Tuesday, November 22, 2016

An analysis of The Eric Trump Foundation’s financial documents reveal the charity funneled cash to Donald Trump.

October 2, 2016Timothy Bertrand Finance
Eric Trump Foundation Gave Directly To Donald Trump’s Company

Amidst sensational headlines of leaked tax returns and audio, a low-key analysis by The Daily Beast largely avoided the spotlight. A careful review of Eric Trump’s charity revealed the eponymous foundation spent large sums of money at fundraising events on Donald Trump’s golf courses—$881,779 in total. In 2013, $100,000 went directly to Donald Trump himself. He received a further $88,000 in 2014.

“There’s nothing necessarily wrong with contracting with businesses you own,” says Law Professor Philip Hackney. An ethical problem emerges, however, when such a “charitable” organization touts a 95 to 100 percent donation ratio, as The Eric Trump Foundation does.  “There’s a question—maybe not of the legality, but of the ethics of it,” Hackney tells The Daily Beast.

The foundation does not disclose these expenditures to donors. The Who We Fund portion of the ETF’s official website simply lists the St. Jude Children’s Research Hospital as a beneficiary, suggesting donors to the foundation are under the false impression that they’re directly funding the hospital.

Read more
http://reverbpress.com/finance/eric-trumps-charity-troubles-deepen/

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