In Foundations

Micronews on philanthropy.

Target To Keep Giving

From MPLS Star Tribune:

“Target Corp. intends to continue giving 5 percent of its pre-tax profits to charity despite the economic downturn that prompted it to cut 1,000 workers on Tuesday and to announce the closure later this year of an Arkansas distribution center. ‘We remain committed to supporting the communities where we operate, including [donating] 5 percent of our income to nonprofit organizations that support the arts, education and social services,” said Lena . . . a Target spokesperson.”

Per Minnesota Council on Foundations:

Target has given five percent of its pretax profits to charitable causes since the first retail store opened in 1962. Its community outreach efforts support education, arts & culture, and social services at $3 million a week. Target Foundation & Corporation reported combined cash and in-kind contributions of $169 million for the fiscal year ending Feb. 2, 2008.

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