As Tax Deadline Looms, Newman’s Own Marks $500M Milestone

NORWALK, CT -- Newman’s Own Foundation has reached the milestone of $500 million in donations since 1982, when the late actor Paul Newman began selling salad dressing and devoting profits to charities. But the foundation is inching closer to a self-proclaimed April deadline at which point it has indicated it could begin the process of soliciting buyers for the operating company that has been the engine that generates its funds. That would happen if Congress does not create an exemption for huge excise taxes it faces under the new Tax Cuts and Jobs Act.