of close to $970,000.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
5 museum-grade cartoons about Trump's Smithsonian purge
Cartoons Artists take on institutional rebranding, exhibit interpretation, and more
-
Settling the West Bank: a death knell for a Palestine state?
In the Spotlight The reality on the ground is that the annexation of the West Bank is all but a done deal
-
Codeword: August 23, 2025
The Week's daily codeword puzzle
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year