The Mastercard Foundation
DBA: MASTERCARD FOUNDATION
THE FOUNDATION'S MISSION IS TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES AS A MEANS OF RELIEVING POVERTY.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$6.5B
Total Expenses
$1.6B
Net Assets
$50.3B
Employees
1
Grants Paid
$1.4B
Program Expense Ratio
93.3%
This nonprofit profile presents IRS Form 990 tax filing data for The Mastercard Foundation (EIN: 98-0543843), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
The Mastercard Foundation is a 501(c)(4) nonprofit, founded in 2005. It is classified under NTEE code Q32 (International Economic Development), within the International, Foreign Affairs & National Security category. The organization has held tax-exempt status since 2010. In its 2024 filing, the organization reported $6.5B in total revenue, a 857.4% increase from the prior year, and $1.6B in total expenses. The organization employed 1 people. REETA ROY, PRESIDENT AND CEO, is the highest-compensated individual at $1,335,867. The organization runs 6 programs, totaling $1.5B in program expenses. 6 of 6 recommended governance policies are in place. Executive benefits include companion travel, housing allowance, personal services.
The Mastercard Foundation is classified under NTEE code Q32 (International Economic Development), which falls within the International, Foreign Affairs & National Security category. Its foundation type is 00.
Programs(Tax Year 2024)
6 records
The Mastercard Foundation operates 6 programs, with total program expenses of $1.5B. The Mastercard Foundation's largest program accounts for 58% of total program spending.
Mastercard Foundation's partnership with BRAC will support improving the lives of over 1.2 million adolescent girls and young women across seven African countries. This will be achieved by scaling BRAC's proven models of amplifying the agency of girls and young women through life skills training, increasing the productive participation of the poorest and most vulnerable young women through financial literacy, and accelerating access to finance for young women.
Mastercard Foundation's partnership with Transforming Teaching, Education and Learning (T-TEL) will support improving the quality of teaching and learning in Ghanaian secondary education institutions. This will enable 2.9 million secondary education graudates to obtain the 21st century skills and competencies needed for lifelong learning, employability, and adult life.
Mastercard Foundation's partnership with Inuit Tapiriit Kanatami will support the launch and long-term sustainability of Inuit Nunangat University (INU). INU will be the first Inuit institution grounded in Inuit language and culture and it will deliver innovative education and training relevant to youth and Inuit economic and community priorities.
OTHER FINANCIAL INCLUSION PROGRAMS
OTHER YOUTH LEARNING PROGRAMS
Other Program services Expenses incl. direct imple
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, The Mastercard Foundation's revenue has grown from $192.1M to $6.5B, a 3289.6% increase. Program expenses represent 93% of total spending.
Revenue increased 857.4% year-over-year, while expenses grew 6.5%. net assets rose to $50.3B, up 19.2% from the prior year. the organization reduced headcount by 1 employees.
The Mastercard Foundation derives 100% from investment income.
The Mastercard Foundation allocates 93% to programs, 7% to management and general.
Revenue grew by 857.4% while expenses grew by only 6.5%, suggesting improving operational efficiency.
The Mastercard Foundation distributed $1.4B in grants to other organizations and individuals, representing 86% of total expenses.
Over 6 filings from 2019–2024, The Mastercard Foundation grew revenue from $192.1M to $6.5B (+3289.6%) while maintaining a program expense ratio of 93%. During this period, the organization reduced from 2 to 1 employees.
The Mastercard Foundation holds $50.3B in total assets against $35.4M in liabilities (debt-to-asset ratio of 0%). The organization has 369.4 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $6.5B | $0 | $0 | $0 | $6.5B |
| 2023 | $680.3M | $0 | $0 | $0 | $680.0M |
| 2022 | $424.1M | $0 | $0 | $0 | $423.8M |
| 2021 | $422.9M | $0 | $0 | $0 | $422.7M |
| 2020 | $356.8M | $0 | $0 | $0 | $356.6M |
| 2019 | $192.1M | $0 | $0 | $0 | $191.9M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $1.6B | $1.5B | $109.6M | $0 | $1.4B |
| 2023 | $1.5B | $1.5B | $68.8M | $0 | $1.3B |
| 2022 | $1.4B | $1.3B | $51.7M | $0 | $1.2B |
| 2021 | $1.5B | $1.5B | $30.8M | $0 | $1.4B |
| 2020 | $947.7M | $916.9M | $30.8M | $0 | $886.7M |
| 2019 | $357.6M | $327.6M | $30.0M | $0 | $301.9M |
Program Expense Ratio
93.3%
Admin Expense Ratio
6.7%
Fundraising Efficiency
—
Operating Reserve
369.4 mo
People & Compensation(Tax Year 2024)
25 records
The Mastercard Foundation reported compensation for 25 officers and key employees. Total officer compensation was $7.4M, representing 0.5% of total expenses. 5 individuals received total compensation exceeding $500,000.
The Mastercard Foundation's highest-compensated individual received $1.3M in total compensation. Total officer compensation of $7.4M represents 0.5% of total expenses. 1 individual received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| REETA ROY | PRESIDENT AND CEO | Officer | 60.00 | $1,335,867 | $0 | $1,335,867 |
| PETER MATERU | CHIEF PROGRAM OFFICER | Officer | 55.00 | $754,437 | $0 | $754,437 |
| DOUGLAS KASAMBALA | CHIEF FINANCIAL OFFICER | Officer | 55.00 | $640,431 | $0 | $640,431 |
| OLUWOLE ONABOLO | GENERAL COUNSEL | Officer | 55.00 | $577,806 | $0 | $577,806 |
| WARIKO WAITA | DIRECTOR PAC - ED.&TRANSITIONS | Highest Comp | 55.00 | $526,548 | $0 | $526,548 |
| TINA MUPARADZI | EXEC. DIRECTOR-ED.&TRANSITIONS | Highest Comp | 55.00 | $487,201 | $0 | $487,201 |
| JENNIFER RAMNATH | CHIEF, DIGITAL AND INFO. OFF. | Key Employee | 55.00 | $484,759 | $0 | $484,759 |
| SERGE AUGUSTE KOUAKOU | COUNTRY DIRECTOR, SENEGAL | Highest Comp | 55.00 | $464,912 | $0 | $464,912 |
| AMOS ODERO | HEAD - PAN AFTRICA PROGRAMS | Highest Comp | 55.00 | $452,003 | $0 | $452,003 |
| DAVID BAGENDA | SENIOR DIRECTOR, FINANCE | Highest Comp | 55.00 | $449,916 | $0 | $449,916 |
| OMOTADE AKIN AINA | CHIEF IMPACT&RESEARCH OFFICER | Former | 55.00 | $350,977 | $0 | $350,977 |
| JULIE GICHURU | CHIEF PUBLIC AFFAIRS&COMMUNICA | Former | 55.00 | $340,902 | $0 | $340,902 |
| SCONAID MCGEACHIN | CHIEF PUBLIC AFFAIRS&COMMUNICA | Key Employee | 55.00 | $299,524 | $0 | $299,524 |
| LINDA OSODO | AG. CHIEF PEOPLE&CULTURE OFFIC | Key Employee | 55.00 | $239,494 | $0 | $239,494 |
| VALERIE AMOS | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| LOUISE ARBOUR | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| JENNIFER FONSTAD | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| TSEGA GEBREYES | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| JAY IRELAND | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| ELLEN JOHNSON SIRLEAF | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| MICHAEL SABIA | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| ROBIN WASHINGTON | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| CAROLE WAMUYU WAINAINA | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| SEWIT AHDEROM | DIRECTOR | Director | 3.00 | $0 | $0 | $0 |
| ZEIN ABDALLA | BOARD CHAIR | Director | 6.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
REETA ROY
Base Salary
$1,236,490
Bonus
—
Other Reportable
$99,377
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
PETER MATERU
Base Salary
$642,906
Bonus
—
Other Reportable
$111,531
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
DOUGLAS KASAMBALA
Base Salary
$575,224
Bonus
$49,613
Other Reportable
$15,594
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
OLUWOLE ONABOLO
Base Salary
$492,686
Bonus
—
Other Reportable
$85,120
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
WARIKO WAITA
Base Salary
$205,347
Bonus
—
Other Reportable
$321,201
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
TINA MUPARADZI
Base Salary
$434,459
Bonus
—
Other Reportable
$52,742
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
JENNIFER RAMNATH
Base Salary
$381,879
Bonus
$50,653
Other Reportable
$52,227
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
SERGE AUGUSTE KOUAKOU
Base Salary
$387,958
Bonus
—
Other Reportable
$76,954
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
AMOS ODERO
Base Salary
$116,242
Bonus
—
Other Reportable
$335,761
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
DAVID BAGENDA
Base Salary
$213,468
Bonus
—
Other Reportable
$236,448
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
OMOTADE AKIN AINA
Base Salary
$270,868
Bonus
—
Other Reportable
$80,109
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
JULIE GICHURU
Base Salary
$278,487
Bonus
—
Other Reportable
$62,415
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
SCONAID MCGEACHIN
Base Salary
$224,752
Bonus
$46,523
Other Reportable
$28,249
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
LINDA OSODO
Base Salary
$218,092
Bonus
—
Other Reportable
$21,402
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
Top Contractors(Tax Year 2024)
5 records
The Mastercard Foundation reported 5 contractors receiving over $100,000, with total contractor payments of $48.5M.
| Name | Service | Compensation |
|---|---|---|
| Deloitte LLP | Consulting Services | $16,848,289 |
| Mastercard Foundation Asset Managem | Asset Management Se | $15,220,844 |
| McKinsey and Company Inc Africa Pr | Consulting Services | $8,092,867 |
| Elixirr Consulting Limited | IT Consulting | $4,426,239 |
| Charleston Travel Limited | TRAVEL SERVICES | $3,933,520 |
Governance & Compliance(Tax Year 2024)
The Mastercard Foundation has 6 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 11 members, 11 of whom are independent.
The Mastercard Foundation's financial statements are audited, an audit committee oversees the process, accounting follows GAAP standards.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
52 records
The Mastercard Foundation awarded $270.4M across 52 grants to organizations. Top recipients include Arizona State University (Arizona, AZ) — $40.4M for youth learning; UNICEF The United Nations Children's Fund (New York, NY) — $35.0M for youth learning; One Acre Fund (Highland Park, IL) — $22.7M for financial inclusion.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| Arizona State University | Arizona, AZ | $40.4M | YOUTH LEARNING |
| UNICEF The United Nations Children's Fund | New York, NY | $35.0M | YOUTH LEARNING |
| One Acre Fund203668110 | Highland Park, IL | $22.7M | FINANCIAL INCLUSION |
| Inkomoko (formerly African Entrepreneurship Collec460743201 | Washington, WA | $18.1M | FINANCIAL INCLUSION |
| University of California Berkeley943067788 | Berkeley, CA | $15.0M | YOUTH LEARNING |
| Global Energy Alliance for People & Planet (GEAPP) | — | $12.2M | YOUTH LEARNING |
| American University of Beirut135596846 | New York, NY | $12.0M | YOUTH LEARNING |
| CorpsAfrica452470692 | New York, NY | $10.3M | YOUTH LEARNING |
| American University of Beirut135596846 | New York, NY | $10.3M | YOUTH LEARNING |
| Heifer Project International351019477 | Arkansas, AR | $9.8M | YOUTH LEARNING |
| Tufts University042103634 | Medford, MA | $9.4M | YOUTH LEARNING |
| Global Give Back Circle770708340 | New York, NY | $8.7M | YOUTH LEARNING |
| United Nations Capital Development Fund | New York, NY | $7.2M | YOUTH LEARNING |
| CapitalPlus Exchange Corporation300199985 | Illinois, IL | $7.0M | FINANCIAL INCLUSION |
| United Nations Development Programme | New York, NY | $6.4M | FINANCIAL INCLUSION |
| Educate841648607 | Denver, CO | $5.8M | YOUTH LEARNING |
| CrossBoundary453807303 | Washington DC, DC | $4.0M | FINANCIAL INCLUSION |
| Heifer Project International351019477 | Arkansas, AR | $4.0M | FINANCIAL INCLUSION |
| Refugee Economic Inclusion Coalition922664974 | MIDDLETOWN, DE | $3.9M | FINANCIAL INCLUSION |
| Generation471073442 | Washington DC, WA | $3.6M | YOUTH LEARNING |
Showing 20 of 52 grants.
Foreign Activities(Tax Year 2024)
Activities span Sub-Saharan Africa, North America, Europe (Including Iceland and Greenland).
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| Sub-Saharan Africa | — | — |
| North America | — | — |
| Europe (Including Iceland and Greenland) | — | — |
Supplemental Financial Data(Tax Year 2024)
The endowment stands at $727.4M.
Filing History(Tax Years 2010–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $6.5B | $1.6B | $50.3B |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $680.3M | $1.5B | $42.2B |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $424.1M | $1.4B | $29.2B |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $422.9M | $1.5B | $30.8B |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $356.8M | $947.7M | $31.5B |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $192.1M | $357.6M | $27.6B |
| 2010–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does The Mastercard Foundation do?
THE FOUNDATION'S MISSION IS TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES AS A MEANS OF RELIEVING POVERTY.
How much revenue does The Mastercard Foundation have?
The Mastercard Foundation reported $6,513,121,957 in total revenue for tax year 2024, up 857.4% from the prior year.
Who is the highest-paid executive at The Mastercard Foundation?
REETA ROY, PRESIDENT AND CEO, received $1,335,867 in total compensation as of tax year 2024.
Is The Mastercard Foundation a 501(c)(3)?
The Mastercard Foundation is classified as a 501(c)(4) tax-exempt organization.
How many employees does The Mastercard Foundation have?
The Mastercard Foundation has 1 employees as of tax year 2024.
What type of nonprofit is The Mastercard Foundation?
The Mastercard Foundation is classified under NTEE code Q32 (International Economic Development), within the International, Foreign Affairs & National Security category. It is a 501(c)(4) tax-exempt organization.
Is The Mastercard Foundation audited?
Yes, The Mastercard Foundation's financial statements are audited, and the organization has an audit committee.
Does The Mastercard Foundation give grants?
Yes, The Mastercard Foundation distributed $1,410,232,855 in grants to other organizations and individuals in tax year 2024. Top recipients include Arizona State University, UNICEF The United Nations Children's Fund, One Acre Fund.
Does The Mastercard Foundation operate internationally?
Yes, The Mastercard Foundation conducts activities outside the United States. Activities span Sub-Saharan Africa, North America, Europe (Including Iceland and Greenland).
Data Source
Prepared by: Deloitte LLP
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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