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Hartford Selected to Participate in National Job Quality Initiative
Harvard Pilgrim Health Care Foundation Awards Over $2.3M to More Than 900 Organizations in 2017
People's United Community Foundation Awards More Than $1M in Grants to Connecticut Nonprofits
PERSPECTIVE: Access to Healthy Foods: How Far Are You Willing to Go?
Family-Farm Program Expands
NEW HAVEN, CT -- New Haven Farms will expand its incubator farm program this growing season to include locations in the Fair Haven and Hill neighborhoods, bringing an additional 25 families to the project. The program is partially funded by the Harvard Pilgrim Health Care Foundation. “The incubator gardener program grew out of requests from our participants in the farm-based wellness program that they wanted to be more knowledgeable and to have the opportunity to grow their own food after having ...
Blumenthal, Murphy: Save Tax Exemption For Newman's Own Foundation
WESTPORT, CT -- Sens. Richard Blumenthal and Chris Murphy wrote to Senate leadership Wednesday asking that a provision to protect the Westport-based Newman’s Own Foundation from a costly tax bill be included in ongoing federal budget negotiations. When Paul Newman died in 2008, ownership of the actor's ...
Bank of America Announces 2018 Museums on Us® Program
Amity Teen Center Receives Grant >>
An Obscure Tax Law Might Force Newman's Own to Put Itself Up for Sale
WESTPORT, CT -- Newman's Own, the popular purveyor of philanthropic pasta sauce, will be forced to put itself up for sale or pay crushing fines this year due to an obscure provision in the tax code. "It's not a possibility — it's an absolute certainty that we would have to divest," Bob Forrester, chief executive of the Newman's Own Foundation, told CNBC. On Wednesday, Forrester is slated to meet with lawmakers in hopes of a securing a last-minute legislative fix, potentially as part of any deal to fund ...
Chelsea Groton Foundation Gives Over $170K to Area Organizations
Bank of America Names Joe Gianni Market President for Hartford
Bank of America Names Gianni Hartford Region Chief
Person-to-Person Receives Grant from Newman's Own Foundation
NORWALK, CT -- Person-to-Person has received a $10,000 grant from Newman's Own Foundation for the Emergency Assistance Program which provides food, clothing, financial assistance and casework counseling to the working poor and people experiencing a situational crisis.
Webster Bank Hands Out Bonuses, Boosts Philanthropy After Tax Overhaul
Newman's Own Threatened With Punitive Tax After Exemption Nixed From Tax Overhaul
WESTPORT, CT -- Newman’s Own, the Westport food company founded by Paul Newman, faces a crippling tax penalty that threatens the iconic Connecticut’s company’s philanthropic mission. Newman’s Own Foundation owns 100 percent of Newman’s Own food company. The IRS gave the foundation five years to divest from the company. In 2013, it was granted another five-year waiver, which is set to expire in November. When it does, the IRS will levy a 200 percent tax on the foundation’s assets. There are about 25 other charities based on the Newman's Own model, with a for-profit company on one side and a foundation funneling those profits into philanthropy on the other, Forrester said. He plans to return to Washington and redouble his push for a legislative solution. “We’re committed to this, and we’re going to fight for this,” he said. “I think these next six weeks are going to decide things.”
Comcast Employees Participate in Operation Gratitude
BERLIN, CT -- For 10 years now, Comcast employees based in the Western New England headquarters in Connecticut, along with their friends and family, have knitted and crocheted for a cause. This year the group handmade over 260 hats and scarves, most of which were donated to Operation Gratitude, a non-profit organization that distributes care packages to active-duty troops, as well as veterans, wounded heroes and emergency first-responders. Over 2,000 pieces have been made and donated since the campaign began.
Farmington Bank’s 11 Days of Surprise Visits Bring Smiles to Nonprofit Organizations
Glitch In GOP Tax Bill Creates Uncertain Future For Newman’s Own
WESTPORT, CT -- A glitch in the Republican tax overhaul has created an uncertain future for Newman’s Own Foundation and the food company it operates. Under the 1969 tax law, Newman’s Own had five years to divest itself from the business after Newman’s death in 2008, or face a 200 percent tax on its assets. Newman’s Own was able to get congressional support for a waiver to extend that an additional five years. That waiver expires in November 2018.