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
Among its reported 2024 grants, the largest include Caf America ($1,000,000), Caf America ($995,000), Caf America ($750,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ACCESSABILITY INC MINNEAPOLIS, MN | ECONOMIC OPPORTUNITY - HOMETOWN | $50,000 |
| AEON MINNEAPOLIS, MN | ECONOMIC OPPORTUNITY - HOMETOWN | $100,000 |
| ALLIANCE FOR METROPOLITAN STABILITY MINNEAPOLIS, MN | ECONOMIC OPPORTUNITY - HOMETOWN (ECOSYSTEM) | $150,000 |
| AMERICAN INDIAN OIC INC MINNEAPOLIS, MN | ECONOMIC OPPORTUNITY - HOMETOWN | $175,000 |
| AMHERST H WILDER FOUNDATION ST PAUL, MN | ECONOMIC OPPORTUNITY - HOMETOWN (ECOSYSTEM) | $50,000 |
| APPETITE FOR CHANGE INC MINNEAPOLIS, MN | ECONOMIC OPPORTUNITY - HOMETOWN | $75,000 |
| ASHOKA INNOVATORS FOR THE PUBLIC ARLINGTON, VA | ECONOMIC OPPORTUNITY - GLOBAL (ECOSYSTEM) | $300,000 |
| ASIA FOUNDATION SAN FRANCISCO, CA | ECONOMIC OPPORTUNITY - GLOBAL | $600,000 |
| ASIAN ECONOMIC DEVELOPMENT ASSOCIATION SAINT PAUL, MN | ECONOMIC OPPORTUNITY - HOMETOWN | $150,000 |
| ATLANTA WEALTH BUILDING INITIATIVE INC ATLANTA, GA | ECONOMIC OPPORTUNITY - NATIONAL | $250,000 |
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 recipientFrequently Asked Questions
What does Target Foundation fund?
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)** • Ad…
How do I apply for a grant from Target Foundation?
**Grant Sizes & Range** • Hometown program: $25,000 to $200,000 • Other programs: up to $1,500,000 • Average grant amount: $182,000 • Median grant: $100,000 • Individual grants have ranged from $20,000 to $1,500,000 **Application Process** • Investments through national and global programs are made by invitation only • Hometown program application details available at corporate.target.com/corporate-responsibility/philanthropy/target-foundation • Decision time: up to 45 days once approved **Rece…
Where does Target Foundation make 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.
What size grants does Target Foundation award?
In 2024, Target Foundation awarded 138 grants totaling $27.3M — an average of about $198K per grant, based on its IRS Form 990 filings.
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 2021–2024.
Explore Open Grants
Browse active grant opportunities in Target Foundation's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Saint Paul & Minnesota Foundation
ST PAUL, MN
Assets
$1.6B
Grants
1,445
Total Given
$192.6M
The Minneapolis Foundation
MINNEAPOLIS, MN
Assets
$1.2B
Grants
1,565
Total Given
$121.7M
The McKnight Foundation
MINNEAPOLIS, MN
Assets
—
Grants
790
Total Given
$145.9M
Otto Bremer Trust
ST PAUL, MN
Assets
—
Grants
883
Total Given
$68.5M
Charities Aid Foundation America
ALEXANDRIA, VA
Assets
$444.9M
Grants
10,157
Total Given
$466.3M
Fr Bigelow Foundation
ST PAUL, MN
Assets
$180.8M
Grants
218
Total Given
$7.9M
The Blackbaud Giving Fund
CHARLESTON SC, SC
Assets
$52.7M
Grants
1,860
Total Given
$41.4M
Mightycause Charitable Foundation
MARIANNA, FL
Assets
$6.6M
Grants
3,309
Total Given
$82.3M
Vanguard Charitable Endowment Program
SOUTHEASTERN, PA
Assets
$22.2B
Grants
24,269
Total Given
$3.0B
National Philanthropic Trust
JENKINTOWN, PA
Assets
$42.2B
Grants
18,583
Total Given
$5.1B
Xcel Energy Foundation
MINNEAPOLIS, MN
Assets
—
Grants
1,820
Total Given
$7.7M
Pohlad Family Foundation
MINNEAPOLIS, MN
Assets
—
Grants
372
Total Given
$14.1M
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Target Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities