The Mastercard Foundation
- Assets
- $29.2b
- Revenue
- $424.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Founding
- 04/2010
- Data as of
- 12/2022
- EIN
- 98-0543843
Organization Overview
The Mastercard Foundation is located in null. The organization was established in 2010. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Mastercard Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastercard Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Mastercard Foundation generated $424.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $1.4b during the year ending 12/2022. While expenses have increased by 30.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mastercard Foundation has awarded 273 individual grants totaling $1,482,837,873. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MASTERCARD FOUNDATION'S PARTNERSHIP WITH ASHESI UNIVERSITY FOUNDATION CANADA AND ASHESI UNIVERSITY IN GHANA IS AN EDUCATION INITIATIVE THAT WILL ENABLE ASHESI TO EXPAND ITS EDUCATION COLLABORATIVE TO INCLUDE AT LEAST 140 UNIVERSITIES. THE COLLABORATIVE DRIVES SYSTEMS CHANGE AND INFLUENCES EDUCATION POLICIES IN AFRICA AND BEYOND. THE INITIATIVE WILL ALSO PROVIDE SCHOLARSHIPS TO APPROXIMATELY 1,000 SCHOLARS OVER TEN YEARS AND ENABLE 400 YOUNG PEOPLE TO SCALE THEIR VENTURES THROUGH ASHESI'S VENTURE INCUBATOR PROGRAM.
MASTERCARD FOUNDATION'S PARTNERSHIP WITH AFRICAN LEADERSHIP GROUP WILL ENABLE 2 MILLION YOUNG MEN AND WOMEN IN AFRICA TO SECURE DIGNIFIED AND FULFILLING WORK. IT WILL ALSO ENABLE THE DEVELOPMENT OF A SUSTAINABLE YOUTH-LED ENTREPRENEURSHIP AND EMPLOYMENT MODEL ACROSS AFRICA, A MODEL FOR SUSTAINABLE EDUCATION FINANCING, AND A BLUEPRINT FOR AN ACCELERATED WORK CREATION PROGRAM.
MASTERCARD FOUNDATION'S PARTNERSHIP WITH UNICEF WILL PLAY A PIVOTAL ROLE IN THE SUCCESS OF THE SAVING LIVES AND LIVELIHOODS INITIATIVE, LEADING THE PROCUREMENT OF VACCINE DOSES AND THEIR UPSTREAM DELIVERY FROM MANUFACTURER TO PORT OF ENTRY. BY PROVIDING VACCINES TO OVER 50 MILLION PEOPLE IN AFRICA, THE PROGRAM WILL ENSURE A SAFE ENABLING ENVIRONMENT FOR AFRICAN YOUTH TO PURSUE THEIR EDUCATION AND ENTREPRENEURIAL GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reeta Roy President/ceo | Officer | 0 | $1,112,764 |
Peter Materu Chief Program Officer | Officer | 0 | $604,499 |
Nathalie Gabala Executive Director, Pan Africa | 0 | $587,905 | |
Daniel Hailu Executive Director, Country Pr | 0 | $537,268 | |
Serge Auguste Kouakou Country Director, Senegal | 0 | $450,672 | |
Julie Gichuru Chief Public Affairs And Commu | Officer | 0 | $417,283 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Engage Communications Ltd Public Relations Ser | 12/30/22 | $11,626,147 |
Deloitte Llp Consulting Services | 12/30/22 | $5,687,311 |
Mckinsey And Company Inc Africa Pr Consulting Services | 12/30/22 | $5,301,200 |
Mckinsey Co Inc E Africa Ptyltd E Consulting Services | 12/30/22 | $12,956,664 |
Mckinsey And Company Africa Pty L Consulting Services | 12/30/22 | $2,400,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $210,729,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $267,926 |
| Net Gain/Loss on Asset Sales | $213,112,025 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $424,109,307 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $169,595,385 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,053,063,157 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,088,986 |
| Compensation of current officers, directors, key employees. | $1,170,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,746,991 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,505,970 |
| Payroll taxes | $70,159 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,523,286 |
| Fees for services: Accounting | $276,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,279,666 |
| Advertising and promotion | $0 |
| Office expenses | $6,890,700 |
| Information technology | $1,088,362 |
| Royalties | $0 |
| Occupancy | $3,292,774 |
| Travel | $7,997,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,819,295 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,643,865 |
| Insurance | $359,573 |
| All other expenses | $0 |
| Total functional expenses | $1,377,301,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $181,170,930 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,500,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,278,343 |
| Net Land, buildings, and equipment | $3,233,897 |
| Investments—publicly traded securities | $29,043,419,408 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,702,426 |
| Other assets | $0 |
| Total assets | $29,242,305,789 |
| Accounts payable and accrued expenses | $7,993,373 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,993,373 |
| Net assets without donor restrictions | $190,893,008 |
| Net assets with donor restrictions | $29,043,419,408 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,242,305,789 |
Grants Awarded
Over the last fiscal year, The Mastercard Foundation has awarded $169,595,385 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
THE WORLD BANK PURPOSE: YOUTH LEARNING | $12,705,025 |
WELLESLEY COLLEGE PURPOSE: Youth Learning | $454,205 |
INTERNATIONAL RESCUE COMMITTEE INC PURPOSE: YOUTH Learning | $581,773 |
AMERICAN UNIVERSITY OF BEIRUT PURPOSE: Youth Learning | $3,590,256 |
CAPITALPLUS EXCHANGE CORPORATION PURPOSE: FINANCIAL INCLUSION | $3,374,774 |
ARIZONA STATE UNIVERSITY PURPOSE: Youth Learning | $6,750,382 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|