Donald Trump announced Saturday he plans to dissolve the Trump Foundation in an effort to avoid the appearance of conflicts of interest during his administration.
The president-elect has also said recently that he hopes to shares plans to disassociate himself from his business, the Trump Organization, to avoid conflicts of interest as president of the United States.
Trump likes to boast about the many organizations that have received donations over the years that have benefited from his foundation - veterans, law enforcement and children's groups.
What Trump often leaves out is the fact that he hasn't donated any of his own money to his foundation since 2008. And the fact that the "charity" is under investigation for using foundation funds to settle private debts which may make "dissolving" the foundation illegal at this point.
More from CNN:
The Trump transition said Trump directed his counsel to take the necessary steps to dissolve the foundation, which has no employees or active fundraising operation. The foundation also was forced to stop fundraising in New York State after New York Attorney General Eric Schneiderman issued a cease-and-desist order in October citing the foundation's failure to properly register with the state.
And an ongoing investigation launched by Schneiderman over allegations Trump used the charity to settle private legal disputes in which he was involved may prevent Trump from shuttering the foundation.
"The Trump Foundation is still under investigation by this office and cannot legally dissolve until that investigation is complete," Amy Spitalnick, the attorney general's press secretary, said in an email. She also confirmed the foundation's fundraising activities "remain suspended."
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