In this Dec. 15, 2016, file photo, President-elect Donald Trump speaks during a rally in Hershey, Pa. Trump said Saturday, Dec. 24, he will dissolve his charitable foundation amid efforts to eliminate any conflicts of interest before he takes office next month. AP File Photo
WEST PALM BEACH, Fla.鈥擯resident-elect Donald Trump said Saturday he will dissolve his charitable foundation amid efforts to eliminate any conflicts of interest before he takes office next month.
The revelation comes as the New York attorney general鈥檚 office investigates the foundation following media reports that foundation spending went to benefit Trump鈥檚 campaign.
READ: New York to open inquiry into Trump foundation
Trump said in a statement that he has directed his counsel to take the necessary steps to implement the dissolution of the Donald J. Trump Foundation, saying that it operated 鈥渁t essentially no cost for decades, with 100 percent of the money going to charity.鈥�
鈥淭he foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,鈥� he said in a statement.
鈥淚 will be devoting so much time and energy to the presidency and solving the many problems facing our country and the world. I don鈥檛 want to allow good work to be associated with a possible conflict of interest,鈥� he said.
Trump said he will pursue philanthropic efforts in other ways, but didn鈥檛 elaborated on how he鈥檇 do so.
A 2015 tax return posted on the nonprofit monitoring website GuideStar shows the Donald J. Trump Foundation acknowledged that it used money or assets in violation of IRS regulations 鈥� not only during 2015, but in prior years.
Those regulations prohibit self-dealing by the charity. That鈥檚 broadly defined as using its money or assets to benefit Trump, his family, his companies or substantial contributors to the foundation.
The tax filing doesn鈥檛 provide details on the violations. Whether Trump benefited from the foundation鈥檚 spending has been the subject of an investigation by New York Attorney General Eric Schneiderman.
In September, Schneiderman disclosed that his office has been investigating Trump鈥檚 charity to determine whether it has abided by state laws governing nonprofits.
Documents obtained by The Associated Press in September showed Schneiderman鈥檚 scrutiny of The Donald J. Trump Foundation dated back to at least June, when his office formally questioned the donation made by the charity to a group supporting Florida Attorney General Pam Bondi.
Bondi personally solicited the money during a 2013 phone call that came after her office received complaints from former students claiming they were scammed by Trump University, Trump鈥檚 get-rich-quick real estate seminars.
The Trump Foundation check arrived just days after Bondi鈥檚 office told a newspaper it was reviewing a lawsuit against Trump University filed by Schneiderman. Bondi鈥檚 office never sued Trump, though she denies his donation played any role in that decision.
Trump later paid a $2,500 fine over the check from his foundation because it violated federal law barring charities from making political contributions.
Amy Spitalnick, press secretary for Schneiderman鈥檚 office, said Saturday that the foundation 鈥渃annot legally dissolve鈥� until the investigation is complete.
The charitable foundation was ordered to immediately stop fundraising in New York just weeks before the general election, Schneiderman鈥檚 office saying it wasn鈥檛 registered to do so. The N.Y. attorney general鈥檚 office said in October the Trump Foundation had a registration for an organization with assets in New York, but the law requires a different registration for those that solicit more than $25,000 a year from the public. It complied with the order and stopped its fundraising activities.
Trump was highly critical of Democratic rival Hillary Clinton鈥檚 family charity, the Clinton Foundation, saying without evidence that she ran 鈥渁 vast criminal enterprise run out of the State Department鈥� while she was secretary of state. At the final presidential debate, he challenged Clinton to 鈥済ive back the money鈥� that came from donors in countries that fail to respect various human rights.
More than half the people outside the government who met with Clinton while she was secretary of state gave money 鈥� either personally or through companies or groups 鈥� to the Clinton Foundation. The proportion indicated possible ethics challenges had she been elected president.
Trump鈥檚 announcement to dissolve his own foundation came a day after the president-elect took to Twitter to declare it a 鈥渞idiculous shame鈥� that his son Eric will have to stop soliciting funds for his charitable foundation, the Eric Trump Foundation, because of a conflict of interest.
鈥淢y wonderful son, Eric, will no longer be allowed to raise money for children with cancer because of a possible conflict of interest with my presidency,鈥� Trump tweeted. 鈥淗e loves these kids, has raised millions of dollars for them, and now must stop. Wrong answer!鈥�
Trump was in his South Florida estate, Mar-a-Lago, on Saturday, his retreat for most holidays. He spent the week meeting advisers and interviewing candidates for a handful of Cabinet positions that remain unfilled.
The president-elect also continued his criticism of a decision by the United Nations to condemn Israeli settlements in the West Bank and East Jerusalem, saying Saturday that it 鈥渨ill make it much harder to negotiate peace.鈥�
Trump took to Twitter a day after the U.N. Security Council vote on the settlements, saying that the decision is 鈥渢oo bad, but we will get it done anyway.鈥�
He didn鈥檛 elaborate, but a move by the Obama administration to abstain from Friday鈥檚 U.N. vote brushes aside Trump鈥檚 demands that the U.S. exercise its veto and provided a climax to years of icy relations with Israel鈥檚 leadership.
In a change of personnel, one of Trump鈥檚 senior communications staffers, Jason Miller, said Saturday he would not take the job of White House communications director after all. Miller said in a statement that he and his wife are expecting their second daughter in January and 鈥渢his is not the right time to start a new job.鈥� In his place, Sean Spicer will serve as communications director as well as press secretary.