BREAKING. Trump Foundation Admits To Violating the Law

Source: RedState | November 22, 2016 | streiff

Over the course of this election season, Donald Trump’s personal philanthropy and his pattern of seemingly using his charitable foundation as a personal piggy bank received a lot of attention. His foundation was reported to have used foundation funds, that is, funds for which someone received a tax deduction, to pay the personal expenses of Trump and to buy Trump gifts. This violates a very unambiguous bright line IRS rule that forbids foundations from “self dealing.” In other words, charitable entities cannot use their funds to benefit people who manage the entity.

After denials and non-denial denials, the Trump Foundation has now come clean and admitted malfeasance:

President-elect Donald Trump’s charitable foundation has admitted to the IRS that it violated a legal prohibition against “self-dealing,” which bars nonprofit leaders from using their charity’s money to help themselves, their businesses or their families.

That admission was contained in the Donald J. Trump Foundation’s IRS tax filings for 2015, which were recently posted online at the nonprofit-tracking site GuideStar. A GuideStar spokesman said the forms were uploaded by the Trump Foundation’s law firm, Morgan, Lewis and Bockius.

The Post could not immediately confirm if the same forms had actually been sent to the IRS.

In one section of the form, the IRS asked if the Trump Foundation had transferred “income or assets to a disqualified person.” A disqualified person, in this context, might be Trump — the foundation’s president — or a member of his family, or a Trump-owned business.

The foundation checked “yes.”

Another line on the form asked if the Trump Foundation had engaged in any acts of self-dealing in prior years. The Trump Foundation checked “yes” again.

Such violations can carry penalties including excise taxes, and the charity leaders can be required to repay money that the charity spent on their behalf.

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  • Consistent #11612

    ConservativeGranny #11613

    This was known before the election I think. I remember reading claims that he was doing this and using his foundation in that way.

    I predicted he would be even more corrupt than Hillary. Looks like I may end up to be right.

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