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Timothy L. O'Brien

The Trump Foundation Gets Put to Sleep

New York’s attorney general dissolves the president’s personal piggy bank, but a lawsuit against the faux charity alleging fraud continues.

Digging and digging and digging.

Digging and digging and digging.

Photographer: Paul Morigi/WireImage

The Trump Foundation, a tiny New York outfit masquerading as a philanthropy but operating, essentially, as a personal piggy bank for the president of the United States, is no more.

Barbara Underwood, the New York state attorney general, announced on Tuesday that her office and the foundation signed a stipulation agreeing to dissolve Donald Trump’s long-standing but chronically underfunded gesture toward charitable giving. Trump launched his foundation in 1988 as a vehicle, he claimed, for distributing profits from his bestseller “The Art of the Deal” to needy causes, but the foundation was housed at his company, the Trump Organization, and had no dedicated staff or office space.