The Slatest

Trump Foundation Forced to Liquidate Remaining Material Assets, Which Mainly Consist of Schlocky Portraits of Donald Trump

 People walk outside of a building owned by President Donald Trump in Manhattan on August 24, 2018 in New York City.
Donald Trump didn’t quite get the concept of charity. Spencer Platt/Getty Images

It took a while, but the Trump Foundation’s shameless self-dealing ultimately undid the president’s so-called charitable organization Tuesday, when the Donald J. Trump Foundation agreed to dissolve itself as part of an agreement with the New York Attorney General’s office. The state attorney general said an investigation into the foundation’s finances uncovered “a shocking pattern of illegality” as the now-president of the United States used the nonprofit as a receptacle to accept donations and spent them on things Trump didn’t want to spend his own money on, like schlocky art, Tim Tebow, and Donald Trump Jr.’s childhood.


As part of its dissolution, the foundation will also be required to liquidate the assets it has left, which, in a delicious twist, according to the reporting of David Fahrenthold of the Washington Post, amounts to three items: A Denver Broncos helmet signed by Tim Tebow that Trump bought for $12,000 out of his foundation coffers, and two portraits of the Donald for which Trump forked over $30,000 of foundation money. “Trump now values the three items—for which he spent $42,000 in charity money—at a combined $975, according to a recent IRS filing,” the Post reported.

Some other fun Trumpy expenditures turned up in the AG’s report and the Post’s reporting: “A $264,231 gift to the Central Park Conservancy in 1989 — appeared to benefit Trump’s business: It paid to restore a fountain outside Trump’s Plaza Hotel.” And the best of all: “a $7 foundation gift to the Boy Scouts that same year, appeared to benefit Trump’s family. It matched the amount required to enroll a boy in the Scouts the year that his son Donald Trump Jr. was 11.”