We can’t say we get “shocked” at the stuff Trump does anymore but you have to admit, even for Dum Dum-Donald this is a bit much. Donald is probably going to have to give back all the money his charity solicited from others. I don’t mean all of it for only a certain number of years, or all of it since he started running for president. I mean all of it. Period.
It turns out that he forgot, or neglected to get, a certification that was required to operate his charitable foundation within New York State, which is where the Donald Trump Foundation is located. You’d think he has “people” for these things, because he won’t shut the hell up about how he has “the best people.” Apparently not.
Washington Post reporter David Farenthold described how the problem developed.
Donald Trump’s charitable foundation — which has been sustained for years by donors outside the Trump family — has never obtained the certification that New York requires before charities can solicit money from the public, according to the state attorney general’s office.
Under the laws in New York, where the Donald J. Trump Foundation is based, any charity that solicits more than $25,000 a year from the public must obtain a special kind of registration beforehand. Charities as large as Trump’s must also submit to a rigorous annual audit that asks — among other things — whether the charity spent any money for the personal benefit of its officers.
This all begs the obvious question: Did Trump avoid this because he KNEW he wouldn’t be able to pass the rigorous annual audits and other more mundane regulations? Or, was he just too stupid about running a charity and he screwed it up royally? It’s probably all of both combined together into one huge pile of failure and incompetence.
Trump failed to register under a “7A” law, as it’s referred to. Trump registered under EPTL only, which has fewer requirements.
The basic gist of it is that the stricter requirements of the 7A are in place for companies that want to solicit donations from others to make sure that they aren’t taking other people’s money and blowing it on nonsense or shady deals.
EPTL registration only requires annual reports to the state and IRS but doesn’t involve independent audits. Trump was the sole donor to his charity for years, so it was less important that he handled the money properly as long as things like tax issues were correct.
Now all this has come back to bite him, to the tune of what will be over $4,000,000. New York Attorney General Eric Schneiderman has a strong likelihood of forcing Trump to refund the money solicited from others over its history. This is one of his options once he proves in court that Trump did not have the proper paperwork — which is essentially already proven with records.
Tax filings show for each of the past 10 years the Trump Foundation raised more than $25,000 from outside sources, so there’s really no way out for him on this one. It’s all there in black and white.
Since AG Schneiderman is the same guy who is currently hammering Trump over his fraudulent university, you can expect the same level of vigorous prosecution of the charity issue as well.
The funny part is, Trump keeps bragging about how he spends so little on his campaign. However, the cost in lawsuits, penalties, fines, and other such things that are coming out because of this newfound scrutiny are going to probably bankrupt him — again. What a dufus.