Target Foundation
Target Foundation is the philanthropic arm of Target Corporation, based in Minneapolis, Minnesota. Founded in 1918 and renamed from the Dayton Foundation in 2000, the foundation operates as a private grantmaking foundation with a legacy of over 100 years of community support. The foundation distributes an amount equal to five percent of Target Corporation's federally taxable income annually—a commitment maintained since 1946.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$27.3M
+8.7% YoY
Grant Count
138
-4.2% YoY
Avg Grant Size
$198K
+13.4% YoY
Mission & Focus Areas
Target Foundation envisions a world where all families and communities have the resources they need to determine and realize their own joy in life. The foundation is committed to enabling shared prosperity and opportunity by upholding belonging and inclusion for all communities, with a focus on expanding economic opportunity and centering the voices and leadership of individuals and communities.
The foundation operates through three strategic pillars:
Hometown (Twin Cities & Minnesota)
- Advancing economic opportunity for underserved and under-resourced communities
- Special emphasis on entrepreneurship, workforce development, housing, and asset building
- Promoting equity for all with a focus on shared prosperity
National
- Building financial stability and empowerment for families and communities
- Workforce development: equipping individuals with limited income with support, resources, and opportunities for mobility
- Financial resilience and inclusion: supporting low-income workers and families in attaining financial stability and security
Global
- Improving economic opportunities for families around the world
- Supporting sustainable livelihoods in emerging economies
Grantmaking
Grant Range
s & Range**
Average Grant
amount: $182,000
How to Apply
**
Ready to take the next step with Target Foundation?
Geographic Focus
Where this funder awards grants
The foundation concentrates grantmaking in Minnesota, with particular emphasis on the Twin Cities 7-County Metro Area for hometown programs. Primary funding regions include Minnesota, New York, and California, which account for 85% of all grants. The foundation also supports organizations in numerous other states including Arizona, Colorado, Illinois, Texas, Washington, and others, as well as emerging economies globally.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $92.7 million (2024); $73.9 million (earlier reporting period)
- Annual Income: $2.8 million
- Total Giving (2024): $27.3 million
- Total Giving (2023): $50.1 million
- Total Expenses: $26.4 million
- Revenue: $57.4 million
- Asset Growth: Assets have grown from $18.6 million in 2010 to $92.7 million in 2024
Tax Status
- Tax-exempt since December 1928
- EIN: 41-6017088
- Contributions are tax-deductible
- Required to file IRS Form 990-PF
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
200 grants across all recorded years
Open Grants
2 open opportunities from Target Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- President & Chair: Kiera Fernandez
- President: Amanda Nusz
- The foundation is governed by 9 officers and trustees
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KIERA FERNANDEZ | PRESIDENT & CHAIR (BEG 11/23) | 1 | — |
| BILL FOUDY | TRUSTEE | 0.25 | — |
| DAN FLEMING | ASST TREASURER (END 07/23) | 0.05 | — |
| DAVE DONLIN | SECRETARY | 0.05 | — |
| DEXTER NEWMAN | TRUSTEE | 0.25 | — |
| JANINE BROWN | ASSISTANT TREASURER | 0.05 | — |
| PAM TOMCZIK | TREASURER | 0.05 | — |
| YU-PING KAO | TRUSTEE (END 04/23) | 0.25 | — |
| AMANDA NUSZ | PRESIDENT & CHAIR (END 11/23) | 1 | — |
Recent News & Activity
Recent developments and announcements
Target Foundation has been active in major community initiatives, including participation in the GroundBreak Coalition—a coalition of 40+ civic, corporate, and philanthropic leaders mobilizing $5.3 billion over the next decade to fuel homeownership, small business, and commercial development in under-resourced communities across the Twin Cities region.
Target Foundation revamps funding priorities for Minnesota nonprofitsThe foundation has awarded grants to Twin Cities nonprofits promoting racial equity and has made grants to nonprofits across the country, including a 2025 grant to a Tulsa-based nonprofit recipient.
Target selects Tulsa-based nonprofit as grant recipientRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Target Foundation on Grantable?
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