Collector Victor Pinchuk’s $150,000 Gift Revealed in New Trump Foundation Filing

Pinchuk's foundation gave Trump's foundation a hefty gift.

Vice president-elect Mike Pence and president-elect Donald Trump in 2016. Photo by Drew Angerer/Getty Images.

David A. Farenthold in the Washington Post reports that president-elect Donald Trump’s charitable foundation has finally admitted to the IRS that it “violated a legal prohibition against ‘self-dealing.’” The Post also alleges that Trump used money donated to the tax-exempt Donald J. Trump Foundation to settle several lawsuits and to purchase art and memorabilia at charity auctions.

During the presidential campaign, the Post reported on several instances where Trump appears to have used non-profit Trump Foundation money to help himself and his for-profit businesses. To these now documented instances can be added three occasions in which the Trump Foundation may have purchased art and memorabilia for Trump’s home or businesses.

According to a 2015 tax filing submitted to the nonprofit watchdog group Guidestar and posted online Tuesday, the Trump Foundation acknowledged that it paid $12,000 in 2012 for a football helmet signed by then-Denver Broncos quarterback Tim Tebow; $20,000 for a six-foot portrait of Trump by “speed painter” Michael Israel; and another $10,000 for a second portrait of The Donald by by artist Havi Schanz.

Earlier this month, when speculation swirled as to the location of Israel’s Trump portrait, the artist posted an image of the painting on his website. In a subsequent blog post, Israel congratulated Trump on the purchase but chided him for his alleged self-dealing:

“In the event, you did hang the painting in your home. 1. WOW! Thanks for the compliment! I have more for sale. If you kept it for yourself, you need to put $20K back in the foundation.”

In the same recent filing, the Trump Foundation reported a $150,000 gift from billionaire collector Viktor Pinchuk’s foundation. The Ukrainian steel magnate also donated to the Clinton Foundation. During the presidential race Hillary Clinton faced substantial scrutiny about potential conflicts of interest connected to donors to her family foundation.

Follow Artnet News on Facebook:

Want to stay ahead of the art world? Subscribe to our newsletter to get the breaking news, eye-opening interviews, and incisive critical takes that drive the conversation forward.


Subscribe or log in to read the rest of this content.

You are currently logged into this Artnet News Pro account on another device. Please log off from any other devices, and then reload this page continue. To find out if you are eligible for an Artnet News Pro group subscription, please contact [email protected]. Standard subscriptions can be purchased on the subscription page.

Log In