Forbes: Eric Trump charity money went to Trump business

Washington (CNN)Eric Trump is pushing back against a Forbes report released Tuesday that alleges his Eric Trump Foundation shifted money from a charity golf tournament for St. Jude Children's Research Hospital into the Trump Organization.

The annual Eric Trump Foundation golf invitational took place each year from 2007 to 2015 at the Trump National Golf Club in Westchester County, New York. President Donald Trump's second eldest son told the magazine that use of the golf course was free, and much of the merchandise, drinks and entertainment was comped.

"We get to use our assets 100% free of charge," he told Forbes.

But, per the Forbes report, "in reviewing filings from the Eric Trump Foundation and other charities, it's clear that the course wasn't free -- that the Trump Organization received payments for its use, part of more than $1.2 million that has no documented recipients past the Trump Organization."

Two people directly involved told Forbes that in 2011 Donald Trump "specifically commanded that the for-profit Trump Organization start billing hundreds of thousands of dollars to the nonprofit Eric Trump Foundation."

According to IRS tax filings, the costs for the golf invitational from 2007 to 2010 were approximately $50,000 per year. In 2011, that jumped to about $142,000. The 2012 golf invitational cost the foundation $59,000. Costs in 2013 again jumped to $230,000, and $242,000 in 2014, and $322,000 in 2015, its final year. It's unclear why the costs went up and how much of that money went to the Trump Organization.

A spokesperson for Eric Trump slammed the story as "shameful" and "truly disgusting," highlighting the foundation's work raising over $16.3 million for St. Jude children with an expense ratio of 12.3% and the construction of a $20 million ICU.

"Contrary to recent reports, at no time did the Trump Organization profit in any way from the foundation or any of its activities," the spokesperson said in a statement.

"While people can disagree on political issues, to infer malicious intent on a charity that has changed so many lives, is not only shameful but is truly disgusting. At the end of the day the only people who lose are the children of St. Jude and other incredibly worthy causes," the statement said.

The spokesperson did not respond to CNN's request to provide an explanation for the rising costs.

Trump also fired back via Twitter to a designer who wrote that Trump stole from children with cancer.

"I have raised $16.3 million dollars for terminally ill children at @StJude with less than a 12.3% expense ratio. What have you done today?!" he wrote Tuesday evening.

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Eric Trump ✔ @EricTrump
I have raised $16.3 million dollars for terminally ill children at @StJude with less than a 12.3% expense ratio. What have you done today?! https://twitter.com/glennf/status/872239277366575104 …
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At the end of 2016, Trump stepped aside from all direct fundraising efforts for his eponymous organization, which was subsequently restructured and renamed.

"While I resigned with a heavy heart, it was a voluntary decision to enact these measures during the tenure of my father's presidency in order to avoid the appearance or assertion of any impropriety and/or a conflict of interest," Trump wrote in a letter on the foundation's website.

************

Trump Family Values
ERIC TRUMP CALLS DEMOCRATS SUBHUMAN AFTER REPORT HIS CHARITY RIPPED OFF KIDS
“They’re not even people.”

http://www.vanityfair.com/news/2017/06/eric-trump-democrats-not-people

I'm sure their theory was that the donation money would do more good if they invested it in their business and let it "trickle down" to those kids. If they invest in building the Trump empire, it creates jobs, and then the more people that have jobs, the more they could invest in even more funding for cancer research!

It's all very heroic, really, I'm sure. The Trump family would never do anything bad. If they were immoral, would all those evangelicals have voted for them? Surely not!

How does that 12.3% expense ratio compare to other charities?

For that matter... how does it compare to the Clinton slushfund foundation?

What's the issue?

Other than it being a dnc talkingpoint disseminated through their mainstream media wing... of course.

PkrBum wrote:How does that 12.3% expense ratio compare to other charities?

For that matter... how does it compare to the Clinton slushfund foundation?

What's the issue?

Other than it being a dnc talkingpoint disseminated through their mainstream media wing... of course.

All good questions...for Google, or you could try reviewing posts on THIS FORUM.

You ppl don't get it. Trump stealing $ from a kid's cancer charity is just ordinary locker room stealing $ from a kid's cancer charity.
John F

What's the issue?

The issue is by statute in every state which the AG has authority to monitor not for profit foundations restricts self dealing. The mob in Chicago immediately moved into the general exception of self dealing and made huge profits over charitable events. In Illinois a not for profit can apply for a one day license to host a poker tournament. It started at churches which historically had a casino night fund raiser. The mob began rotating the applications from mob controlled locations where they would run tv ads about tournaments at certain locations. A typical location would have three hundred to five hundred poker players paying a thirty dollar entry fee, plus the poker tournament buy in. So these locations would generate 15k right off the git go, and then got an administrative fee off the poker purse usually in the 10k range meaning that once a week in Illinois the mob was getting 25k which should have gone to a charitable cause after paying the dealers, tv commercials, and hall rental. Well they were charging a 20k facility charge and were self dealing leaving pennies for the charitable cause. The Illinois AG prosecuted under the Illinois statute which was just a misdemeanor violation and the mob did not care.

Initially the Trump kid and his buddies actually ran a legitimate charity. However, when he started generating big numbers, it is alleged that President Trump replaced people on the board with Trump's people and they started paying huge facility charges which like the mob, went in different Trump enterprises. The charitable ratio was for the 10 year average before they started skimming the profits. This is an old mob trick and the issue is that it violates criminally state statutes which monitor not for profits. It is only a misdemeanor and probably nobody is going to jail, but the issue is you cannot use a not for profit to self deal.