Congress Passes PATH Act -Enhanced Food Donation Tax Deduction Available to All Companies
(December 23, 2015)
On December 18, 2015, President Obama signed HR 2029 -The Consolidated Appropriations Act, 2016
. Contained in this bill was a provision that made the enhanced deduction for food donations permanently available to non C-corporations – retroactive for contributions made after December 31, 2014
. Previously, only C-corporations could realize the enhanced tax benefit from donating their surplus food. In addition, the bill:
Increased the charitable contributions cap from 10% to 15% of net income for Non-C corporations or taxable income for C-corporations -applicable to taxable years beginning after December 31, 2015.
Allowed non C-corporations a tax deduction carry forward of 5 years, mirroring the treatment of C corporations -applicable to taxable years beginning after December 31, 2015.
Defined the Fair Market Value of Donated Food by taking into account the price for which the item is sold at the time of the contribution without regard to lack of market, internal standards -applicable to taxable years beginning after December 31, 2015.
Provided basis for food donations from businesses using the cash method of accounting (typically identified as “farmers and ranchers”) as 25% of the fair market value -applicable to taxable years beginning after December 31, 2015.
Twitter Chat: Yum! Brands Discusses Global Hunger Relief Efforts
(September 06, 2015)
TriplePundit - Join TriplePundit, Yum! Brands,World Food Programme, and Food Donation Connection on Thursday, October 15th at9am PST / Noon EST at #3pYumChat for a special Twitter Chat about global hungerrelief efforts and World Food Day.
U.S. restaurants are terrible at getting wasted food to the hungry. Can we change that?
(September 02, 2015)
Grist - There are managed programs for restaurants to donate their surplus food.
Surplus Food Donations Overview
(January 25, 2015)
USDA – Presentation on Surplus Food Donations by Jim Larson. Jim directs program development for Food Donation Connection (FDC), LLC.
Donating Wholesome Unsold Food
(November 12, 2014)
Foodtank -- Despite a lot of great efforts from food companies and hunger relief organizations, there is still more food that can be recovered.
National Restaurant Association encourages surplus food donations
(August 30, 2013)
The National Restaurant Association encourages restaurants to give back to their local communities, including through donations of surplus food
Congress Extends Enhanced Tax Deduction For Small Businesses That Donate Surplus Food
(January 02, 2013)
As part of the deal to avert the "fiscal cliff", Congress has extended the enhanced tax deduction
for small businesses that donate wholesome surplus food. The enhanced deduction has been extended to December 31, 2013 and is retroactive to January 1, 2012.
Farragut Company Coordinates Millions of Pounds of Surplus Food
(August 20, 2012)
When they had all had enough to eat, Jesus said to his disciples, "Gather the pieces that are left over. Let nothing be wasted." John 6:12
Something was stirring inside Bill Reighard.
In 1989, the food service executive had returned to the U.S. after running the Asia operations for PepsiCo's Pizza Hut. Yet he felt a call to do something more.
Reighard considered staying in the corporate world and donating a large sum of money to charity; or, he thought, he could quit and donate himself.
The Power of One: Feeding the Multitude
(June 28, 2012)
Imagine this: you’re at the Olive Garden with your family and friends, surrounded by other tables also full of family and friends, enjoying the restaurant’s Italian dinner specialties. But what if no one orders the Chicken Marsala that night?
It used to be that restaurants threw away unused food every night, much of it perfectly good. A terrible waste considering that more than 48 million Americans worry about where their next meal is going to come from--or don’t have enough to feed the family at all.
Making a Difference: Turning excess restaurant food into kids' meals
(April 30, 2012)
By some estimates, up to 40 percent of all edible food goes to waste. One large restaurant chain with 1,900 locations, Darden Restaurants, is doing its part to make sure the leftovers don’t end up in a dumpster
Leftovers from Tampa International Airport food vendors serve new purposes
(February 08, 2012)
Once destined for a landfill, 64 tons of wholesome foods
— sandwiches, fruits, cheeses and yogurt parfaits — now fill needy children's dinner plates. Workers used to toss the prepackaged foods after the 24-hour shelf life at cafes in Tampa International Airport. But the foods remained wholesome for a week.