ALBANY – President Donald Trump’s charity will shut down with its remaining assets distributed to other not-for-profit organizations as part of an agreement filed Tuesday by New York Attorney General Barbara Underwood.
The stipulation between the Donald J. Trump Foundation and Underwood’s office calls for the charity to dissolve under judicial supervision, wiping out its certificate of incorporation and ending its existence.
The agreement was signed Dec. 11 by attorneys for the Trump Foundation and the Attorney General’s Office. It is awaiting a state judge’s approval.
It comes after Underwood filed a lawsuit against Trump in June, accusing him of illegally using the charity to boost his presidential campaign in 2016.