Trump to Dissolve His Charitable Foundation

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"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.”

Donald Trump plans to dissolve the Donald J. Trump Foundation, the president-elect announced in a statement Saturday.

The decision comes as part of Trump's ongoing transition efforts "to avoid even the appearance of any conflict" between his business and job as president of the United States.

“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," said Trump in the statement of the 28-year-old foundation. "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.”

According to the statement put out by his transition team, Trump has charged his counsel with handling the dissolution.

The foundation has come under increased scrutiny and is under investigation by the New York State Attorney General's office.

Trump added that he doesn't want to allow the work accomplished by the foundation to be tarnished by being viewed as a potential conflict of interest.

"I am very proud of the money that has been raised for many organizations in need, and I am also very proud of the fact that the Foundation has operated at essentially no cost for decades, with 100 percent of the money going to charity," he said. "But because I will be devoting so much time and energy to the Presidency and solving the many problems facing our country and the world, I don’t want to allow good work to be associated with a possible conflict of interest." 

The Trump Foundation has raised $13.6 million since it was launched, with $4.9 million donated directly from Trump. The president-elect has not donated to the charity since 2008, according to CBS News.

On Thursday, Eric Trump suspended operations at his own charitable foundation, The Eric Trump Foundation, something the president-elect was critical about.

Trump initially announced plans for a Dec. 15 news conference to discuss the separation of his businesses interests from the presidency, but had postponed the conference to a later January date.

Later on Saturday, Jason Miller backed out of his job as Trump's director of communications, only two days after the president-elect had announced Miller would be joining his senior communications team.

“After spending this past week with my family, the most amount of time I have been able to spend with them since March 2015, it is clear they need to be my top priority right now and this is not the right time to start a new job as demanding as White House communications director,” Miller told Politico. "My wife and I are also excited about the arrival of our second daughter in January, and I need to put them in front of my career."

Sean Spicer, who was named to be White House press secretary when Miller's position was announced, will take over Miller's responsibilities, Politico reported.

Dec. 24, 5:50 p.m. ET: Updated with Miller quote.