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Target tops Minnesota’s grantmaking list with $146 million in 2011

The Minnesota Council on Foundations releases its list of top grantmakers.

The Minnesota Council on Foundations is out with its annual list of top grantmakers, and the top three on the list all gave more than $100 million.

The rankings, which cover 2011 grants, show the top five:

  • Target Foundation and Corp. ($146.1 million)
  • The McKnight Foundation ($102.9 million)
  • General Mills Foundation and Corp. ($102.7 million)
  • The St. Paul Foundation and Minnesota Community Foundation ($70.3 million)
  • Cargill and The Cargill Foundation ($63.0 million)

MCF officials said this is the first time the top three givers have each given over $100 million.

Bill King, MCF president, said: “And cash giving by the top 50 grantmakers totaled more than $1 billion, indicating that despite the slow economic recovery, philanthropy in Minnesota continues to be a significant and ongoing source of support for nonprofits and the community.”

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Forty-four of the top 50 were on the 2010 list, and those 44 increased their giving by 10 percent.

“The 10-percent increase in grant dollars paid by top grantmakers is great news for our state’s nonprofits and its residents,” King said. “Since grantmakers tend to base grants paid on multi-year averages of previous asset levels, we can see the impact of the deep downturn in 2008 and 2009 starting to tail off.”

The group organized its rankings by: