ETHICS/TREASURY/TRUMP BUSINESS: “The Trump Organization said Friday [3-9-18] it donated about $150,000 to the U.S. Treasury last month, an amount the company said represented its 2017 profits from foreign governments.
George Sorial, executive vice president of the Trump Organization, said in a statement the donation was ‘voluntary’ and ‘fulfills our pledge to donate profits from foreign government patronage at our hotels and similar business during President Trump’s term in office.’
The company said it calculated that amount ‘in accordance with our policy and the Uniform System of Accounts for the Lodging Industry,’ but declined to provide any further details on what its policy entails and how the company was tracking which guests’ stays were being paid for by foreign governments… Hotels rarely if ever attempt to calculate profits based on individual stays, hotel industry experts say… The company said last month it had made the donation to the Treasury, but declined to disclose the $151,470 amount, spurring criticism from ethics experts and transparency advocacy groups. The Daily Mail first reported the size of the donation on Friday.
The closely held Trump Organization doesn’t file earnings report, but some details of its finances have become public, through company documents and Mr. Trump’s own financial disclosures. Its Trump International Hotel in Washington brought in about $18 million in revenue in the first four months of last year, according to company documents. The hotel made a profit of nearly $2 million during that time period after paying rent and other expenses, according to the documents, which were filed with the General Services Administration.”
-Rebecca Ballhaus, “Trump Organization Says Profits From Foreign Governments Totaled $151,470,” The Wall Street Journal online, Mar. 9, 2018 03:14pm