NBC News: President Trump shutting down his charitable foundation

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President Donald Trump waves as he boards Air Force One, Saturday, Oct. 7, 2017, in Andrews Air Force Base, Md., en route to a fundraiser in Greensboro, N.C. (AP Photo/Carolyn Kaster)

WASHINGTON (WFLA) — NBC News is reporting that President Donald Trump’s charitable foundation is in the process of dissolving. The report cites newly filed documents.

The move will fulfill a promise to wind down the Donald J. Trump Foundation to avoid conflicts of interest. Then President-Elect Trump made the announcement last December.

According to the foundation’s 2016 Internal Revenue Service filing that was filed this month, the foundation “announced its intent to dissolve.” The filing also says the foundation is waiting for approval to “distribute its remaining funds” to other charities. The documents show the foundation had about $970,000 at the end of 2016.

New York’s attorney general ordered the foundation to stop soliciting contributions last October. A spokesperson for the foundation confirmed in a statement that it is being shuttered to “cooperate with the New York Attorney General’s Charities Division.

“As previously announced by the President, his advisers are working with the Charities Division to wind up the affairs of the Foundation,” the statement says, according to NBC News. “The Foundation looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations.”You can read the full report from NBC News here. 

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