HARTFORD, Conn., Feb. 23, 2018 /PRNewswire-PRWeb/ -- Today,
Congressman John B. Larson (CT-01)
joined Bob Forrester (President and
CEO, Newman's Own Foundation and Co-chairman of Newman's Own, Inc.)
and Eliot Russman (President, CEO,
and Executive Director, Fidelco Guide Dog Foundation) at the
Fidelco headquarters in Bloomfield
to discuss the recent passing of his bill, the Philanthropic
Enterprise Act, into law and its positive impact for the future of
companies like Newman's Own that donate 100 percent of their
profits to charitable organizations, like the Fidelco Guide Dog
Foundation that serve the blind and blind veterans.
"I want to thank Bob and Eliot for their passion and dedication
to helping others through their organizations. It is the work of
companies like Newman's Own and organizations like Fidelco Guide
Dogs that strengthen our communities. Bob and I first began our
work together in 2009 and when it became clear that it would take a
legislative fix, I worked with my Republican colleague, Congressman
Dave Reichert (R-WA), to introduce
the Philanthropic Enterprise Act in 2012. We are proud that it has
finally become law. This goes to show what can be achieved when
both parties find common ground and get something done for those
who are doing so much to help others. I believe that this
legislation will open doors for other companies that wish to give
more, but have been unnecessarily burdened by the punitive tax
issue that my bill has now fixed," said Larson.
"As I began my efforts in Congress, my very first meeting was
with Congressman Larson on March 25,
2009. Without hesitation he said he would do everything
within his power to save Newman's Own from being broken up, since
it was important for Connecticut
and good public policy in general," said Robert Forrester, President and CEO of Newman's
Own Foundation and Co-chairman of Newman's Own, Inc. "Since that
time Congressman Larson has been indispensable to our efforts to
pass the Philanthropic Enterprise Act. He relentlessly fought for
this legislation that allows Newman's Own to continue its
philanthropic mission in its current structure, as our founder
Paul Newman intended. On behalf of
all businesses that donate 100% to charity, I would like to thank
Congressman Larson for making it possible to continue our work
without the lingering threat of punitive taxes."
"Fidelco Guide Dog Foundation is dedicated to the limitless
potential of its clients; men and women who are blind and who
thrive with their guide dogs in a world that presumes the ability
of everyone to see," said Eliot
Russman, President and CEO of Fidelco Guide Dogs. "Our
success creating these dynamic, life-enhancing partnerships would
not be possible without our dedicated staff and volunteers, and
passionate supporters like Newman's Own Foundation and Congressman
John Larson leading the way."
The Philanthropic Enterprise Act was recently passed as a part
of the Bipartisan Budget Act of 2018 and was signed into law. This
was a terrific win for Connecticut, the country, companies like
Newman's Own, and the charitable organizations that benefit from
philanthropic enterprises. For several years, Congressman Larson
led the effort in the House, along with his colleague Congressman
Dave Reichert (R-WA), to pass
legislation to provide a small technical fix in the tax code to
support, rather than stand as a barrier to, socially-responsible
companies like Newman's Own and the dozens of other philanthropic
businesses they have inspired.
SOURCE Fidelco Guide Dog Foundation Inc.