Bill Clinton indicated that the foundation would change its name, as well as other changes. | Getty Bill Clinton details Clinton Foundation's future

Bill Clinton announced on Monday that he will step down from the board of the family foundation and no longer raise funds for it, along with several other changes to the organization that will take effect should Hillary Clinton be elected president of the United States.

In a letter sent to supporters, the former president indicated that the foundation would change its name from the "Bill, Hillary & Chelsea Clinton Foundation" to just the "Clinton Foundation," as well as only accept contributions from "U.S. citizens, permanent residents, and U.S.-based independent foundations, whose names we will continue to make public on a quarterly basis."


The Associated Press first reported on the decision-making last week, though Clinton did not issue a statement until Monday — the same day that Republican nominee Donald Trump called on the family to shut down the "corrupt" operation.

"Over the last several months, members of the Foundation’s senior leadership, Chelsea, and I have evaluated how the Foundation should operate if Hillary is elected," Clinton wrote. "Throughout the process, our top priorities have been preserving our most important programs, supporting the people who work for the Foundation and its affiliated programs, and resolving legitimate conflict of interest questions."

Clinton also said he will step down from the board of the Clinton Health Access Initiative.

"We, along with the CHAI Board, are additionally considering a range of options to ensure that its vital work will continue and will announce details soon," Clinton said in the statement.

Acknowledging the "unprecedented" situation of a presidential nominee being a leader of an organization such as the Clinton Foundation, Bill Clinton commented, "Part of what has made the Foundation successful over the last 15 years has been our understanding that solving problems and creating opportunities faster, better, and in the most cost-effective way sometimes means changing course."