Target tops list of top grantmakers in Minnesota

 The Target Foundation and Corp. made $131 million in grants last year, topping the list of state grant makers as compiled by the Minnesota Council on Foundations.

The rest of the top five:

  • The McKnight Foundation, $96.7 million
  • General Mills Foundation and Corp., $87.7 million
  • Greater Twin Cities United Way, $65.7 million
  • Cargill and The Cargill Foundation, $61.1 million

The rankings were changed a bit this year, with “public charity grantmakers that make competitive grants” included for the first time. That group includes the United Way, which shows up fourth on the list.

“Including the United Way creates a more inclusive picture of giving in Minnesota,” said Bill King, MCF president. “United Ways and other public charities that give competitive grants, like community foundations, receive individual and corporate contributions and make gifts to nonprofits from the funds.”

Forty-five of the top 50 grant makers were also on the list last year; grants from those 45 decreased by 2 percent over the previous year, but they gave 1 percent more to Minnesota-based organizations.

“Cash giving by Minnesota’s top 50 grantmakers still totals more than $1 billion,” King said. “And the slight increase in dollars staying within our state demonstrates the stability of philanthropic support for Minnesota nonprofits. Looking ahead we’re encouraged by the improvement in top grantmakers’ asset values. This bodes well for grantmaking levels in 2011 and beyond, as grantmakers tend to base grants paid on multi-year averages of past asset levels.”

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