Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-31-2021 , and ending 01-29-2022
Name of foundation
TARGET FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1455
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN554401455
A Employer identification number

41-6017088
B Telephone number (see instructions)

(612) 761-9219
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$85,335,634J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 55,000,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 20,175 20,175  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 55,020,175 20,175  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 412 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 3,463 0   3,463
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,875 0   3,463
25 Contributions, gifts, grants paid....... 22,592,025 23,492,025
26 Total expenses and disbursements. Add lines 24 and 25 22,595,900 0   23,495,488
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 32,424,275
b Net investment income (if negative, enter -0-) 20,175
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 53,812,054 84,335,634 84,335,634
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 0 Click to see attachment1,000,000 1,000,000
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 53,812,054 85,335,634 85,335,634
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 1,200,000 300,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,164 Click to see attachment1,339
23 Total liabilities (add lines 17 through 22)......... 1,201,164 301,339
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 52,610,890 85,034,295
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 52,610,890 85,034,295
30 Total liabilities and net assets/fund balances (see instructions). 53,812,054 85,335,634
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
52,610,890
2
Enter amount from Part I, line 27a .....................
2
32,424,275
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
85,035,165
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
870
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
85,034,295
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1a
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 280
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 280
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 50
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,050
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 770
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet770 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletCORPORATE.TARGET.COM/CORPORATE-RESPONSIBILITY
    14
    The books are in care ofbulletINCOME TAX DEPARTMENT Telephone no.bullet (612) 761-9212

    Located atbulletPO BOX 1455MINNEAPOLISMN ZIP+4bullet554401455
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    DAN FLEMING ASSISTANT TREASURER
    0.05     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    COREY HAALAND TREASURER
    0.05     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    DAVE DONLIN SECRETARY
    0.05     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    JANINE BROWN ASSISTANT TREASURER
    0.05     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    DEXTER NEWMAN TRUSTEE
    0.25     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    BILL FOUDY TRUSTEE
    0.25     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    AMANDA NUSZ PRESIDENT & CHAIR
    1.00     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    YU-PING KAO TRUSTEE
    0.25     		0 0 0
    1000 NICOLLET MALL
    MINNEAPOLIS,MN55403
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 MINNESOTA INCLUSIVE GROWTH FUND, LLC - PROVIDES SUPPORT TO SMALL BUSINESSES IN THE STATE OF MINNESOTA FOCUSED ON LOW/MODERATE INCOME AREAS AND UNDER-SERVED COMMUNITIES, INCLUDING FACILITATING THE ECONOMIC RECOVERY OF SMALL BUSINESSES THAT HAVE EXPERIENCED DIRECT ECONOMIC HARDSHIP AS A RESULT OF THE COVID-19 PANDEMIC AND/OR THE CIVIL UNREST THAT OCCURRED IN THE AFTERMATH OF THE MURDER OF GEORGE FLOYD THAT HAS MATERIALLY IMPACTED THEIR OPERATIONS, THEREBY ALLEVIATING POVERTY, PROMOTING THE CREATION AND RETENTION OF JOBS, COMBATTING COMMUNITY DETERIORATION, AND PROMOTING ECONOMIC REVITALIZATION OF DISTRESSED COMMUNITIES. 1,000,000
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet1,000,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    0
    b
    Average of monthly cash balances.......................
    1b
    78,454,905
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    78,454,905
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    78,454,905
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,176,824
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    77,278,081
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    3,863,904
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    3,863,904
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    280
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    280
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,863,624
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,863,624
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    3,863,624
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 3,863,624
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 9,054,130
    b From 2017...... 9,245,126
    c From 2018...... 11,853,981
    d From 2019...... 7,922,454
    e From 2020...... 28,793,410
    f Total of lines 3a through e ........ 66,869,101
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 24,495,488
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 3,863,624
    e Remaining amount distributed out of corpus 20,631,864
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 87,500,965
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		9,054,130
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		78,446,835
    10 Analysis of line 9:
    a Excess from 2017.... 9,245,126
    b Excess from 2018.... 11,853,981
    c Excess from 2019.... 7,922,454
    d Excess from 2020.... 28,793,410
    e Excess from 2021.... 20,631,864
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    TARGET FOUNDATION
    PO BOX 1455
    MINNEAPOLIS,MN55440
    (612) 761-9219
    bThe form in which applications should be submitted and information and materials they should include:
    SEE OUR FOCUS AREAS AT: HTTPS://CORPORATE.TARGET.COM/CORPORATE-RESPONSIBILITY/PHILANTHROPY/TARGET-FO UNDATION
    cAny submission deadlines:
    SEE OUR FOCUS AREAS AT WEB ADDRESS ABOVE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SEE OUR FOCUS AREAS AT WEB ADDRESS ABOVE
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    360 COMMUNITIES
    501 E HWY 13 112
    BURNSVILLE,MN553370000     		  PC TRANSITION FUNDING 4,800
    ACCESSABILITY INC
    360 HOOVER STREET NE
    MINNEAPOLIS,MN55413     		  PC RACIAL EQUITY 50,000
    ACCESSIBLE SPACE INC
    2550 UNIVERSITY AVENUE WEST SUITE
    330N
    SAINT PAUL,MN55114     		  PC TRANSITION FUNDING 4,800
    ACTORS THEATER OF MINNESOTA
    275 4TH ST E STE 730
    SAINT PAUL,MN55101     		  PC TRANSITION FUNDING 12,000
    AEON
    901 N 3RD ST SUITE 150
    MINNEAPOLIS,MN55401     		  PC TRANSITION FUNDING 31,200
    AEON
    901 N 3RD ST SUITE 150
    MINNEAPOLIS,MN55401     		  PC RACIAL EQUITY 100,000
    AFRICAN AMERICAN LEADERSHIP FORUM
    1625 HENNEPIN AVE SUITE 200
    MINNEAPOLIS,MN55403     		  PC ECOSYSTEM 75,000
    AFRICAN DEVELOPMENT CENTER
    1931 S 5TH ST
    MINNEAPOLIS,MN554541257     		  PC RACIAL EQUITY 100,000
    AFTON HISTORICAL SOCIETY PRESS
    6800 FRANCE AVE S 370
    EDINA,MN55435     		  PC TRANSITION FUNDING 12,000
    AIN DAH YUNG OUR HOME CENTER
    1089 PORTLAND AVE
    SAINT PAUL,MN551047011     		  PC TRANSITION FUNDING 24,000
    AIN DAH YUNG OUR HOME CENTER
    1089 PORTLAND AVE
    SAINT PAUL,MN551047011     		  PC RACIAL EQUITY 25,000
    ALL SQUARE
    4047 MINNEHAHA AVE
    MINNEAPOLIS,MN554063305     		  PC RACIAL EQUITY 75,000
    ALLIANCE FOR METROPOLITAN STABILITY
    2525 E FRANKLIN AVE SUITE 200
    MINNEAPOLIS,MN554061084     		  PC RACIAL EQUITY; 2-YEAR GRANT 150,000
    ALLIANCE HOUSING INC
    2309 NICOLLET AVE
    MINNEAPOLIS,MN55404     		  PC RACIAL EQUITY 25,000
    AMERICAN INDIAN OIC INC
    1845 E FRANKLIN AVE
    MINNEAPOLIS,MN554042221     		  PC RACIAL EQUITY 100,000
    AMHERST H WILDER FOUNDATION
    451 LEXINGTON PARKWAY NORTH
    SAINT PAUL,MN55104     		  PC TRANSITION FUNDING 12,000
    AMHERST H WILDER FOUNDATION
    451 LEXINGTON PARKWAY NORTH
    SAINT PAUL,MN55104     		  PC ECOSYSTEM 50,000
    AMHERST H WILDER FOUNDATION
    451 LEXINGTON PARKWAY NORTH
    SAINT PAUL,MN55104     		  PC ECOSYSTEM 100,000
    APPETITE FOR CHANGE INC
    1200 WEST BROADWAY AVE NO 180
    MINNEAPOLIS,MN554112572     		  PC RACIAL EQUITY 75,000
    ARENA DANCES INC
    PO BOX 50261
    MINNEAPOLIS,MN55405     		  PC TRANSITION FUNDING 3,600
    ASCENSION PLACE
    1803 BRYANT AVE N
    MINNEAPOLIS,MN55411     		  PC TRANSITION FUNDING 31,200
    ASCENSION PLACE
    1803 BRYANT AVE N
    MINNEAPOLIS,MN55411     		  PC RACIAL EQUITY 25,000
    ASIAN ECONOMIC DEVELOPMENT ASSOCIATION
    422 UNIVERSITY AVE STE 14
    SAINT PAUL,MN55103     		  PC RACIAL EQUITY; 2-YEAR GRANT 150,000
    AURORA ST ANTHONY NEIGHBORHOOD DEVELOPMENT CORPORATION
    360 UNIVERSITY AVE WEST SUITE 103
    ST PAUL,MN551032465     		  PC RACIAL EQUITY; 2-YEAR GRANT 50,000
    AVENUES FOR YOUTH
    1708 OAK PARK AVE N
    MINNEAPOLIS,MN55411     		  PC TRANSITION FUNDING 48,000
    AVIVO
    1900 CHICAGO AVE
    MINNEAPOLIS,MN554041903     		  PC TRANSITION FUNDING 21,600
    BALLET MINNESOTA
    314 CHESTER STREET
    SAINT PAUL,MN55107     		  PC TRANSITION FUNDING 7,200
    BALLET WORKS INC
    528 HENNEPIN AVENUE SUITE 215
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 16,800
    BEACON INTERFAITH HOUSING COLLABORATIVE
    2610 UNIVERSITY AVE W STE 100
    SAINT PAUL,MN551141528     		  PC TRANSITION FUNDING 38,400
    BEACON INTERFAITH HOUSING COLLABORATIVE
    2610 UNIVERSITY AVE W STE 100
    SAINT PAUL,MN551141528     		  PC RACIAL EQUITY 50,000
    BUILD WEALTH MN INC
    2121 PLYMOUTH AVENUE N
    MINNEAPOLIS,MN55411     		  PC RACIAL EQUITY 200,000
    CANTUS
    1201 MARQUETTE AVE S SUITE 100
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 7,200
    CAPI USA
    5930 BROOKLYN BOULEVARD
    BROOKLYN CENTER,MN55429     		  PC TRANSITION FUNDING 6,480
    CAPI USA
    5930 BROOKLYN BOULEVARD
    BROOKLYN CENTER,MN55429     		  PC RACIAL EQUITY 150,000
    CATHOLIC CHARITIES OF THE ARCHDIOCESE OF ST PAUL & MPLS
    341 CHESTER ST
    ST PAUL,MN55017     		  PC TRANSITION FUNDING 120,000
    CENTER FOR ECONOMIC INCLUSION
    370 WABASHA ST N SUITE 900
    ST PAUL,MN55102     		  PC ECOSYSTEM; 3-YEAR GRANT 1,500,000
    CENTER FOR ECONOMIC INCLUSION
    370 WABASHA ST N SUITE 900
    ST PAUL,MN55102     		  PC ECOSYSTEM 250,000
    CHARITIES AID FOUNDATION AMERICA
    225 REINEKERS LANE SUITE 375
    ALEXANDRIA,VA22314     		  PC SUSTAINABLE LIVELIHOODS - IN SUPPORT OF BRITISH ASIAN TRUST AND SERES 1,129,000
    CHARITIES AID FOUNDATION AMERICA
    225 REINEKERS LANE SUITE 375
    ALEXANDRIA,VA22314     		  PC RESPONSIVE 249,315
    CHARITIES REVIEW COUNCIL
    1915 HWY 36 W STE133
    ROSEVILLE,MN55113     		  PC RESPONSIVE 25,000
    CHINESE AMERICAN CHAMBER OF COMMERCE - MN
    2418 PLYMOUTH AVE N
    MINNEAPOLIS,MN55411     		  PC TRANSITION FUNDING 4,800
    CIRCUS OF THE STAR
    1270 MONTREAL AVENUE
    SAINT PAUL,MN55116     		  PC TRANSITION FUNDING 12,000
    CITY OF LAKES COMMUNITY LAND TRUST
    1930 GLENWOOD AVENUE
    MINNEAPOLIS,MN55405     		  PC RACIAL EQUITY 75,000
    CITY OF LAKES COMMUNITY LAND TRUST
    1930 GLENWOOD AVENUE
    MINNEAPOLIS,MN55405     		  PC ECOSYSTEM 100,000
    CLARE HOUSING
    929 CENTRAL AVE NE
    MINNEAPOLIS,MN554132404     		  PC TRANSITION FUNDING 4,800
    COALITION OF ASIAN AMERICAN LEADERS
    941 LAFOND AVE STE 205
    SAINT PAUL,MN551042110     		  PC ECOSYSTEM 75,000
    COFFEE HOUSE PRESS
    79 13TH AVE NE SUITE 110
    MINNEAPOLIS,MN55413     		  PC TRANSITION FUNDING 19,200
    COLLABORATING FOR RESILIENCE
    1100 13TH STREET NW SUITE 800
    WASHINGTON DC,DC20005     		  PC SUSTAINABLE LIVELIHOODS; 2-YEAR GRANT 375,000
    COMMON FUTURE
    2323 BROADWAY
    OAKLAND,CA946122414     		  PC FINANCIAL SECURITY 250,000
    COMMONBOND COMMUNITIES
    1080 MONTREAL AVE
    ST PAUL,MN551162694     		  PC TRANSITION FUNDING 48,000
    COMMONBOND COMMUNITIES
    1080 MONTREAL AVE
    ST PAUL,MN551162694     		  PC RACIAL EQUITY 75,000
    COMMUNITY EMERGENCY ASSISTANCE PROGRAM
    7051 BROOKLYN BOULEVARD
    BROOKLYN CENTER,MN55429     		  PC TRANSITION FUNDING 21,600
    COMMUNITY REINVESTMENT FUND USA
    801 NICOLLET MALL SUITE 1700W
    MINNEAPOLIS,MN55402     		  PC RACIAL EQUITY 75,000
    COMMUNITY REINVESTMENT FUND USA
    801 NICOLLET MALL SUITE 1700W
    MINNEAPOLIS,MN55402     		  PC ECOSYSTEM 250,000
    COMPAS INC
    475 CLEVELAND AVE N STE 222
    SAINT PAUL,MN551045589     		  PC TRANSITION FUNDING 9,600
    COMUNIDADES LATINAS UNIDAS EN SERVICIO INC
    797 7TH ST E
    SAINT PAUL,MN551065014     		  PC RACIAL EQUITY 100,000
    CONTEMPORARY DANCE ARTS INC
    528 HENNEPIN AVENUE SUITE 401
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 3,600
    CONTINENTAL BALLET COMPANY
    1800 WEST OLD SHAKOPEE ROAD
    BLOOMINGTON,MN55431     		  PC TRANSITION FUNDING 2,400
    COOKIE CART
    1119 W BROADWAY AVE
    MINNEAPOLIS,MN554112505     		  PC RACIAL EQUITY 50,000
    COPAL (COMUNIDADES ORGANIZANDO EL PODER Y LA ACCIN LATINA)
    3702 E LAKE ST
    MINNEAPOLIS,MN554062156     		  PC RACIAL EQUITY 25,000
    DAKOTA WOODLANDS INC
    3430 WESCOTT WOODLANDS
    EAGAN,MN551231229     		  PC TRANSITION FUNDING 19,440
    DASRA US
    ONE RIVERWAY DR STE 1900
    HOUSTON,TX77056     		  PC ECOSYSTEM; 3-YEAR GRANT 300,000
    ECHOING GREEN INC
    462 7TH AVENUE 13TH FLOOR
    NEW YORK,NY100187430     		  PC ECOSYSTEM; 2-YEAR GRANT 500,000
    ELPIS ENTERPRISES
    2161 UNIVERSITY AVENUE WEST SUITE
    112
    ST PAUL,MN551141319     		  PC RACIAL EQUITY 25,000
    EMERGE COMMUNITY DEVELOPMENT
    1834 EMERSON AVE N
    MINNEAPOLIS,MN554113229     		  PC TRANSITION FUNDING 60,000
    EMERGE COMMUNITY DEVELOPMENT
    1834 EMERSON AVE N
    MINNEAPOLIS,MN554113229     		  PC RACIAL EQUITY 75,000
    EMMA NORTON SERVICES
    670 ROBERT STREET NORTH
    SAINT PAUL,MN55101     		  PC TRANSITION FUNDING 10,800
    EMMA NORTON SERVICES
    670 ROBERT STREET NORTH
    SAINT PAUL,MN55101     		  PC RACIAL EQUITY 25,000
    EXODUS FINANCIAL SERVICES
    2380 WYCLIFF STREET SUITE B-100
    ST PAUL,MN55114     		  PC RACIAL EQUITY 20,000
    FACE TO FACE HEALTH AND COUNSELING SERVICE INC
    1165 ARCADE STREET
    SAINT PAUL,MN55106     		  PC TRANSITION FUNDING 12,960
    FAMILY HOUSING FUND
    310 4TH AVE SOUTH SUITE 9000
    MINNEAPOLIS,MN55415     		  SO I TRANSITION FUNDING 24,000
    FAMILY HOUSING FUND
    310 4TH AVE SOUTH SUITE 9000
    MINNEAPOLIS,MN55415     		  SO I RACIAL EQUITY 75,000
    FILENE RESEARCH INSTITUTE INC
    1010 E WASHINGTON AVE STE 306
    MADISON,WI537034416     		  PC FINANCIAL SECURITY 200,000
    FILMNORTH
    550 VANDALIA ST STE 120
    SAINT PAUL,MN551141943     		  PC TRANSITION FUNDING 7,200
    FLYING FOOT FORUM
    3105 GARFIELD AVENUE SOUTH
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 4,050
    FRIENDS OF THE MINNESOTA SINFONIA
    901 N 3RD ST 112
    MINNEAPOLIS,MN55401     		  PC TRANSITION FUNDING 16,800
    FUND FOR GLOBAL HUMAN RIGHTS
    1301 CONNECTICUT AVE NW STE 400
    WASHINGTON,DC20036     		  PC RESPONSIVE 100,000
    GLOBAL FUND FOR WOMEN
    800 MARKET STREET 7TH FLOOR
    SAN FRANCISCO,CA94102     		  PC RESPONSIVE 50,000
    GRAYWOLF PRESS
    250 THIRD AVENUE NORTH SUITE 600
    MINNEAPOLIS,MN55401     		  PC TRANSITION FUNDING 19,200
    GREATER METROPOLITAN HOUSING CORPORATION
    15 SOUTH 5TH STREET SUITE 710
    MINNEAPOLIS,MN55402     		  PC TRANSITION FUNDING 31,200
    GREATER MINNEAPOLIS COUNCIL OF CHURCHES
    1100 EAST LAKE STREET
    MINNEAPOLIS,MN55407     		  PC TRANSITION FUNDING 36,000
    GREATER MINNEAPOLIS CRISIS NURSERY
    4544 4TH AVE S
    MINNEAPOLIS,MN55419     		  PC TRANSITION FUNDING 21,600
    GREATER TWIN CITIES UNITED WAY
    404 S 8TH STREET
    MINNEAPOLIS,MN55404     		  PC RESPONSIVE 90,000
    GREATER TWIN CITIES YOUTH SYMPHONIES
    408 SAINT PETER ST STE 300
    SAINT PAUL,MN551021123     		  PC TRANSITION FUNDING 7,200
    GUILD
    122 WABASHA STREET S 400
    SAINT PAUL,MN55107     		  PC TRANSITION FUNDING 15,120
    H I R E D
    217 5TH AVE N 3RD FL
    MINNEAPOLIS,MN554011258     		  PC RACIAL EQUITY 75,000
    HAP ECONOMIC & COMMUNITY DEVELOPMENT CORPORATION
    1075 ARCADE STREET
    SAINT PAUL,MN55106     		  PC RACIAL EQUITY 75,000
    HEADWATERS FOUNDATION FOR JUSTICE
    2801 21ST AVE S STE 132B
    MINNEAPOLIS,MN554075778     		  PC ECOSYSTEM 75,000
    HELP AT YOUR DOOR
    8441 WAYZATA BLVD SUITE 160
    GOLDEN VALLEY,MN55426     		  PC TRANSITION FUNDING 8,640
    HIGHPOINT CENTER FOR PRINTMAKING
    912 WEST LAKE STREET
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 12,000
    HISTORY THEATRE
    30 E 10TH STREET
    SAINT PAUL,MN55101     		  PC TRANSITION FUNDING 24,000
    HMONG AMERICAN FARMERS ASSOCIATION
    149 THOMPSON AVENUE EAST SUITE 210
    WEST SAINT PAUL,MN55118     		  PC RACIAL EQUITY 150,000
    HOME LINE
    8011 34TH AVE S STE 126
    BLOOMINGTON,MN554252081     		  PC RACIAL EQUITY 25,000
    HOPE COMMUNITY
    611 EAST FRANKLIN AVENUE
    MINNEAPOLIS,MN55404     		  PC TRANSITION FUNDING 21,600
    HOPE COMMUNITY
    611 EAST FRANKLIN AVENUE
    MINNEAPOLIS,MN55404     		  PC RACIAL EQUITY 200,000
    HOUSING JUSTICE CENTER
    275 4TH STREET E 605
    SAINT PAUL,MN55101     		  PC RACIAL EQUITY 25,000
    HOUSINGLINK
    1400 VAN BUREN ST NE STE 215
    MINNEAPOLIS,MN55413     		  PC TRANSITION FUNDING 7,200
    ILLUSION THEATER AND SCHOOL INC
    C/O 3120 HUMBOLDT AVENUE SOUTH
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 26,400
    IN THE HEART OF THE BEAST PUPPET & MASK THEATRE
    1500 E LAKE STREET
    MINNEAPOLIS,MN55407     		  PC TRANSITION FUNDING 16,800
    INCLUSIV
    39 BROADWAY RM 2140
    NEW YORK,NY100063063     		  PC FINANCIAL SECURITY 200,000
    INQUILINXS UNIDXS POR JUSTICIA
    3715 CHICAGO AVE
    MINNEAPOLIS,MN554072610     		  PC RACIAL EQUITY; 2-YEAR GRANT 100,000
    INTERACT CENTER FOR THE VISUAL AND PERFORMING ARTS
    1860 MINNEHAHA AVENUE
    SAINT PAUL,MN55104     		  PC TRANSITION FUNDING 4,800
    INTERCONGREGATION COMMUNITIES ASSOCIATION INC
    12990 SAINT DAVIDS RD
    MINNETONKA,MN553054117     		  PC TRANSITION FUNDING 12,000
    INTERFAITH ACTION OF GREATER SAINT PAUL
    1671 SUMMIT AVENUE
    SAINT PAUL,MN55105     		  PC TRANSITION FUNDING 4,800
    INTERFAITH OUTREACH AND COMMUNITY PARTNERS
    1605 COUNTY ROAD 101 N
    PLYMOUTH,MN554472708     		  PC TRANSITION FUNDING 24,000
    INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
    1201 EYE ST NW
    WASHINGTON,DC200055905     		  PC SUSTAINABLE LIVELIHOODS; 3-YEAR GRANT 300,000
    INTERNATIONAL INSTITUTE OF MINNESOTA
    1694 COMO AVENUE
    SAINT PAUL,MN55108     		  PC RACIAL EQUITY 75,000
    ISSARA INSTITUTE INC
    555 BRYANT STREET UNIT 871
    PALO ALTO,CA943011704     		  PC SUSTAINABLE LIVELIHOODS; 3-YEAR GRANT 1,000,000
    JAWAAHIR DANCE COMPANY
    3010 MINNEHAHA AVENUE SOUTH
    MINNEAPOLIS,MN55406     		  PC TRANSITION FUNDING 2,400
    JAZZMN INC
    PO BOX 8162
    ST PAUL,MN55108     		  PC TRANSITION FUNDING 1,680
    JEREMIAH PROGRAM
    1510 LAUREL AVENUE
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 24,000
    JEREMIAH PROGRAM
    1510 LAUREL AVENUE
    MINNEAPOLIS,MN55403     		  PC RACIAL EQUITY 25,000
    JOBS FOUNDATION
    860 VANDALIA ST
    SAINT PAUL,MN551141305     		  PC RACIAL EQUITY 50,000
    JUNGLE THEATER
    2951 LYNDALE AVE SOUTH
    MINNEAPOLIS,MN554082111     		  PC TRANSITION FUNDING 43,200
    JUXTAPOSITION INC
    2007 EMERSON AVE N
    MINNEAPOLIS,MN554112507     		  PC TRANSITION FUNDING 9,600
    KAREN ORGANIZATION OF MINNESOTA
    2353 RICE ST STE 240
    ROSEVILLE,MN55113     		  PC RACIAL EQUITY 50,000
    KATHA DANCE THEATRE
    5444 ORCHARD AVE N
    CRYSTAL,MN55429     		  PC TRANSITION FUNDING 2,400
    KEYSTONE COMMUNITY SERVICES
    2000 ST ANTHONY AVENUE
    SAINT PAUL,MN551045125     		  PC TRANSITION FUNDING 14,400
    KULTURE KLUB COLLABORATIVE
    41 N 12TH ST
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 6,000
    LAKE STREET COUNCIL
    919 E LAKE ST
    MINNEAPOLIS,MN554071615     		  PC RACIAL EQUITY 75,000
    LATINOLEAD
    797 E 7TH STREET NO 151
    ST PAUL,MN551060000     		  PC ECOSYSTEM 50,000
    LISTENING HOUSE OF ST PAUL INC
    464 MARIA AVENUE
    ST PAUL,MN55106     		  PC TRANSITION FUNDING 17,280
    LITTLE BROTHERS - FRIENDS OF THE ELDERLY
    1845 EAST LAKE STREET
    MINNEAPOLIS,MN55407     		  PC TRANSITION FUNDING 4,800
    LOAVES AND FISHES TOO
    721 KASOTA AVE SE
    MINNEAPOLIS,MN554142842     		  PC TRANSITION FUNDING 28,080
    LOCAL INITIATIVES SUPPORT CORPORATION
    570 ASBURY STREET SUITE 207
    ST PAUL,MN551041850     		  PC RACIAL EQUITY 175,000
    LOFT INC
    1011 WASHINGTON AVENUE SOUTH STE
    200
    MINNEAPOLIS,MN55415     		  PC TRANSITION FUNDING 28,800
    LUNAR STARTUPS
    2917 W 54TH ST
    MINNEAPOLIS,MN55410     		  PC RACIAL EQUITY 50,000
    LUTHERAN SOCIAL SERVICE OF MINNESOTA
    2485 COMO AVE
    SAINT PAUL,MN551081445     		  PC TRANSITION FUNDING 43,200
    MACPHAIL CENTER FOR MUSIC
    501 SOUTH SECOND STREET
    MINNEAPOLIS,MN55401     		  PC TRANSITION FUNDING 14,400
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVENUE NE49-3142
    CAMBRIDGE,MA021394307     		  PC SUSTAINABLE LIVELIHOODS; 3-YEAR GRANT 1,200,000
    MERRICK COMMUNITY SERVICES
    1669 ARCADE STREET NORTH SUITE 4
    SAINT PAUL,MN55106     		  PC TRANSITION FUNDING 4,800
    METRO MEALS ON WHEELS INC
    1200 WASHINGTON AVE S STE380
    MINNEAPOLIS,MN55415     		  PC TRANSITION FUNDING 15,120
    METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS
    3137 CHICAGO AVENUE
    MINNEAPOLIS,MN55407     		  PC RACIAL EQUITY 50,000
    METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION
    1256 PENN AVE N STE 4800
    MINNEAPOLIS,MN55411     		  PC RACIAL EQUITY 75,000
    METROPOLITAN SYMPHONY ORCHESTRA
    PO BOX 581213
    MINNEAPOLIS,MN55458     		  PC TRANSITION FUNDING 2,400
    MICROGRANTS
    3817 PLEASANT AVE S
    MINNEAPOLIS,MN55409     		  PC RACIAL EQUITY 25,000
    MIDWAY CONTEMPORARY ART
    527 SECOND AVE SE
    MINNEAPOLIS,MN55414     		  PC TRANSITION FUNDING 2,400
    MILKWEED EDITIONS
    1011 WASHINGTON AVENUE SOUTH OPEN
    BOOK SUITE 300
    MINNEAPOLIS,MN55415     		  PC TRANSITION FUNDING 26,400
    MINNEAPOLIS DOWNTOWN COUNCIL
    81 SOUTH 9TH STREET SUITE 260
    MINNEAPOLIS,MN55402     		  PC RACIAL EQUITY 50,000
    MINNEAPOLIS POPS ORCHESTRA ASSOCIATION
    2712 - 41ST AVENUE SOUTH
    MINNEAPOLIS,MN55406     		  PC TRANSITION FUNDING 5,040
    MINNESOTA AFRICANS UNITED
    8417 REGENT AVENUE NORTH 103
    MINNEAPOLIS,MN55443     		  PC RACIAL EQUITY; 2-YEAR GRANT 50,000
    MINNESOTA ASSISTANCE COUNCIL FOR VETERANS
    1000 UNIVERSITY AVE W STE 10
    SAINT PAUL,MN551044747     		  PC TRANSITION FUNDING 9,600
    MINNESOTA ASSISTANCE COUNCIL FOR VETERANS
    1000 UNIVERSITY AVE W STE 10
    SAINT PAUL,MN551044747     		  PC RACIAL EQUITY 25,000
    MINNESOTA CENTER FOR BOOK ARTS
    1011 WASHINGTON AVE S STE 100
    MINNEAPOLIS,MN55415     		  PC TRANSITION FUNDING 19,200
    MINNESOTA CHORALE
    1200 MARQUETTE AVE SUITE 100
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 12,000
    MINNESOTA COUNCIL OF NONPROFITS
    2314 UNIVERSITY AVENUE W SUITE 20
    SAINT PAUL,MN55114     		  PC ECOSYSTEM 40,000
    MINNESOTA DANCE THEATRE & SCHOOL
    528 HENNEPIN AVENUE - 6TH FLOOR
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 21,600
    MINNESOTA HISTORICAL SOCIETYMILL CITY MUSEUM
    345 KELLOGG BLVD W
    SAINT PAUL,MN55102     		  PC TRANSITION FUNDING 12,000
    MINNESOTA HOMEOWNERSHIP CENTER
    1000 PAYNE AVENUE SUITE 200
    SAINT PAUL,MN55130     		  PC TRANSITION FUNDING 21,600
    MINNESOTA HOMEOWNERSHIP CENTER
    1000 PAYNE AVENUE SUITE 200
    SAINT PAUL,MN55130     		  PC RACIAL EQUITY 25,000
    MINNESOTA HOUSING PARTNERSHIP
    2446 UNIVERSITY AVE W STE 140
    SAINT PAUL,MN551141740     		  PC RACIAL EQUITY 25,000
    MINNESOTA JEWISH THEATRE COMPANY
    PO BOX 16155
    ST PAUL,MN55116     		  PC TRANSITION FUNDING 7,200
    MINNESOTA MUSEUM OF AMERICAN ART
    350 ROBERT STREET N
    ST PAUL,MN55101     		  PC TRANSITION FUNDING 16,800
    MINNESOTA OPERA
    620 NORTH FIRST STREET
    MINNEAPOLIS,MN55401     		  PC TRANSITION FUNDING 67,200
    MISSION ASSET FUND
    3269 MISSION ST
    SAN FRANCISCO,CA94110     		  PC FINANCIAL SECURITY 250,000
    MIXED BLOOD THEATRE COMPANY
    1501 SOUTH 4TH STREET
    MINNEAPOLIS,MN55454     		  PC TRANSITION FUNDING 26,400
    MNI SOTA FUND
    1113 E FRANKLIN AVE STE 200
    MINNEAPOLIS,MN554042977     		  PC RACIAL EQUITY; 2-YEAR GRANT 200,000
    MODEL CITIES OF ST PAUL INC
    839 UNIVERSITY AVENUE WEST
    ST PAUL,MN55104     		  PC RACIAL EQUITY 75,000
    NATIONAL ASIAN PACIFIC AMERICAN WOMEN'S FORUM
    PO BOX 13255
    CHICAGO,IL60613     		  PC RESPONSIVE 75,000
    NATIONAL COALITION FOR ASIAN PACIFIC AMERICAN COMMUNITY DEVELOPMENT
    1825 SAN PABLO AVE SUITE 2
    OAKLAND,CA94612     		  PC FINANCIAL SECURITY 200,000
    NATIVE GOVERNANCE CENTER
    1730 NEW BRIGHTON BLVD SUITE
    104-236
    MINNEAPOLIS,MN55413     		  PC ECOSYSTEM 80,000
    NEIGHBORHOOD DEVELOPMENT ALLIANCE INC
    481 WABASHA STREET SOUTH
    ST PAUL,MN55107     		  SO I RACIAL EQUITY 50,000
    NEIGHBORHOOD DEVELOPMENT CENTER INC
    663 UNIVERSITY AVE W STE 200
    SAINT PAUL,MN551045097     		  PC RACIAL EQUITY 100,000
    NEIGHBORHOOD HOUSE
    179 ROBIE ST E
    SAINT PAUL,MN551072360     		  PC TRANSITION FUNDING 16,800
    NEIGHBORHOOD TRUST FINANCIAL PARTNERS
    530 W 166TH ST FL 4
    NEW YORK,NY100324208     		  PC FINANCIAL SECURITY 250,000
    NEIGHBORS INC
    222 GRAND AVENUE
    SOUTH SAINT PAUL,MN550752089     		  PC TRANSITION FUNDING 7,200
    NEW MEXICO COMMUNITY CAPITAL CO NATIVE WOMEN LEAD
    301 GOLD AVE SW STE 102
    ALBUQUERQUE,NM87102     		  PC ECOSYSTEM; 2-YEAR GRANT 400,000
    NEW VENTURE FUND (CO-IMPACT)
    1201 CONNECTICUT AVE NW STE 300
    WASHINGTON,DC200362611     		  PC ECOSYSTEM; 3-YEAR GRANT 1,000,000
    NEXUS COMMUNITY PARTNERS
    2314 UNIVERSITY AVE W STE 18
    SAINT PAUL,MN551141863     		  PC RACIAL EQUITY 100,000
    NORTHERN CLAY CENTER
    2424 E FRANKLIN AVE
    MINNEAPOLIS,MN55406     		  PC TRANSITION FUNDING 16,800
    NORTHSIDE ACHIEVEMENT ZONE
    2123 W BROADWAY AVE STE 100
    MINNEAPOLIS,MN554111870     		  PC TRANSITION FUNDING 400,000
    NORTHSIDE ECONOMIC OPPORTUNITY NETWORK
    1007 W BROADWAY AVE
    MINNEAPOLIS,MN554112503     		  PC RACIAL EQUITY 150,000
    OKLAHOMA NATIVE ASSETS COALITION INC
    PO BOX 21804
    OKLAHOMA CITY,OK731561804     		  PC FINANCIAL SECURITY 100,000
    OPEN EYE FIGURE THEATRE
    506 EAST 24TH STREET
    MINNEAPOLIS,MN55404     		  PC TRANSITION FUNDING 2,400
    OUR SAVIOUR'S COMMUNITY SERVICES
    2315 CHICAGO AVE
    MINNEAPOLIS,MN554043843     		  PC TRANSITION FUNDING 28,800
    PANGEA WORLD THEATER
    711 WEST LAKE STREET SUITE 101
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 7,200
    PARK SQUARE THEATRE COMPANY
    408 SAINT PETER ST STE 110
    SAINT PAUL,MN551021121     		  PC TRANSITION FUNDING 26,400
    PENUMBRA THEATRE
    270 NORTH KENT STREET
    SAINT PAUL,MN55102     		  PC TRANSITION FUNDING 31,200
    PEOPLE REACHING OUT TO OTHER PEOPLE INC PROP
    14700 MARTIN DR
    EDEN PRAIRIE,MN553442010     		  PC TRANSITION FUNDING 4,800
    PEOPLE RESPONDING IN SOCIAL MINISTRY
    1220 ZANE AVE N
    GOLDEN VALLEY,MN554224608     		  PC TRANSITION FUNDING 14,400
    PEOPLE SERVING PEOPLE INC CHARITIES
    614 S 3RD ST
    MINNEAPOLIS,MN554151104     		  PC TRANSITION FUNDING 96,000
    PERSPECTIVES INC
    3381 GORHAM AVE
    ST LOUIS PARK,MN55426     		  PC TRANSITION FUNDING 72,000
    PHYLLIS WHEATLEY COMMUNITY CENTER
    1301 10TH AVENUE NORTH
    MINNEAPOLIS,MN55411     		  PC RACIAL EQUITY 50,000
    PILLSBURY UNITED COMMUNITIES
    3650 FREMONT AVE NO
    MINNEAPOLIS,MN55412     		  PC TRANSITION FUNDING 16,800
    PILLSBURY UNITED COMMUNITIES
    3650 FREMONT AVE NO
    MINNEAPOLIS,MN55412     		  PC ECOSYSTEM 50,000
    PLYMOUTH CHRISTIAN YOUTH CENTER
    2210 OLIVER AVENUE NORTH
    MINNEAPOLIS,MN55411     		  PC TRANSITION FUNDING 12,000
    PREPARE AND PROSPER
    2610 UNIVERSITY AVE W STE 450
    SAINT PAUL,MN551141055     		  PC RACIAL EQUITY 50,000
    PRG INC
    2017 E 38TH STREET
    MINNEAPOLIS,MN55407     		  PC RACIAL EQUITY 45,000
    PROJECT FOR PRIDE IN LIVING INC
    1035 E FRANKLIN AVE
    MINNEAPOLIS,MN554042920     		  PC TRANSITION FUNDING 96,000
    PROJECT FOR PRIDE IN LIVING INC
    1035 E FRANKLIN AVE
    MINNEAPOLIS,MN554042920     		  PC RACIAL EQUITY 75,000
    PROJECT SUCCESS-STUDENTS UNDERTAKING CREATIVE CONTROL
    ONE GROVELAND TERRACE SUITE 300
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 24,000
    PROPEL NONPROFITS
    1 SE MAIN STREET SUITE 600
    MINNEAPOLIS,MN55414     		  PC ECOSYSTEM 40,000
    RACE FORWARD
    145 EAST 57TH STREET FOURTH FLOOR
    NEW YORK,NY10022     		  PC ECOSYSTEM; 2-YEAR GRANT 500,000
    RAGAMALA DANCE
    711 WEST LAKE STREET SUITE 305
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 12,000
    RAIN TAXI
    PO BOX 3840
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 6,480
    RAMSEY COUNTY HISTORICAL SOCIETY
    75 5TH ST W SUITE 323
    SAINT PAUL,MN55102     		  PC TRANSITION FUNDING 7,200
    RED EYE COLLABORATION
    2213 SNELLING AVE
    MINNEAPOLIS,MN55404     		  PC TRANSITION FUNDING 7,200
    REDEEMER CENTER FOR LIFE
    1800 GLENWOOD AVE N
    MINNEAPOLIS,MN55405     		  PC RACIAL EQUITY 25,000
    RENT REPORTER INC
    215 WEST 125TH STREET RM 410
    NEW YORK,NY100274426     		  PC RESPONSIVE 200,000
    SABATHANI COMMUNITY CENTER
    310 E 38TH STREET
    MINNEAPOLIS,MN55409     		  PC TRANSITION FUNDING 79,380
    SABATHANI COMMUNITY CENTER
    310 E 38TH STREET
    MINNEAPOLIS,MN55409     		  PC RACIAL EQUITY 75,000
    SAKAN COMMUNITY RESOURCE
    1701 AMERICAN BLVD SUITE 6
    BLOOMINGTON,MN55420     		  PC RACIAL EQUITY; 2-YEAR GRANT 60,000
    SAVERLIFE
    235 MONTGOMERY ST STE 1050
    SAN FRANCISCO,CA941043008     		  PC FINANCIAL SECURITY 250,000
    SERVEMINNESOTA
    120 SOUTH 6TH STREET SUITE 2260
    MINNEAPOLIS,MN55402     		  PC RESPONSIVE 200,000
    SEWARD REDESIGN INC
    2619 EAST FRANKLIN AVENUE
    MINNEAPOLIS,MN55406     		  PC ECOSYSTEM 50,000
    SHARING AND CARING HANDS INC
    525 NORTH 7TH STREET
    MINNEAPOLIS,MN55405     		  PC TRANSITION FUNDING 48,000
    SIMPSON HOUSING SERVICES INC
    160 GLENWOOD AVENUE
    MINNEAPOLIS,MN55405     		  PC TRANSITION FUNDING 72,000
    SKYLARK OPERA
    75 5TH ST W STE 224
    SAINT PAUL,MN55102     		  PC TRANSITION FUNDING 7,200
    SOLID GROUND
    3521 CENTURY AVE N
    WHITE BEAR LAKE,MN551105689     		  PC TRANSITION FUNDING 9,600
    SOO VISUAL ARTS CENTER
    2909 BRYANT AVENUE SOUTH 101
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 2,400
    SOUTHERN MINNESOTA INITIATIVE FOUNDATION
    525 FLORENCE AVE
    OWATONNA,MN55060     		  PC RACIAL EQUITY 25,000
    SPRING IMPACT INC
    5214F DIAMOND HEIGHTS BLVD 961
    SAN FRANCISCO,CA94131     		  PC SUSTAINABLE LIVELIHOODS; 2-YEAR GRANT 325,000
    SPRINGBOARD FOR THE ARTS
    262 UNIVERSITY AVE W
    SAINT PAUL,MN55103     		  PC RACIAL EQUITY 100,000
    SPRINGBOARD TO OPPORTUNITIES
    854 N JEFFERSON ST
    JACKSON,MS392024139     		  PC FINANCIAL SECURITY 175,000
    ST LOUIS PARK EMERGENCY PROGRAM INC
    6812 W LAKE ST
    ST LOUIS PARK,MN554264208     		  PC TRANSITION FUNDING 4,800
    ST STEPHENS HUMAN SERVICES INC
    2309 NICOLLET AVE
    MINNEAPOLIS,MN554043315     		  PC TRANSITION FUNDING 40,800
    ST PAUL & MINNESOTA FOUNDATION
    101 5TH ST E STE 2400
    SAINT PAUL,MN551011800     		  PC RACIAL EQUITY 50,000
    STAGES THEATRE COMPANY INC
    1111 MAIN STREET
    HOPKINS,MN553437552     		  PC TRANSITION FUNDING 31,200
    STEPPINGSTONE THEATRE
    408 ST PETER STREET STE 110
    SAINT PAUL,MN55102     		  PC TRANSITION FUNDING 19,200
    STUART PIMSLER DANCE & THEATER
    1937 GLENWOOD PARKWAY
    MINNEAPOLIS,MN55422     		  PC TRANSITION FUNDING 7,200
    STUDIONE-EIGHTY
    2924 FOURTH AVENUE SOUTH
    MINNEAPOLIS,MN55408     		  PC RACIAL EQUITY 25,000
    TEATRO DEL PUEBLO
    209 PAGE ST W 208
    SAINT PAUL,MN55107     		  PC TRANSITION FUNDING 2,400
    TEN THOUSAND THINGS THEATER COMPANY
    1430 CONCORDIA AVENUE 40216
    SAINT PAUL,MN55104     		  PC TRANSITION FUNDING 4,800
    TEXTILE CENTER OF MINNESOTA
    3000 UNIVERSITY AVE SE
    MINNEAPOLIS,MN55414     		  PC TRANSITION FUNDING 7,200
    THE ACUMEN FUND INC
    40 WORTH STREET SUITE 303
    NEW YORK,NY10013     		  PC SUSTAINABLE LIVELIHOODS; 3-YEAR GRANT 1,000,000
    THE ACUMEN FUND INC
    40 WORTH STREET SUITE 303
    NEW YORK,NY10013     		  PC FINANCIAL SECURITY 150,000
    THE BRIDGE FOR YOUTH
    1111 W 22ND ST
    MINNEAPOLIS,MN554052705     		  PC TRANSITION FUNDING 86,400
    THE CEDAR CULTURAL CENTER INC
    416 CEDAR AVE S
    MINNEAPOLIS,MN554541033     		  PC TRANSITION FUNDING 16,800
    THE GIVENS FOUNDATION FOR AFRICAN AMERICAN LITERATURE
    5775 WAYZATA BLVD SUITE 700
    ST LOUIS PARK,MN55416     		  PC TRANSITION FUNDING 9,600
    THE KAREN L CHARLES THREADS DANCE PROJECT
    2213 SNELLING AVE
    MINNEAPOLIS,MN55404     		  PC TRANSITION FUNDING 2,400
    THE LINK
    1210 GLENWOOD AVE
    MINNEAPOLIS,MN554051415     		  PC TRANSITION FUNDING 24,000
    THE MUSEUM OF RUSSIAN ART
    5500 STEVENS AVENUE
    MINNEAPOLIS,MN55419     		  PC TRANSITION FUNDING 7,200
    THE POWER OF PEOPLE LEADERSHIP INSTITUTE
    600 18TH AVE N STE 1
    MINNEAPOLIS,MN554113368     		  PC RACIAL EQUITY; 2-YEAR GRANT 100,000
    THE SCHUBERT CLUB
    75 WEST 5TH STREET SUITE 302
    ST PAUL,MN55102     		  PC TRANSITION FUNDING 16,800
    THE WORKERS LAB
    1111 BROADWAY FLOOR 3
    OAKLAND,CA946074139     		  PC FINANCIAL SECURITY 250,000
    THEATER MU INC
    755 PRIOR AVENUE N 107
    SAINT PAUL,MN55104     		  PC TRANSITION FUNDING 9,600
    THEATRE LATTE-DA
    345 13TH AVE NE
    MINNEAPOLIS,MN55413     		  PC TRANSITION FUNDING 9,600
    TIWAHE FOUNDATION
    570 ASBURY ST STE 104
    SAINT PAUL,MN551041852     		  PC ECOSYSTEM 40,000
    TU DANCE
    PO BOX 40405
    SAINT PAUL,MN55104     		  PC TRANSITION FUNDING 7,200
    TWIN CITIES GAY MEN'S CHORUS
    528 HENNEPIN AVENUE SUITE 307
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 4,800
    TWIN CITIES HABITAT FOR HUMANITY
    1954 UNIVERSITY AVE
    ST PAUL,MN55104     		  PC TRANSITION FUNDING 60,000
    TWIN CITIES HABITAT FOR HUMANITY
    1954 UNIVERSITY AVE
    ST PAUL,MN55104     		  PC RACIAL EQUITY 25,000
    UJAMAA PLACE
    1821 UNIVERSITY AVE W STE N187
    SAINT PAUL,MN551042870     		  PC RACIAL EQUITY 200,000
    UPTOGETHER
    663 13TH ST STE 200
    OAKLAND,CA946121275     		  PC FINANCIAL SECURITY 500,000
    URBAN HOMEWORKS INC
    2015 EMERSON AVE N
    MINNEAPOLIS,MN55411     		  PC TRANSITION FUNDING 7,200
    URBAN VENTURES LEADERSHIP FOUNDATION
    2924 4TH AVE S
    MINNEAPOLIS,MN554082438     		  PC TRANSITION FUNDING 24,000
    VAIL PLACE
    23 9TH AVENUE SOUTH
    HOPKINS,MN55343     		  PC TRANSITION FUNDING 6,480
    VEAP INC
    9600 ALDRICH AVE S
    BLOOMINGTON,MN554204210     		  PC TRANSITION FUNDING 9,600
    VOCALESSENCE
    1900 NICOLLET AVENUE
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 28,800
    VOICES FOR RACIAL JUSTICE
    2525 E FRANKLIN AVE STE 301
    MINNEAPOLIS,MN554061198     		  PC ECOSYSTEM 50,000
    WAYSIDE RECOVERY CENTER
    3705 PARK CENTER BLVD
    MINNEAPOLIS,MN554162504     		  PC TRANSITION FUNDING 15,120
    WEISMAN ART MUSEUM UNIVERSITY OF MINNESOTA
    PO BOX 860266
    MINNEAPOLIS,MN55486     		  PC TRANSITION FUNDING 24,000
    WEST BROADWAY BUSINESS AND AREA COALITION
    1011 W BROADWAY AVE STE 202
    MINNEAPOLIS,MN554112566     		  PC RACIAL EQUITY; 2-YEAR GRANT 150,000
    WEST SIDE CITIZENS ORGANIZATION
    209 PAGE ST W
    ST PAUL,MN55107     		  PC RACIAL EQUITY; 2-YEAR GRANT 80,000
    WOMEN VENTURE
    2021 E HENNEPIN AVE STE 200
    MINNEAPOLIS,MN554132724     		  PC RACIAL EQUITY 25,000
    WOMENS FOUNDATION OF MINNESOTA
    105 5TH AVE S STE 300
    MINNEAPOLIS,MN554016050     		  PC ECOSYSTEM 100,000
    YOUNG WOMENS CHRISTIAN ASSOCIATION
    375 SELBY AVE
    SAINT PAUL,MN551021822     		  PC TRANSITION FUNDING 28,800
    YOUNG WOMENS CHRISTIAN ASSOCIATION
    375 SELBY AVE
    SAINT PAUL,MN551021822     		  PC RACIAL EQUITY 50,000
    YOUTH PERFORMANCE COMPANY
    641 FAIRVIEW AVE N STE 191
    SAINT PAUL,MN551041744     		  PC TRANSITION FUNDING 16,800
    YOUTHLINK
    41 N 12TH ST
    MINNEAPOLIS,MN554031325     		  PC TRANSITION FUNDING 48,000
    YOUTHPRISE
    3001 BROADWAY STREET NE SUITE 330
    MINNEAPOLIS,MN55413     		  PC RACIAL EQUITY 200,000
    ZEITGEIST
    275 EAST FOURTH STREET SUITE 200
    SAINT PAUL,MN55101     		  PC TRANSITION FUNDING 7,200
    ZENON DANCE COMPANY AND SCHOOL INC
    528 HENNEPIN AVENUE
    MINNEAPOLIS,MN55403     		  PC TRANSITION FUNDING 12,000
    ZOOM HOUSE
    3244 BLAISDELL AVENUE SOUTH 7
    MINNEAPOLIS,MN55408     		  PC TRANSITION FUNDING 4,320
    ZORONGO FLAMENCO DANCE THEATER
    3715 MINNEHAHA AVENUE S STE C
    MINNEAPOLIS,MN55406     		  PC TRANSITION FUNDING 5,040
    Total .................................bullet 3a 23,492,025
    bApproved for future payment
    IFRE INC
    250 W 55TH ST 25TH FLOOR SUITE 25B
    NEW YORK,NY10019     		  PC ECOSYSTEM; 3-YEAR GRANT 300,000
    Total .................................bullet 3b 300,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 20,175  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		         
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 20,175 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    20,175
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    TARGET FOUNDATION
     
    Employer identification number

    41-6017088
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    TARGET FOUNDATION
          		Employer identification number
    41-6017088
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    TARGET CORPORATION
     
    1000 NICOLLET MALL
     
    MINNEAPOLIS, MN55403

    		$ 55,000,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    TARGET FOUNDATION
          		Employer identification number

    41-6017088
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    TARGET FOUNDATION
          		Employer identification number

    41-6017088
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 InvestmentsOtherSchedule2
    Name:
    TARGET FOUNDATION
    EIN:
    41-6017088
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PROGRAM RELATED INVESTMENT LOAN AT COST 1,000,000 1,000,000

    TY 2021 OtherDecreasesSchedule
    Name:
    TARGET FOUNDATION
    EIN:
    41-6017088
    Description Amount
    ADJUSTMENT TO FINANCIAL STATEMENT 870


    TY 2021 OtherExpensesSchedule
    Name:
    TARGET FOUNDATION
    EIN:
    41-6017088
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 3,463 0   3,463


    TY 2021 OtherLiabilitiesSchedule
    Name:
    TARGET FOUNDATION
    EIN:
    41-6017088
    Description Beginning of Year - Book Value End of Year - Book Value
    ACCRUED EXCISE TAXES 1,164 1,339


    TY 2021 TaxesSchedule
    Name:
    TARGET FOUNDATION
    EIN:
    41-6017088
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 412 0   0