From NPQ: The Newman’s Own Philanthropic Exception Is Now Law—What Will the Consequences Be?

[Lee Cruz]

The Newman’s Own Philanthropic Exception Is Now Law—What Will the Consequences Be?

By  ROB MEIKSINS | March 30, 2018 

March 27, 2018; WealthManagement.com

February was a good month for the Newman’s Own Foundation. On February 1^st, the foundation announced with some fanfare the milestone of having donated $500 million to charities over 35 years. A few days later, February 9^th, President Trump signed into law, as part of the Bipartisan Budget Act of 2018, the Philanthropic Enterprise Act of 2017, also known as the Newman’s Own Exception, ending a long struggle to avoid what would have amounted to a 200-percent tax hit...

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