President Trump is shutting down the Donald J. Trump Foundation, NBC News reports. The foundation came under great scrutiny during the presidential campaign for unusual practices, and afterward as a source of potential conflicts of interest.

After a Washington Post report, the foundation acknowledged last year in IRS paperwork that it had violated a prohibition against "self-dealing." Trump pledged in December to shut it down.

Trump's December statement: "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. 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."