“I don’t have to pay $5 million to a charity of his choice, it’s not a publicity stunt, it’s a serious, very serious offer, essentially where a charity is the beneficiary, a great charity and a charity of his choice,” the man dubbed “The Donald” tells Morgan. “[It] has nothing to do with me. Here is $5 million, a tremendous amount of money going to a charity of his choice; all he has to do is show some papers.” Donald Trump interview by Piers Morgan, October 24, 2012
October 25, 2012 – Donald Trump has promised to make a $5 million dollar contribution to a charity of President Obama’s choice if our President will show his homework – his college applications and his transcripts. Did he make a contribution to his private foundation since filing his 12/2009 return? Right now, the Donald J. Trump Foundation only shows net assets of $3,237,927. He’s appearing on the Dave Letterman Show tonight – will donations coming pouring in?
Mr. Trump is so enthusiastic about his pitch to make a $5 million dollar gift to President Obama’s favorite charity that he may have forgotten to check the fund balance.
Is this a mere oversight or indicative of Mr. Trump’s philanthropy? The Smoking Gun thinks so and called him a miser, the least charitable billionaire. It also pointed out that World Wide Wrestling Federation made a contribution to the Donald J. Trump Foundation – or did it? Yes, it did. In the same year he increased his foundation’s assets by $0, the World Wide Wrestling Federation made contributions totalling $5,000,000 to the Donald J. Trump Foundation for a part in one or two storylines.
A review of Donald J. Trump Foundation’s tax returns is even more intriguing. His foundation received a contribution from People Magazine for a photo of his newborn, Barron, for $150,000. Maurie Povitch made a donation in 2002 of $5000. Its 2008 return shows a contribution from the Willard TC Johnson Foundation in NYC for $250,000 for general support. The Celebrity Fight Night Foundation, a charitable foundation, also made a donation to Donald J. Trump Foundation for $150,000 in 2008. Stark Carpet Company has made a contribution to the Donald J. Trump Foundation nearly every year since it began about 12 years ago.
Why are these individuals and charitable foundations making gifts to the Donald J. Trump Foundation? He needs to be more transparent. After all, among individuals, a private foundation has more limits on charitable deductions. His private foundation gives away 5% of its assets annually, as it must, and it makes grants to many worthy organizations. Nevertheless, it is a private foundation that is not entirely funded by Mr. Trump but benefits him and his heirs far more than his donors. Where is that $5 million coming from?
This is, no doubt, all perfectly legal.
But if President Obama declines to produce his school records, is it too late to ask for the rest of Donald Trump’s personal tax returns? The private foundation returns are a public record we can access but the benefit to his personal tax situation is a mystery.
All he needs to do is show a piece of paper.
The complexity of the tax code allows too much government intrusion into our lives. Donald Trump, The America We Deserve, 2000