Newman's Own Foundation Reaches Milestone of $500 Million to Charity
Newman's Own Foundation, founded by the late actor and philanthropist Paul Newman, today announced that it reached the milestone of donating a total of $500 million to charity since Newman's Own started in 1982.
The company is celebrating its 35th anniversary, and achieving this milestone during a special anniversary year helps punctuate the impact of Paul Newman's legacy. He launched the company with his homemade recipe salad dressing, declaring that 100% of the profits would go to charity. To date, more than 7,600 charities have received grants, and millions of people around the world have been helped.
"When Paul started Newman's Own 35 years ago, some people wondered if the company could survive if it gave all its profits away, but after three and a half decades, we're proud to continue his legacy and reach a half-billion dollars in donations," said Bob Forrester, President and CEO of Newman's Own Foundation and Co-Chairman of Newman's Own. "Paul would be especially pleased to see how much the company has grown and how much positive impact it has had helping charities around the world. And he would be gratified to see a new generation of employees embrace the same values he established long ago, using these core values as an anchor and inspiration to carry on his philanthropic work."
In the first full year when Newman's Own started, there was one product, and $300,000went to charitable organizations. Today, the company has more than 300 products, and approximately $30 million is donated each year...