(CNN) - 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.
His non-profit organization was first established in 2017, after Biden left his post as vice president, and focuses on issues like LGBTQ equality, ending violence against women and supporting military families.
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.
Several 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.
It's unclear at this time if any of the foundation staff might join a Biden campaign or if any of the programs the foundation works on might be continued elsewhere.
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