President-elect Donald J. Trump announced today that, as part of his ongoing transition efforts, he intends to dissolve the Donald J. Trump Foundation.

In making this announcement, Mr. Trump stated: “The Foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children. However, to avoid even the appearance of any conflict with my role as President I have decided to continue to pursue my strong interest in philanthropy in other ways.”

President-elect Trump has directed his counsel to take the necessary steps to effectuate the dissolution.

The President-elect added, “I am very proud of the money that has been raised for many organizations in need, and I am also very proud of the fact that the Foundation has operated at essentially no cost for decades, with 100% of the money going to charity, but because I will be devoting so much time and energy to the Presidency and solving the many problems facing our country and the world, I don’t want to allow good work to be associated with a possible conflict of interest.”

[TLS]