Target Foundation

Private foundation · EIN 41-6017088 · since 1928corporate.target.com/about/purpose-history/communities/target-foundation·Minnesota, United States·Updated 13 October 2026

At a glance

$23.1M

Annual giving, 2024 tax year

From the Form 990-PF filing

$25,000 to $400k

Grant range

From grants in the 990-PF filings

$100k

Typical grant (median)

125 grants in the latest filing

Open to applications

A mix of rolling and fixed deadlines · unsolicited applications welcome

Key takeaways

Target Foundation is based in Minneapolis, MN and gives with a stated priority to Minnesota, within the U.S. Its Hometown programme, which covers entrepreneurship and small business, workforce development, housing and asset building for underserved communities in the Twin Cities and Minnesota, is the one open to applications, run on a cycle, while its National and Global programmes are invitation-only, so a small nonprofit should look to Hometown and check the relevant focus area for its process rather than approach National or Global directly.
For size of ask, aim modest: the median grant was $100,000, half of its 407 grants were $100,000 or less, and typical grants ran $25,000 to $400,000, though the largest grant was $1,500,000.
With 69% of grant dollars going to organisations it had already funded in the prior two filings, this looks like a relationship-led funder where repeat partners take the lion's share of dollars, so new applicants should expect it to be competitive and may need patience and a strong fit with the stated priority on organisations proximate to and reflective of the communities they serve.

Overview

Target Foundation is a US private foundation based in Minneapolis, MN.

What they fund

Profile derived from the foundation's IRS Form 990-PF filings (TY2024, TY2023, TY2022) and its website, with every statement checked against those sources. Sources read on 7 October 2026.

Priority Areas

Target Foundation’s grantmaking advances shared prosperity through hometown, national and global programmes. In the Twin Cities and Minnesota, it supports organisations addressing barriers facing underserved and under-resourced communities through entrepreneurship and small business, workforce development, housing and asset building. Nationally, it invests in organisations serving communities through workforce development and financial resilience and inclusion for working people and their families. Globally, it supports organisations building the capacity of people and communities to create sustainable livelihood opportunities and long-term prosperity for families in emerging economies, including financial access and community empowerment. Across its work, it prioritises organisations proximate to and reflective of the communities they serve, and seeks to enable communities to determine their own futures and create belonging.

Themes

Entrepreneurship and small business
Workforce development
Housing
Asset building
Financial resilience and inclusion
Community empowerment
Economic opportunity

Geographic Focus

Priority: Minnesota; the U.S.

How to apply

The National and Global programmes are invitation-only. Hometown has an application cycle; applicants are directed to the relevant focus area for its specific process, but the page text read does not set out Hometown submission steps.

Application success factors

Repeat giving: In its TY2024 filing, 69% of its grant dollars to organisations went to organisations it had also funded in its TY2022 or TY2023 filing.
Grant size: Across its TY2022, TY2023 and TY2024 filings, half of its 407 grants to organisations were $100,000 or less.

What the foundation says:

The Foundation prioritises organisations that are proximate to and reflective of the communities they serve.
The Foundation seeks grantmaking that enables communities to determine their own future and helps create belonging for all.

Where grants go

From grants to organisations in the foundation’s filings for tax years 2022–2024.

Grant dollars by state

Minnesota43%

New York13%

California12%

Virginia9%

District of Columbia8%

Colorado4%

6 other states: 8%

Outside the US or with no state on the filing: 4%

The largest single recipient received 7% of grant dollars to organisations.
In tax year 2024, 69% of grant dollars went to organisations Target Foundation had funded in earlier filings.
No grants were paid directly to organisations outside the US.
15% of grant dollars went to intermediaries that regrant to other organisations.

Grants

125 grants in the latest filing analysed · median $100k

How much do they typically give?

Share of 125 grants in tax year 2024 by size

$10k–$25k1%

$25k–$50k8%

$50k–$100k32%

$100k–$250k37%

$250k–$500k13%

$500k–$1M6%

$1M and over4%

Median $100k (tax year 2024)

The largest grants to organisations in the foundation’s latest filing:

Caf America · Economic opportunity - global
$1,000,0002024 tax year
Peoples Courage International Inc · Economic opportunity - global
$1,000,0002024 tax year
Co-Impact Philanthropic Funds · Economic opportunity - global
$1,000,0002024 tax year
Acumen Fund · Economic opportunity - global
$1,000,0002024 tax year
Issara Institute · Economic opportunity - global
$1,000,0002024 tax year
Common Future · Economic opportunity - national
$750,0002024 tax year
First Nations Development Institute · Economic opportunity - national
$750,0002024 tax year
PolicyLink · Economic opportunity - national (ecosystem)
$600,0002024 tax year

Grants to organisations listed in the foundation’s Form 990-PF filings. Grants to individuals are not shown.

Officers and directors

Sousan Ortega — Trustee (Beginning 03/24)
Amanda Vela — Trustee (Beginning 05/24)
Pam Tomczik — Treasurer
Janine Brown — Assistant Treasurer
Dexter Newman — Trustee
Dave Donlin — Secretary
Bill Foudy — Trustee
Kiera Fernandez — President & Chair

From the latest Form 990-PF filing

3 years of tax filings

Year	Total expenses	Grants paid	Assets	Filing document
2022 tax year	$25,974,314	$25,370,608	$61,121,764	Filing for 2022 tax year
2023 tax year	$26,443,749	$27,255,000	$92,692,164	Filing for 2023 tax year
2024 tax year	$25,169,784	$23,075,000	$73,909,184	Filing for 2024 tax year

Figures from the foundation’s IRS Form 990-PF filings. Assets are at fair market value at year end. The document icon links to each year’s filing on ProPublica Nonprofit Explorer.