Donald Trump Plans to Shut Down His Charitable Foundation

President-elect Donald Trump said he plans to shut down his charitable foundation, a decision that comes after repeated controversies over how it collected and disbursed funds.

In a statement Saturday, Trump offered no timeline for when his foundation would close down, but said he had directed his attorney to take the steps needed to close it. It was not immediately clear when the foundation would be able to dissolve, given an ongoing investigation in New York.

"The 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," Trump said in the statement. "However, to avoid even the appearance of any conflict with my role as President I have decided to continue to pursue my strong interest in philanthropy in other ways."