The Mastercard Foundation is a 501(c)(4) nonprofit organization based in Toronto, Ontario, Canada. Established in 2005 and tax-exempt since April 2010, the Foundation advances youth education and promotes financial inclusion for financially disadvantaged persons and communities. The organization operates as a major global philanthropic institution with substantial assets and grantmaking capacity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$50.3B
+19.3% YoY
Annual Giving
$270.4M
+42.0% YoY
Grant Count
52
+20.9% YoY
Avg Grant Size
$5.2M
+17.5% YoY
Mission & Focus Areas
The Mastercard Foundation's mission centers on advancing youth education and promoting financial inclusion for financially disadvantaged persons and communities. Primary funding focus areas include:
- Youth education and post-secondary education
- Financial inclusion initiatives
- Human and social services
- Poverty alleviation
- Disaster preparedness and relief
- COVID-19 response and recovery
- Higher education
The Foundation's work extends to partnerships with educational institutions and development organizations across multiple continents, with particular emphasis on expanding education collaboration and strengthening capacity in underserved regions.
Grantmaking
The Foundation demonstrates significant grantmaking activity with typical award ranges of $6,751 to $183,689,253. Total giving in the most recent fiscal year (2024) reached $1,410,232,855.
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Geographic Focus
Where this funder awards grants
The Foundation's grantmaking extends globally with particular concentration in:
- Sub-Saharan Africa (20 countries)
- Canada
- Ghana
- Zimbabwe, Zambia, Tanzania, and Malawi
- United States (New York, District of Columbia, Massachusetts)
The Mastercard Foundation Fund for Resilience and Prosperity, a related initiative, operates in 20 countries in Sub-Saharan Africa with headquarters in Nairobi, Kenya.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year 2024:
- Total Assets: $50,320,893,084
- Total Revenue: $6,513,121,957
- Total Expenses: $1,633,430,674
- Total Giving: $1,410,232,855
- Total Liabilities: $35,400,000
As of Fiscal Year 2023:
- Total Assets: $42,194,078,620
- Total Revenue: $680,266,338
- Total Expenses: $1,533,523,522
The Foundation maintains substantial financial resources with assets exceeding $50 billion as of the most recent filing.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $50,320,893,084 | $42,194,078,620 | $29,242,305,789 |
| Revenue | $6,513,121,957 | $680,266,338 | $424,109,307 |
| Expenses | $1,633,430,674 | $1,533,523,522 | $1,377,301,146 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $6,512,353,970 | $679,990,425 | $423,841,381 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
203 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Arizona State University ($40,434,702), UNICEF The United Nations Children's Fund ($35,000,000), One Acre Fund ($22,673,980).
| Recipient | Purpose | Amount |
|---|---|---|
| African Center for Economic Transformation Washington, DC | YOUTH LEARNING | $1,582,941 |
| American University of Beirut New York, NY | YOUTH LEARNING | $12,000,000 |
| American University of Beirut New York, NY | YOUTH LEARNING | $10,319,223 |
| Arizona State University Arizona, AZ | YOUTH LEARNING | $40,434,702 |
| Brown University Rhode Island, RI | YOUTH LEARNING | $50,000 |
| CapitalPlus Exchange Corporation Illinois, IL | FINANCIAL INCLUSION | $7,000,000 |
| Carnegie Mellon University Pittsburgh, PA | YOUTH LEARNING | $898,631 |
| CorpsAfrica New York, NY | YOUTH LEARNING | $10,338,483 |
| CrossBoundary Washington DC, DC | FINANCIAL INCLUSION | $4,000,000 |
| Emerging Public Leaders Washington, DC | YOUTH LEARNING | $3,424,526 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| REETA ROY | PRESIDENT AND CEO | 60 | $1,335,867 |
| PETER MATERU | CHIEF PROGRAM OFFICER | 55 | $754,437 |
| DOUGLAS KASAMBALA | CHIEF FINANCIAL OFFICER | 55 | $640,431 |
| OLUWOLE ONABOLO | GENERAL COUNSEL | 55 | $577,806 |
| WARIKO WAITA | DIRECTOR PAC - ED.&TRANSITIONS | 55 | $526,548 |
| TINA MUPARADZI | EXEC. DIRECTOR-ED.&TRANSITIONS | 55 | $487,201 |
| JENNIFER RAMNATH | CHIEF, DIGITAL AND INFO. OFF. | 55 | $484,759 |
| SERGE AUGUSTE KOUAKOU | COUNTRY DIRECTOR, SENEGAL | 55 | $464,912 |
| AMOS ODERO | HEAD - PAN AFTRICA PROGRAMS | 55 | $452,003 |
| DAVID BAGENDA | SENIOR DIRECTOR, FINANCE | 55 | $449,916 |
| OMOTADE AKIN AINA | CHIEF IMPACT&RESEARCH OFFICER | 55 | $350,977 |
| JULIE GICHURU | CHIEF PUBLIC AFFAIRS&COMMUNICA | 55 | $340,902 |
| SCONAID MCGEACHIN | CHIEF PUBLIC AFFAIRS&COMMUNICA | 55 | $299,524 |
| LINDA OSODO | AG. CHIEF PEOPLE&CULTURE OFFIC | 55 | $239,494 |
| ZEIN ABDALLA | BOARD CHAIR | 6 | — |
| SEWIT AHDEROM | DIRECTOR | 3 | — |
| VALERIE AMOS | DIRECTOR | 3 | — |
| LOUISE ARBOUR | DIRECTOR | 3 | — |
| JENNIFER FONSTAD | DIRECTOR | 3 | — |
| TSEGA GEBREYES | DIRECTOR | 3 | — |
| JAY IRELAND | DIRECTOR | 3 | — |
| ELLEN JOHNSON SIRLEAF | DIRECTOR | 3 | — |
| MICHAEL SABIA | DIRECTOR | 3 | — |
| ROBIN WASHINGTON | DIRECTOR | 3 | — |
| CAROLE WAMUYU WAINAINA | DIRECTOR | 3 | — |
Recent News & Activity
Recent developments and announcements
In 2025, the Mastercard Foundation announced a $235 million investment in Canadian post-secondary educational institutions to advance reconciliation. This funding was directed to 30 post-secondary institutions across Canada, recognizing institutional strides toward reconciliation efforts.
Mastercard Foundation announces $235 million to post-secondary ...The Mastercard Foundation Fund for Resilience and Prosperity, a seven-year, $126 million fund established in 2014, continues to catalyze and scale the creation of dignified and fulfilling work opportunities for young women and men with limited financial means, including young people with disabilities and refugee youth, through small and medium enterprises (SMEs) across Sub-Saharan Africa.
Mastercard Foundation announces $235 million to post-secondary ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Mastercard Foundation fund?
The Mastercard Foundation's mission centers on advancing youth education and promoting financial inclusion for financially disadvantaged persons and communities. Primary funding focus areas include: • Youth education and post-secondary education • Financial inclusion initiatives • Human and social services • Poverty alleviation • Disaster preparedness and relief • COVID-19 response and recovery • Higher education The Foundation's work extends to partnerships with educational institutions and de…
How do I apply for a grant from Mastercard Foundation?
The Foundation demonstrates significant grantmaking activity with typical award ranges of $6,751 to $183,689,253. Total giving in the most recent fiscal year (2024) reached $1,410,232,855. The Foundation engages in strategic partnerships to advance its mission. Notable partnership initiatives include: • **Ashesi University Foundation Canada and Ashesi University in Ghana**: Expands education collaboration to include 140 universities • **UNICEF Partnership**: Leads procurement and delivery of va…
Where does Mastercard Foundation make grants?
The Foundation's grantmaking extends globally with particular concentration in: • Sub-Saharan Africa (20 countries) • Canada • Ghana • Zimbabwe, Zambia, Tanzania, and Malawi • United States (New York, District of Columbia, Massachusetts) The Mastercard Foundation Fund for Resilience and Prosperity, a related initiative, operates in 20 countries in Sub-Saharan Africa with headquarters in Nairobi, Kenya.
What size grants does Mastercard Foundation award?
In 2024, Mastercard Foundation awarded 52 grants totaling $270.4M — an average of about $5.2M per grant, based on its IRS Form 990 filings.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in Mastercard Foundation's focus areas in our free grants database
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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