And to celebrate what would have been company founder Paul Newman ’s 100th birthday on Jan. 26, the Newman's Own Foundation is inviting others to join them in that commitment, as part of the 100% for Purpose Club.
The company lobbied for the legislation for years because after Newman's death, they found themselves in a bit of dilemma, said Celia Roady, a partner at Morgan Lewis and an attorney for Newman’s Own Foundation.
The promise is not new, but still hard for many to believe: 100% of profits from the sale of Newman’s Own foods, like salad dressings, pasta sauce and popcorn, are donated to charity.
An Australian company, Humanitix, also donates 100% of their profits from selling event tickets to charity and is the second founding member of The 100% for Purpose Club.
In a TED talk released Thursday, Alex Amouyel, the foundation’s CEO and president, made the case for why more for-profit companies should donate all of their profits to social causes.
