The Biden Foundation, the charitable organization of Joe and Jill Biden, plans to suspend operations after the former vice president's expected 2020 campaign launch, a source familiar with the plans confirms to CNN
The suspension, which was first reported by the New York Times, will be followed by a wind-down period for the foundation to deal with administrative and operational issues, including its work with other partners.Biden is expected to formally announce his presidential bid this week, people close to the former vice president said.
The wind-down period is initially estimated to take roughly 30 days, but could extend longer if there are further administrative items to address. Once the foundation suspends its operations, it would stop taking donations, the source said.Read MoreSeveral of Biden's longtime allies and political advisers are part of the foundation, including his former chief of staff Ted Kaufman, who is the board chairman, and his sister Valerie Biden Owens, who is vice chairwoman of the board.
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