Donald Trump announces he’ll dissolve his foundation

President-elect Donald Trump has announced he is going to dissolve his Donald J. Trump Foundation, “to avoid even the appearance of any conflict with my role as President.”

Trump’s transition team released a statement about the dissolution Saturday afternoon, adding that the part-time Palm Beach resident “has directed his counsel to take the necessary steps to effectuate the dissolution.”

Audience members applaud as President-elect Donald Trump enters the White and Gold Ballroom following a talk by David Shedd, a former acting director of the Defense Intelligence Agency, at Mar-a-Lago as part of a World Affairs Council Distinguished Speaker Series Tuesday, December 20, 2016. (Bruce R. Bennett / Daily News)

Audience members applaud as President-elect Donald Trump enters the White and Gold Ballroom following a talk by David Shedd, a former acting director of the Defense Intelligence Agency, at Mar-a-Lago as part of a World Affairs Council Distinguished Speaker Series Tuesday, December 20, 2016. (Bruce R. Bennett / Daily News)

The move comes as Trump spends the holidays at his Mar-a-Lago Club in Palm Beach. He is expected to attend a Christmas Eve service tonight at

“The Foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,” Trump said in the statement released by his transition staff. “However, to avoid even the appearance of any conflict with my role as President I have decided to continue to pursue my strong interest in philanthropy in other ways.

“I am very proud of the money that has been raised for many organizations in need, and I am also very proud of the fact that the Foundation has operated at essentially no cost for decades, with 100% of the money going to charity, but because I will be devoting so much time and energy to the Presidency and solving the many problems facing our country and the world, I don’t want to allow good work to be associated with a possible conflict of interest,” he added.

The Donald J. Trump Foundation remains under investigation by the New York Attorney General, which issued the foundation a notice of violation in September and ordered it to “cease and desist from soliciting contributions in New York,” according to a news release issued at the time by the New York Attorney General’s Office. That action followed a report by The Washington Post that the Trump Foundation did not have the proper certification required in New York to solicit donations.

A spokeswoman for the New York Attorney General’s Office told The Washington Post on Saturday that Trump’s foundation “cannot legally dissolve until that investigation is complete.”

Trump’s son, Eric Trump, announced this past week that he would stop raising money for his Eric Trump Foundation, which collects donations to support childhood cancer research at St. Jude Children’s Research Hospital.

Trump’s plans to dissolve the foundation were reported earlier Saturday by The New York Times.

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