Trump will dissolve his charity amid lawsuit alleging he used it as his personal 'checkbook'


President Trump's charity is shutting down.
Amid a lawsuit alleging the president used the Trump Foundation for personal and political gain, the charity agreed to "dissolve" and donate its "remaining assets" to approved charities, New York Attorney General Barbara Underwood announced Tuesday. Trump tried to get the state lawsuit thrown out as recently as last month, but a judge ruled it could proceed. The suit effectively claims that "persistently illegal conduct" turned the charity into Trump's personal piggy bank.
Per a document filed in a Manhattan court Tuesday, the Trump Foundation will "dissolve under judicial supervision." The foundation's most recent tax return says it has about $1.7 million in assets, reports CNN. Those funds will go to charities chosen after "review and approval by the attorney general," the release says.
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.
The lawsuit was filed by Underwood in June, and alleges "a shocking pattern of illegality ... including unlawful coordination with the Trump presidential campaign," per the release. Essentially, Underwood says the Trump Foundation served as Trump's personal "checkbook."
Tuesday's agreement is just one of three "outcomes" the attorney general was hoping for, CNN notes. The lawsuit "also seeks millions in restitution and penalties and a bar on President Trump and his three eldest children from serving on the boards of other New York charities," the attorney general's statement, so it'll continue to be fought in court.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
5 hilariously sparse cartoons about further DOGE cuts
Cartoons Artists take on free audits, report cards, and more
By The Week US Published
-
Following the Tea Horse Road in China
The Week Recommends This network of roads and trails served as vital trading routes
By The Week UK Published
-
Crossword: March 30, 2025
The Week's daily crossword
By The Week Staff Published
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US Published
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US Published
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US Published
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published