Abstract: A container for collecting and storing compostable waste while minimizing offensive odors and the accumulation of insect or other pests near the container by providing specially designed ventilation and drainage. As shown in FIG. 1, the enclosed volume (12) of the bucket-like portion (1) is ventilated by means of a solid ventilation shaft (4) which penetrates the sealable lid (3) and passes air to and from the drainage chamber (7) below the suspended floor (5). Air below the suspended floor (5) circulates through ventilation/drainage holes (6) and the enclosed volume (12) and the contained waste. The circulating air maintains aerobic conditions in the waste thus minimizing offensive odors that would accompany anaerobic conditions. Water is allowed to drain from the waste through the ventilation/drainage holes and collect in the drainage chamber (7) below the suspended floor (5), where it cannot contribute to anaerobic conditions in the waste.