Target Corp. gave nearly $134 million in grants, corporate giving and program-related investments in 2009; about $26 million of that was spent in Minnesota.
The McKnight Foundation paid the most in Minnesota — $73 million. It was second in overall giving, with $109 million.
Third on the list is the General Mills Foundation and Corp., with about $79 million total and $16.7 in Minnesota.
New to the rankings in 2009 is the newly formed Margaret A. Cargill Foundation, which reported assets of $1.9 billion, slightly larger than The McKnight Foundation, which previously topped the assets rankings.
The Margaret A. Cargill Foundation appears 26th on the list of grantmakers by grants made, though, because nearly $1.7 billion of its assets are still held by the estate and are not yet available for grantmaking.
Forty-one of the top 50 givers for 2009 were also in the top 50 in 2008. But the overall giving for those 41 was down 3 percent.
“While there is some slight shifting of where grantmakers appear in the rankings compared to 2008, overall, cash giving by the top grantmakers still totals more than $1 billion,” says Bill King, MCF president. “Philanthropy in Minnesota continues to be a significant — and stable — source of support for nonprofits.”
King said that 3 percent drop in grants paid in 2009 involved a residual effect of a “significant drop in assets” during 2007 and 2008.
“As we look ahead, we’re encouraged that the top grantmakers’ overall asset values rebounded as the market began to recover. This could bode well for grantmaking levels in 2010 and beyond,” King said.
The annual rankings has five categories:
- Top 50 Minnesota Grantmakers by Grants Paid
- Top 50 Minnesota Grantmakers by Assets
- Top 25 Minnesota Corporate Grantmakers
- Top 25 Minnesota Private Foundations
- Top 25 Minnesota Community and Public Foundations.