Target Foundation
Looking for Target grants for nonprofits? Target Foundation is Target's company-sponsored foundation, and this page covers the grants it reports to the IRS on Form 990-PF.
Target Foundation is a private foundation based in Minneapolis, Minnesota. It is a separate 501(c)(3) entity that supports economic opportunity and shared prosperity in its hometown, nationally and globally, with an emphasis on helping families and communities build the resources to shape their own futures.
Target Foundation at a glance
In short: Target Foundation gave $23.1M across 125 grants in 2025 (avg $185K), top state Minnesota. 13% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $23,075,000
- -15.3% vs 2024
- Grants made (2025)
- 125
- -9.4% vs 2024
- Average grant
- $184,600
- -6.5% vs 2024
- Median grant
- $100,000
- Total assets
- $73,909,184
- -20.3% vs 2024
- New grantees (estimate)
- 13% first-time grantees (16 of 123, 2025)
- Primary geography
- Minnesota (43% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Target Foundation
- Invitation Only
-
The foundation’s national program is invitation-only. Its 2024 filing directs organizations to its focus areas for application materials, deadlines, and award restrictions. The website states that the 2026 Hometown grant cycle is closed and advises checking back in Spring 2027 for the next cycle.
- Contact
Application contact: Target Foundation
Mailing address: PO Box 1455, Minneapolis, MN 55440
Phone: (612) 761-9219
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Target Foundation
Who Target Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was CAF America ($1.5M across 3 grants). Together the top 10 received $8.6M.
Grant Size Distribution
1,002 grants across all recorded years
The most common grant size was under $50K: 365 grants of 1,002 (36%).
Geographic Focus
Where this funder awards grants
The foundation describes its work across its Twin Cities hometown, the United States, and emerging economies around the world. In 2025, the largest shares of grant dollars by recipient state were Minnesota (43%), New York (17%), California (11%), Virginia (7%), and the District of Columbia (7%).
Grant Distribution by State
Share of 2025 grant dollars across all 125 itemized grants.
States
Cities
Is Target Foundation open to new grantees?
13%
first-time grantees, 2025
In 2025, 16 of 123 grantees (13%) were first-time recipients. First grants averaged $314K; repeat grants $169K. How we count
Medians: $250K first-time, $100K repeat.
- 60% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−2%). Method
- In 2025 it paid out 544% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $23.1M (2025) to $29.8M (2021). In 2025 it made 125 grants totaling $23.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| CAF America Alexandria, VA | Economic Opportunity - Global | $1,000,000 |
| Co-Impact Philanthropic Funds Inc New York City, NY | Economic Opportunity - Global | $1,000,000 |
| Issara Institute Inc Vaughn, WA | Economic Opportunity - Global | $1,000,000 |
| Peoples Courage International Inc Washington, DC | Economic Opportunity - Global | $1,000,000 |
| The Acumen Fund Inc New York, NY | Economic Opportunity - Global | $1,000,000 |
| Common Future San Francisco, CA | Economic Opportunity - National | $750,000 |
| First Nations Development Institute Longmont, CO | Economic Opportunity - National | $750,000 |
| Policylink Oakland, CA | Economic Opportunity - National (Ecosystem) | $600,000 |
| Earn Inc San Francisco, CA | Economic Opportunity - National | $500,000 |
| Mission Asset Fund San Francisco, CA | Economic Opportunity - National | $500,000 |
Ready to take the next step with Target Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $73,909,184 | $2,775,406 | $25,169,784 | $23,075,000 | 125 | $23,075,009 | $2,717,914 | $4,243,992 |
| 2024 | $92,692,164 | $57,393,098 | $26,443,749 | $27,255,000 | 138 | $27,258,531 | $1,342,866 | $2,745,961 |
| 2023 | $61,121,764 | $933,259 | $25,974,314 | $25,070,608 | 144 | $25,374,034 | $933,259 | $3,803,565 |
| 2022 | $85,335,634 | $55,020,175 | $22,595,900 | $23,492,025 | 265 | $24,495,488 | $20,175 | $3,863,624 |
| 2021 | $53,812,054 | $65,816,811 | $22,178,345 | $29,819,197 | 330 | — | $66,811 | $1,029,318 |
Under IRS private-foundation payout rules, Target Foundation reported a distributable amount of $4.2M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s mission is to enable efforts that empower people and communities to pursue joy in everyday life. Its stated desired outcome is for all families and communities to have the resources they need to determine and realize their own joy.
In the Twin Cities and Minnesota, the foundation identifies entrepreneurship and small business, workforce development, housing, and asset building as priority areas. Nationally, it supports workforce development and financial resilience and inclusion; national investments are by invitation only. Globally, its stated focus is improving families’ economic opportunities so they can sustain themselves and their communities long-term.
Examples of 2025 grantees illustrate the kinds of organizations it has supported. Co-Impact describes itself as a global philanthropic organization supporting systems change in health, education, and economic opportunity. First Nations Development Institute says it works to improve economic conditions for Native Americans through technical assistance, training, advocacy, policy, and grants. Mission Asset Fund describes its mission as helping people become visible, active, and successful in their financial lives.
Grantmaking
In 2025, the foundation reported 125 grants totaling $23,075,000. Grants ranged from $15,000 to $1,000,000, with a median of $100,000. Among the largest awards were $1,000,000 each to CAF AMERICA, Co-Impact Philanthropic Funds, Issara Institute, People’s Courage International, and The Acumen Fund, all for global economic opportunity. Other notable awards included $750,000 to Common Future and First Nations Development Institute, and $600,000 to PolicyLink, for national economic opportunity work.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Kiera Fernandez as president and chair; Bill Foudy and Dexter Newman as trustees; Dave Donlin as secretary; Janine Brown as assistant treasurer; Pam Tomczik as treasurer; and Amanda Vela and Sousan Ortega as trustees.
Target Foundation is led by Kiera Fernandez, President & Chair on every filing since 2024; none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Kiera Fernandez
President & Chair
On filings since 2024
1 hr/week
No compensation reported
Bill Foudy
Trustee
On filings since 2021
0.3 hrs/week
No compensation reported
Dexter Newman
Trustee
On filings since 2021
0.3 hrs/week
No compensation reported
Amanda Vela
Trustee
New on the 2025 filing
0.3 hrs/week
No compensation reported
Sousan Ortega
Trustee
New on the 2025 filing
0.3 hrs/week
No compensation reported
Dave Donlin
Secretary
On filings since 2021
0.1 hrs/week
No compensation reported
Janine Brown
Assistant Treasurer
On filings since 2021
0.1 hrs/week
No compensation reported
Pam Tomczik
Treasurer
On filings since 2023
0.1 hrs/week
No compensation reported
Former officers (5)
- Former: Amanda Nusz (2021–2024) — President & Chair
- Former: Dan Fleming (2021–2024) — Assistant Treasurer
- Former: Yu-Ping Kao (2021–2024) — Trustee
- Former: Corey Haaland (2021–2023) — Treasurer
- Former: Rick Gomez (2021) — Chair & Trustee
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Target Foundation
How much does Target Foundation give each year?
Target Foundation gave $23.1M across 125 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $27.3M across 138 grants.
What is Target Foundation's typical grant size?
Target Foundation's median grant in 2025 was $100,000, and its average grant was $184,600, across 125 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Target Foundation that year got $314K on average.
Where does Target Foundation give grants?
Target Foundation's top state is Minnesota, with 43% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were New York (17%) and California (11%). The most frequent recipient cities were Minneapolis, MN (49 grants), Saint Paul, MN (37 grants), New York, NY (5 grants) and San Francisco, CA (3 grants).
Does Target Foundation give general operating support?
Not in 2025: none of the 125 grants with a stated purpose on Target Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Economic Opportunity - Hometown" (84 grants), "Economic Opportunity - National" (17 grants) and "Economic Opportunity - Hometown (Ecosystem)" (12 grants).
Who are Target Foundation's largest grantees?
Target Foundation's largest 2025 grantees include CAF America ($1,500,000 across 3 grants), Co-Impact Philanthropic Funds Inc ($1,000,000) and Issara Institute Inc ($1,000,000), according to its 2025 IRS Form 990-PF. Together they received 15% of its itemized 2025 grant dollars.
How large is Target Foundation?
Target Foundation reported $73.9M in total assets on its 2025 IRS Form 990-PF. It paid out $23.1M in qualifying distributions that year, against a required minimum of $4.2M (roughly 5% of its investment assets).
What does Target Foundation fund?
The foundation’s mission is to enable efforts that empower people and communities to pursue joy in everyday life. Its stated desired outcome is for all families and communities to have the resources they need to determine and realize their own joy. See mission & focus areas ↑
How do I apply for a grant from Target Foundation?
The foundation’s national program is invitation-only. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Target Foundation's EIN?
Target Foundation's EIN (Employer Identification Number) is 41-6017088. IRS Form 990 filing data is available on this page for 2021–2025.
Does Target give grants to nonprofits?
Yes. Target Foundation, Target's company-sponsored foundation, awarded 125 grants totaling $23.1M in 2025, according to its IRS Form 990-PF. Target may also give through corporate programs that are not reported on the foundation's 990.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS January 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 29, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 30, 2023)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS December 5, 2024)
- Added Form 990-PF for fiscal year 2025 (received by the IRS December 11, 2025)
- IRS filings on file for fiscal years 2021–2024
Explore Open Grants
Browse active grant opportunities in Target Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Target Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/target-foundation-morg_1e040adea2054aa3a67bacaae80ee29b
BibTeX
@misc{grantable_416017088_2026,
author = {{Grantable}},
title = {{Target Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/target-foundation-morg_1e040adea2054aa3a67bacaae80ee29b},
note = {Accessed 2026-10-10. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Target Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Target Foundation down — hundreds of funders to go?