MINNEAPOLIS, Oct. 12 /PRNewswire/ -- Target today announced it is providing $24,436,693 in funding to 85,439 schools across the country through the fall 2010 payouts of its Take Charge of Education® (TCOE) program. Since its inception in 1997, this distinctive program has donated $298,296,638 to more than 125,000 schools nationwide.
"Education is a top priority for Target and our guests, and programs such as Take Charge of Education help us work locally to put more kids on the path to graduation," said Laysha Ward, president of community relations, Target. "This innovative program allows guests to make a real difference in their communities simply by using their Target REDcard. As a result, together with our guests, Target is able to help more than 85,000 K-12 schools across the country."
According to a report by the Giving USA Foundation, giving to education declined an estimated 3.6 percent in 2009(1), making initiatives such as TCOE increasingly important within the U.S. education system. Recently, Target announced its plans to donate more than $500 million by the end of 2015 to education, doubling the retailer's support to-date for a total of more than $1 billion. This financial commitment includes funding generated by TCOE.
Target's TCOE donations provide schools a source of unrestricted funds, allowing each local school the ability to apply the funds where they are most needed. From new books and school supplies to classroom technology and extracurricular activities such as field trips, TCOE funding can be used to make a valuable difference in students' lives.
Take Charge of Education payouts are distributed in the fall to celebrate the start of a new school year and offer schools additional support to help with unmet needs. For information about the TCOE program please visit Target.com/tcoe. Cardholders and school representatives can call 1-800-316-6142 to enroll, select a school or check the status of payouts.
About Take Charge of Education
Take Charge of Education allows Target guests to easily designate an eligible K-12 school of their choice and have Target donate an amount equal to one percent of their REDcard(SM) (Target® Visa® Credit Card, Target Credit Card(SM) and Target Debit Card(SM)) purchases made at Target and Target.com*. In addition, Target also donates 0.5 percent of Target Visa Credit Card purchases made everywhere else where Visa credit cards are accepted.
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,752 stores in 49 states nationwide and at Target.com. Target is committed to providing a fun and convenient shopping experience with access to unique and highly differentiated products at affordable prices. Since 1946, the corporation has given 5 percent of its income through community grants and programs, like Take Charge of Education. Today, that giving equals more than $3 million a week. For more information about Target's commitment to corporate responsibility, visit Target.com/hereforgood.
*Subject to Take Charge of Education program rules. See Target.com/tcoe or call 1-800-316-6142 for details.
REDcard®: Existing Target Credit Cards, Target Visa® Credit Cards, and Target Debit Cards, and new Target Credit Cards and Target Debit Cards. New cards subject to application approval.
(1) American Association of Fundraising Counsel, "Giving USA", 2010
SOURCE Target Corporation