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.
HARETFORD, CT -- Already squeezed by the state’s persistent budget woes, nonprofits in Connecticut are bracing for a potential drop-off in donations due to changes in the sweeping tax bill that President Donald Trump signed into law last week. The Hartford Courant includes quotes from CCP President Karla Fortunato and CCP members: Rick Porth of United Way of Connecticut, and Sally Weisman and Deborah Rothstein of Hartford Foundation for Public Giving.
WESTPORT, CT -- Newman's Own Foundation is facing a very stiff tax penalty that could cause it to sell off its ownership in the food conglomerate that shares its name or even disband altogether if a provision in the tax reform bill currently being deliberated is not included.
WASHINGTON, DC -- A decision by the Senate’s parliamentarian could force the sale of the late actor Paul Newman’s food company, and dismantle his charity.
WASHINGTON, DC -- Christine Stuart, the editor of CT News Junkie, a popular blog about Connecticut’s politics and public policy, reports on how community-based nonprofits are adjusting to recent state budget cuts, following years of underfunding. Mentioned in the article are the results of Connecticut Council for Philanthropy's member survey and Hartford Foundation for Public Giving's planned to offer $1 million to help nonprofit organizations adjust to Connecticut state budget cuts.
WASHINGTON, DC — More than 250 philanthropy leaders from across the nation, including five representing Connecticut philanthropy, are gathering on Capitol Hill starting today to urge lawmakers to value and strengthen charitable giving in America. Their meetings are part of Foundations on the Hill, a multi-day event presented by the Forum of Regional Associations of Grantmakers in partnership with the Council on Foundations and the Alliance for Charitable Reform.