President Donald Trump is shutting down his charitable foundation, after promising to do so after he was elected president.
NBC News reports that newly filed documents show that the Donald J. Trump Foundation is in the process of dissolving.
Trump announced plans to shut down the foundation in December 2016 after he was elected president.
“[B]ecause 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,” Trump said at the time.
A spokesperson for the foundation said that the remaining money within the charitable organization would be transferred to other causes.
“The Foundation looks forward to distributing its remaining assets at the earliest possible time to aid numerous worthy charitable organizations,” the spokesperson said in a statement.