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Trump Organization Won’t Disclose Size of Foreign Profits
The Trump Organization announced that it donated its 2017 profits from foreign governments to the U.S. Treasury, but failed to disclose how much it donated or how it determined the number to donate. The company made the “voluntary” donation on Thursday, chief compliance counsel George Sorial said, and was “calculated in accordance with our policy and the Uniform System of Accounts for the Lodging Industry.” The Uniform System of Accounts for the Lodging Industry does not specifically provide means for companies to identifying customers who work for foreign governments in the financial statement standards—so it is unclear to what the organization considered an expense from a foreign government in its donation. This comes as President Trump has faced scrutiny for hosting foreign governments at his various properties, and as the organization refused to provide a list of its foreign customers because it was “impractical in the service industry.”
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