Donald Trump used funds from his foundation to cover his $12,000 winning bid for a piece of sports memorabilia at a Florida charity auction four years ago, a payment tax experts say might violate Internal Revenue Service rules, The Washington Post writes.
The presumptive Republican presidential nominee’s payment to breast-cancer nonprofit Susan G. Komen for a football jersey and a helmet autographed by former star quarterback Tim Tebow came from his Donald J. Trump Foundation, according to the Post, which has been investigating Mr. Trump’s giving and claims about his philanthropy. Mr. Trump has given little of his own money to the foundation, which has largely been funded by other donors.
IRS rules on “self-dealing” bar the “furnishing of goods” by private foundations to their own officials. Experts on nonprofit tax issues tell the Post that whether the auction purchase transgressed the regulations would likely depend on whether Mr. Trump kept the Tebow items or, for example, gave them via his foundation to another charity to sell.