The Dohmen Company turns into foundation

Freeman Staff

Feb. 22, 2019

MILWAUKEE — The Dohmen Company has completed the transition from a S-corporation to being owned by a private foundation and a nonprofit organization.

The company recently exited the pharmaceutical industry and became the first company in the nation to transition from a multi-generation, family-owned business to a company wholly owned by a private foundation, as of Jan. 1.

The structure, made possible by a provision in the Philanthropic Enterprise Act enacted in 2018 called the “Newman’s Own Exception,” ensures that 100 percent of the profits of The Dohmen Company will be donated to the Dohmen Company Foundation for charitable purposes.

According to the announcement, “While a handful of for-profit companies across the U.S. have made commitments to donate their profits to charitable foundations and nonprofits, such commitments are always at-risk of being abandoned, particularly when company leaders and owners turn over. This new ownership model removes those risks, ensuring all profits are used for charitable purposes in perpetuity.”