- Jul 13, 2017
- Reaction score
- Political Leaning
- Slightly Liberal
They have agreed to dissolve and New York is seeking restitution of more than $2 million.
As part of its agreement with the attorney general’s office, the foundation will be required to sell its remaining assets and donate the proceeds, said Amy Spitalnick, a spokeswoman for Underwood.
That includes a Denver Broncos football helmet signed by former quarterback Tim Tebow, which Trump bought at a charity auction in 2012 with $12,000 in Trump Foundation money. The charity also owns two large portraits of Trump, for which Trump paid a combined $30,000 in 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 attorney general’s suit alleges that Trump used his charity’s money as his own piggy bank — including to help his presidential campaign by paying for giveaways at Iowa rallies.
“The Foundation was little more than a checkbook for payments to not-for-profits from Mr. Trump or the Trump Organization,” Underwood wrote in the initial suit.