Bloomberg: Trump Keeps History at Bay by Putting Off Presidential Library
He told supporters before he left office in January that he wanted to raise $2 billion for a presidential library, according to the Washington Post, which would be the most ever. The most likely vehicle would be a nonprofit charity, the model used by modern presidents, because donations are tax deductible and the entity doesn’t have to pay tax on the money it raises, said Paul Seamus Ryan of the government-accountability group Common Cause.
He could legally accept money in unlimited amounts from sources including foreign countries, and disclosure of the donors’ identities isn’t required except by registered lobbyists who give $200 or more.
Yet such a charity requires that expenditures are used for the public good and not for private benefit of individuals, Ryan said, and Trump has faced questions before about his use of charity funds.