Mastercard Impact Fund
- Assets
- $237.1m
- Revenue
- $70.4m
- Investments
- $1.4m
- Employees
- 0
- Location
- Purchase, NY
- Founding
- 12/2018
- Data as of
- 12/2022
- EIN
- 82-4717403
Organization Overview
Mastercard Impact Fund is located in Purchase, NY. The organization was established in 2018. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastercard Impact Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Mastercard Impact Fund generated $70.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $42.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Mastercard Impact Fund has awarded 308 individual grants totaling $329,886,771. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martina Hund-Mejean Director, Chair | 1 | $0 | |
Michael Froman Director | 5 | $0 | |
Walter Macnee Director | 1 | $0 | |
Shamina Singh Director, President | 10 | $0 | |
Sandra Arkell Vice President | 1 | $0 | |
Millie Chun Vice President | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackbaud | 12/30/22 | $297,830 |
Mission Measurement | 12/30/22 | $1,010,168 |
Rockefeller Philanthropy Advisors Inc | 12/30/22 | $386,862 |
Ruby Lam | 12/30/22 | $114,000 |
Rsm Us Llp | 12/30/22 | $87,384 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $67,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,443,738 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,850 |
| Total Revenue | $70,446,588 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $27,253 |
| Total operating and administrative expenses | $2,149,497 |
| Contributions, gifts, grants paid | $40,125,518 |
| Total expenses and disbursements | $42,275,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,000 |
| Savings and temporary cash investments | $217,995,153 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,577 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,446,332 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $17,517,991 |
| Total assets | $237,082,053 |
| Accounts payable and accrued expenses | $234,380 |
| Grants payable | $28,447,238 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $28,681,618 |
Grants Awarded
Over the last fiscal year, Mastercard Impact Fund has awarded $86,163,185 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
ACCELERATOR FOR AMERICA PURPOSE: ECONOMIC DEVELOPMENT | $1,000,000 |
ACCESS DEVELOPMENT SERVICES PURPOSE: SMALL BUSINESS | $544,952 |
ACCION INTERNATIONAL PURPOSE: SMALL BUSINESS | $5,200,000 |
AMERICAN INDIA FOUNDATION PURPOSE: INDIA FLAGSHIP | $200,000 |
AMERICAN RED CROSS PURPOSE: DISASTER RELIEF | $842,500 |
BANKABLE FRONTIER ASSOCIATES LLC PURPOSE: FINANCIAL SECURITY | $268,150 |