Mastercard Foundation
The Mastercard Foundation is a Canadian foundation, established in 2006 according to its website. Its work supports youth learning and financial inclusion, with a major focus in Africa, and supports Indigenous youth in Canada in education and pathways to meaningful work. Its 2024 filing classifies it as a public charity.
Mastercard Foundation at a glance
In short: Mastercard Foundation gave $270.4M across 52 grants in 2024 (avg $5.2M), top state New York. 25% of 2024 grantees were new. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $270,371,759
- +42.0% vs 2023
- Grants made (2024)
- 52
- +20.9% vs 2023
- Average grant
- $5,199,457
- +17.5% vs 2023
- Median grant
- $1,365,152
- Total assets
- $50,320,893,084
- +19.3% vs 2023
- New grantees (estimate)
- 25% first-time grantees (12 of 48, 2024)
- Primary geography
- New York (35% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Mastercard Foundation
- Contact
Phone: (647) 208-5154
Website: https://mastercardfdn.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Mastercard Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Arizona State University ($40.4M). Together the top 10 received $200.5M.
Grant Size Distribution
205 grants across all recorded years
The most common grant size was in the $1–5M range: 61 grants of 205 (30%).
Geographic Focus
Where this funder awards grants
The Foundation’s website describes work in Africa and Canada, and says its education and transitions work has spanned more than 33 African countries. It also works with partner organizations around the world. In its 2024 grants, recipient-state shares were NY 35%, AZ 15%, IL 11%, WA 8%, and CA 6%.
Grant Distribution by State
Share of 2024 grant dollars across all 52 itemized grants.
States
Cities
Is Mastercard Foundation open to new grantees?
25%
first-time grantees, 2024
In 2024, 12 of 48 grantees (25%) were first-time recipients. First grants averaged $2.6M; repeat grants $6.7M. How we count
Medians: $211K first-time, $2.2M repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2019–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $66.2M (2019) to $782.2M (2021). In 2024 it made 52 grants totaling $270.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Arizona State University Arizona, AZ | Youth Learning | $40,434,702 |
| UNICEF The United Nations Children's Fund New York, NY | Youth Learning | $35,000,000 |
| One Acre Fund Highland Park, IL | Financial Inclusion | $22,673,980 |
| Inkomoko (formerly African Entrepreneurship Collec Washington, WA | Financial Inclusion | $18,133,840 |
| University of California Berkeley Berkeley, CA | Youth Learning | $14,999,999 |
| Global Energy Alliance for People & Planet (GEAPP) | Youth Learning | $12,199,289 |
| American University of Beirut New York, NY | Youth Learning | $12,000,000 |
| CorpsAfrica New York, NY | Youth Learning | $10,338,483 |
| American University of Beirut New York, NY | Youth Learning | $10,319,223 |
| Heifer Project International Arkansas, AR | Youth Learning | $9,804,050 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $50,320,893,084 | $6,513,121,957 | $1,633,430,674 | $270,371,759 | 52 | $6,512,353,970 |
| 2023 | $42,194,078,620 | $680,266,338 | $1,533,523,522 | $190,341,626 | 43 | $679,990,425 |
| 2022 | $29,242,305,789 | $424,109,307 | $1,377,301,146 | $169,595,385 | 28 | $423,841,381 |
| 2021 | $30,798,947,472 | $422,948,756 | $1,496,169,880 | $782,198,623 | 39 | $422,712,823 |
| 2020 | $31,477,405,206 | $356,789,232 | $947,737,147 | $250,844,662 | 43 | $356,574,632 |
| 2019 | $27,598,914,371 | $192,147,513 | $357,605,773 | $66,241,794 | 44 | $191,932,785 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The mission stated in the Foundation’s 2024 filing is to advance youth education and promote financial inclusion for financially disadvantaged people and communities as a means of relieving poverty. Its website describes its vision as “Opportunity for all to learn and prosper” and its mission as advancing youth learning and financial inclusion in developing countries, while supporting Indigenous youth in Canada.
The Foundation’s programs include education and vocational training, technology-enabled learning and digital literacy, and financial services for entrepreneurs and small businesses. Its Young Africa Works strategy focuses on young people in Africa, particularly young women, refugees and displaced people, and young people with disabilities. In Canada, the EleV initiative aims to support 100,000 Indigenous young people to complete post-secondary education and transition to meaningful livelihoods by 2030.
The Foundation says it works through partner organizations and is committed to partnering with African-led organizations and Indigenous institutions. Examples from its 2024 grants include universities and education organizations, as well as organizations working in financial inclusion. The grantees describe their own missions: One Acre Fund says it works with rural self-help groups to help chronically hungry farm families in Africa address hunger and poverty; Heifer Project International says it works with marginalized small-scale farmers worldwide to address hunger and poverty; and Global Give Back Circle says it supports gender equality by economically empowering at-risk adolescent girls and helping them use their skills to give back to their communities.
Grantmaking
In 2024, the Foundation reported 52 grants totaling $270,371,759. Grants ranged from $20,492 to $40,434,702, with a median of $1,365,152. Among its largest grants were $40,434,702 to Arizona State University for youth learning; $35 million to UNICEF for youth learning; $22,673,980 to One Acre Fund for financial inclusion; $18,133,840 to Inkomoko for financial inclusion; and $14,999,999 to the University of California Berkeley for youth learning.
The Foundation’s website provides a Program Development Guide for potential partners. It says partners implement programs and services, and that funded activities must align with the Foundation’s charitable purposes of promoting youth education and alleviating poverty through financial inclusion. For multi-year projects, the Foundation describes reviewing financial and narrative reports, conducting project visits and meetings, and carrying out annual due diligence, including checks related to anti-terrorism legislation.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Reeta Roy as President and CEO; Peter Materu as Chief Program Officer; Douglas Kasambala as Chief Financial Officer; and Oluwole Onabolo as General Counsel. The website identifies Sewit Ahderom as President and CEO and describes the leadership team as based in Africa and Canada.
Mastercard Foundation is led by Reeta Roy, President & CEO on every filing since 2019; 14 of 25 officers listed in 2024 are compensated.
Officers on the 2024 filing
Reeta Roy
President & CEO
On filings since 2019
60 hrs/week
$1M (2019) → $1.3M (2024)
Tina Muparadzi
Executive Director-Ed. & Transitions
Chief People & Culture Officer → Executive Director-Ed. & Transitions, 2024
On filings since 2020
55 hrs/week
$315K (2020) → $487K (2024)
Wariko Waita
Director Pac - Executive Director & Transitions
Senior Director & Corporate Com → Director Pac - Executive Director & Transitions, 2024
On filings since 2023
55 hrs/week
$511K (2023) → $527K (2024)
Zein M Abdalla
Board Chair
Director → Board Chair, 2020
On filings since 2019
6 hrs/week
No compensation reported
Serge Auguste Kouakou
Country Director & Senegal
On filings since 2022
55 hrs/week
$451K (2022) → $465K (2024)
David Bagenda
Senior Director & Finance
New on the 2024 filing
55 hrs/week
$450K (2024)
Jay Ireland
Director
On filings since 2019
3 hrs/week
No compensation reported
Jennifer Fonstad
Director
On filings since 2019
3 hrs/week
No compensation reported
Louise Arbour
Director
On filings since 2019
3 hrs/week
No compensation reported
Valerie Amos
Director
Director → Board Chair, 2023
Board Chair → Director, 2024
On filings since 2019
3 hrs/week
No compensation reported
Ellen Johnson Sirleaf
Director
On filings since 2020
3 hrs/week
No compensation reported
Michael Sabia
Director
On filings since 2020
3 hrs/week
No compensation reported
Robin Washington
Director
On filings since 2021
3 hrs/week
No compensation reported
Sewit Ahderom
Director
On filings since 2023
3 hrs/week
No compensation reported
Tsega Gebreyes
Director
On filings since 2023
3 hrs/week
No compensation reported
Carole Wamuyu Wainaina
Director
New on the 2024 filing
3 hrs/week
No compensation reported
Peter Materu
Chief Program Officer
On filings since 2019
55 hrs/week
$486K (2019) → $754K (2024)
Julie Gichuru
Chief Public Affairs & Communications
Head of Public Affairs & Communications → Chief Public Affairs & Communications, 2021
On filings since 2020
55 hrs/week
$330K (2020) → $341K (2024)
Amos Odero
Head - Pan Aftrica Programs
Lead, Regional Strategy & Plan → Head - Pan Aftrica Programs, 2024
On filings since 2021
55 hrs/week
$443K (2021) → $452K (2024)
Douglas Kasambala
Chief Financial Officer
On filings since 2023
55 hrs/week
$405K (2023) → $640K (2024)
Linda Osodo
Ag. Chief People & Culture Officer
Chief People & Culture Officer → Ag. Chief People & Culture Officer, 2024
On filings since 2023
55 hrs/week
$192K (2023) → $239K (2024)
Oluwole Onabolo
General Counsel
On filings since 2023
55 hrs/week
$443K (2023) → $578K (2024)
Jennifer Ramnath
Chief, Digital & Info. Officer
New on the 2024 filing
55 hrs/week
$485K (2024)
Omotade Akin Aina
Chief Impact & Research Officer
New on the 2024 filing
55 hrs/week
$351K (2024)
Sconaid McGeachin
Chief Public Affairs & Communications
New on the 2024 filing
55 hrs/week
$300K (2024)
Former officers (22)
- Former: Craig Calhoun (2019–2023) — Director
- Former: Douglas Doug Baillie (2019–2023) — Director
- Former: Nathalie Gabala (2020–2023) — Executive Director & Pan Africa
- Former: Samuel Adela (2021–2023) — Country Director & Ethiopia
- Former: Shona Bezanson (2021–2023) — Director & Business Development
- Former: Hassan El Bouhali (2022–2023) — Strategic Advisor & Digital Eco
- Former: Omotade Akin-Aina (2023) — Chief Impact & Research Officer
- Former: Rosy Fynn (2023) — Country Director & Nigeria
- Former: David Marlow (2019–2022) — Chief Operations Officer Former
- Former: Jendayi Frazer (2019–2022) — Director
- Former: Daniel Hailu (2020–2022) — Executive Director & Country Pr
- Former: James Ireland (2022) — Director
- Former: Rosemary Nduhiu (2022) — Acting Chief Operations Officer
- Former: Festus G. Mogae (2019–2021) — Director
- Former: James Jim Leech (2019–2021) — Director
- Former: Andrew Park (2020) — Head of Strategic Operations
- Former: Sulley Gariba (2020) — Head of Impact
- Former: James Cooke (2019) — Head of Finance Operations
- Former: Kimberley KERR (2019) — Education Lead
- Former: Lindsay Wallace (2019) — Head of Impact
- Former: Sergio Gomez (2019) — Head of It
- Former: Sharon Alton (2019) — Head of Hr & Canada
Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $1.3M, to Reeta Roy (President and CEO). 14 officers or directors reported compensation on that filing.
Frequently asked questions about Mastercard Foundation
How much does Mastercard Foundation give each year?
Mastercard Foundation gave $270.4M across 52 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $190.3M across 43 grants.
What is Mastercard Foundation's typical grant size?
Mastercard Foundation's median grant in 2024 was $1,365,152, and its average grant was $5,199,457, across 52 grants on its 2024 IRS Form 990. Organizations receiving their first grant from Mastercard Foundation that year got $2.6M on average.
Where does Mastercard Foundation give grants?
Mastercard Foundation's top state is New York, with 35% of the grant dollars itemized on its 2024 IRS Form 990. The next largest states were Arizona (15%) and Illinois (11%). The most frequent recipient cities were New York, NY (11 grants), Washington, DC (6 grants), Washington, WA (2 grants) and Berkeley, CA (2 grants).
Does Mastercard Foundation give general operating support?
Not in 2024: none of the 52 grants with a stated purpose on Mastercard Foundation's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Youth Learning" (41 grants) and "Financial Inclusion" (11 grants).
Who are Mastercard Foundation's largest grantees?
Mastercard Foundation's largest 2024 grantees include Arizona State University ($40,434,702), UNICEF The United Nations Children's Fund ($35,000,000) and One Acre Fund ($22,673,980), according to its 2024 IRS Form 990. Together they received 36% of its itemized 2024 grant dollars.
How large is Mastercard Foundation?
Mastercard Foundation reported $50.3B in total assets on its 2024 IRS Form 990. Its revenue that year was $6.5B.
What does Mastercard Foundation fund?
The mission stated in the Foundation’s 2024 filing is to advance youth education and promote financial inclusion for financially disadvantaged people and communities as a means of relieving poverty. See mission & focus areas ↑
How do I apply for a grant from Mastercard Foundation?
Mastercard Foundation has no public application process in the sources Grantable reviewed. Check mastercardfdn.org for current guidelines, or contact the foundation directly before submitting a request.
What is Mastercard Foundation's EIN?
Mastercard Foundation's EIN (Employer Identification Number) is 98-0543843. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2019 (received by the IRS April 20, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS April 13, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 3, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 11, 2025)
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Mastercard Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/mastercard-foundation-morg_b2af6586faff454dbd37abfc4d4f47be
BibTeX
@misc{grantable_980543843_2026,
author = {{Grantable}},
title = {{Mastercard Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/mastercard-foundation-morg_b2af6586faff454dbd37abfc4d4f47be},
note = {Accessed 2026-10-10. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Mastercard Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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