“It started as a joke and got out of control.”
Thirty-six years ago, a homemade salad dressing was created as a holiday gift for friends. Today, that famous salad dressing has launched a household brand name and an innovative business model while being a force for good in the world.
Guided by the principles of “Quality Will Always Trump the Bottom Line” and “100% of Profits Will Go to Charity,” Newman’s Own now has diversified its products to more than 300 different food, beverage and even pet products.
Newman’s Own Foundation is a qualified 501(c)3 charitable organization founded by Paul Newman in 2005 to assure the continuation of his commitment to use 100% of the net profits and royalties from the sale of Newman’s Own food and beverage products for charitable purposes. Since 1982, Paul Newman and Newman’s Own Foundation have donated over $500 million to thousands of charities around the world.
What was once considered a crazy idea with skeptics criticizing its 100% of profits to charity model, Newman’s Own has paved the way for other companies around the country to demonstrate that it is indeed possible to do well in business while also doing good for the world.
Recently, the company’s business and foundation were threatened by a decade’s old tax law.
Listen in as Jeff Brown, the Executive Vice President and Chief Administration Office for Newman’s Own Foundation and Newman’s Own, Inc. talks about the company’s involvement in getting the new Philanthropic Enterprise Act passed and how the Act impacts companies dedicated to giving back.
Jeff also talks about how the notoriously shy and humble Paul Newman became convinced to lend his face and image to his recipe’s brand and how the company connects with consumers who are younger than Paul’s grandkids. Jeff also shares how the company selects new products for the brand and which products are the most popular amongst its employees!