Target to Continue Charitable Giving

Minneapolis Target Corp. said it intends to continue giving 5% 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% of our income to nonprofit organizations that support the arts, education and social services," said Lena Michaud, a Target spokesperson, in an e-mail.

Last year Target gave $169 million nationally in cash and in-kind contributions.

Between 2004 and 2008, Target's annual giving rose steadily, from $96.3 million to $169 million. Arts organizations around the country are particularly dependent on Target for providing free or reduced admission to museums, theatrical performances and events.