Under a settlement reached with New York authorities, he must give US$2 million to nonprofits out of his own pocket. And if he wants to start another foundation, Trump must submit to close supervision.
There is a risk that the foundation’s alleged disregard for its duty to serve others rather than one family’s personal interests could become more commonplace.
Given Trump’s substantial conflicts of interest, the foundation’s admission of self-dealing should sound a warning to both the president-elect and voters as he takes the oath of office.
The Trump Foundation has received lots of scrutiny in recent months questioning how much the candidate gives, where the charity’s money comes from and how it’s used. Here’s what we know so far.
The Clintons’ charities have recently come under scrutiny, leading its largest arm to promise to spin off into an independent organization if Hillary Clinton is elected president.