Mastercard Impact Fund
The Mastercard Impact Fund is a private foundation based in Purchase, New York. It supports charitable organizations through grantmaking, including work related to small business, data for social impact, employee giving matches, and financial security.
Mastercard Impact Fund at a glance
In short: Mastercard Impact Fund gave $62.1M across 52 grants in 2024 (avg $1.2M), top state Maryland. 21% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $62,073,582
- -15.3% vs 2023
- Grants made (2024)
- 52
- -18.8% vs 2023
- Average grant
- $1,193,723
- +4.2% vs 2023
- Median grant
- $375,000
- Total assets
- $143,230,488
- -21.9% vs 2023
- New grantees (estimate)
- 21% first-time grantees (11 of 52, 2024)
- Primary geography
- Maryland (28% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Mastercard Impact Fund
- Accepts unsolicited proposals
- No
- How to Apply
-
The fund does not accept unsolicited requests. It makes contributions only to preselected charitable organizations. The filing lists no application form or materials, and no award restrictions.
- Contact
Application contact: Shamina Singh
Mailing address: 2000 Purchase Street, Purchase, NY 10577
Phone: (914) 249-2000
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Mastercard Impact Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Dai Global LLC ($17.7M). Together the top 10 received $45.5M.
Grant Size Distribution
335 grants across all recorded years
The most common grant size was in the $1–5M range: 72 grants of 335 (21%).
Geographic Focus
Where this funder awards grants
The fund’s website reports a global footprint, with $432 million at work in 104 countries. In 2024, the largest reported shares of grant dollars by recipient state were Maryland (28%), an unspecified state or category (20%), the District of Columbia (18%), Georgia (11%), and New York (8%). Listed recipients also included organizations outside the United States.
Grant Distribution by State
Share of 2024 grant dollars across all 52 itemized grants.
States
Cities
Is Mastercard Impact Fund open to new grantees?
21%
first-time grantees, 2024
In 2024, 11 of 52 grantees (21%) were first-time recipients. First grants averaged $354K; repeat grants $1.4M. How we count
Medians: $225K first-time, $500K repeat.
- 63% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−20%). Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). 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 2020 to 2024, annual grant giving ranged from $62.0M (2022) to $77.5M (2021). In 2024 it made 52 grants totaling $62.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Dai Global LLC Bethesda, MD | Small Business | $17,689,631 |
| American Online Giving Foundation Inc Newark, DE | Employee Giving Match | $4,663,378 |
| Cooperative for Assistance and Relief Everywhere Inc (Care) Atlanta, GA | Small Business | $4,126,037 |
| The Aspen Institute Washington, DC | Other Strategic | $3,545,929 |
| Caribou Digital (UK) Ltd | Small Business | $3,500,000 |
| New Venture Fund Washington, DC | Data for Social Impact | $3,445,487 |
| Accion International Washington, DC | Small Business | $2,817,490 |
| AUC Consortium Atlanta, GA | Data for Social Impact | $2,159,600 |
| Fundacion Capital Fundak | Small Business | $1,897,653 |
| Caribou Digital (UK) Ltd (EUR) | Small Business | $1,702,807 |
Ready to take the next step with Mastercard Impact Fund?
Financial History
Multi-year comparison from IRS filings
The fund also reports direct charitable activity through CNOTES: beginning in 2022, it transferred funds to a depository account that invests in certificates of deposit and other interest-bearing deposits and money market funds at approved community development financial institutions and low-income-designated credit unions.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $143,230,488 | $31,332,063 | $61,489,371 | $62,073,582 | 52 | $76,394,415 | $6,332,063 | $5,628,361 |
| 2023 | $183,357,220 | $9,024,076 | $77,454,097 | $73,328,949 | 64 | $83,224,414 | $9,024,076 | $8,743,745 |
| 2022 | $237,082,053 | $70,446,588 | $42,275,015 | $61,996,171 | 73 | $64,092,766 | $3,446,588 | $10,564,250 |
| 2021 | $231,429,928 | $95,124,750 | $73,902,888 | $77,531,725 | 69 | $78,693,760 | $124,750 | $10,530,088 |
| 2020 | $207,268,769 | $96,050,288 | $69,765,696 | $63,035,790 | 77 | — | $1,050,288 | $10,237,137 |
Under IRS private-foundation payout rules, Mastercard Impact Fund reported a distributable amount of $5.6M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The fund’s website does not state a separate mission in the available information. Its 2024 grants identify purposes including small business, data for social impact, employee giving match, other strategic initiatives, and financial security.
Grantees’ stated missions illustrate the kinds of organizations it supports. Accion International says it works to create a fair and inclusive economy by expanding underserved people’s access to financial choices and opportunities. Community Reinvestment Fund says it seeks to expand economic opportunity for small businesses and communities by improving how capital and resources flow. The Aspen Institute describes its work as driving change through dialogue, leadership, and action to address societal challenges. New Venture Fund says it provides fiscal sponsorship and operational support to projects working across areas including conservation, education, global health, public policy, and civil rights.
Grantmaking
In 2024, the fund reported 52 grants totaling $62,073,582. Grant amounts ranged from $25,000 to $17,689,631, with a median of $375,000.
Among the largest reported grants were $17,689,631 to DAI Global LLC for small business; $4,663,378 to American Online Giving Foundation for an employee giving match; $4,126,037 to CARE for small business; $3,545,929 to The Aspen Institute for other strategic purposes; and $3,500,000 to Caribou Digital (UK) Ltd for small business. Other large grants included $3,445,487 to New Venture Fund for data for social impact and $2,817,490 to Accion International for small business.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Martina Hund-Mejean as director and chair, and Shamina Singh as director and president. Other directors are Walter MacNee, Jon Huntsman, and Tim Murphy. Listed vice presidents are Sandra Arkell, Millie Chun, and Dena Devaney; Tanya Southerland is assistant secretary, and Kristin Haynes is assistant treasurer.
Mastercard Impact Fund is led by Shamina Singh, Director & President on every filing since 2020; none of the 13 officers listed in 2024 report compensation.
Officers on the 2024 filing
Shamina Singh
Director & President
On filings since 2020
10 hrs/week
No compensation reported
Martina Hund-Mejean
Director & Chair
On filings since 2020
1 hr/week
No compensation reported
Walter Macnee
Director
On filings since 2020
1 hr/week
No compensation reported
Jon Huntsman
Director
New on the 2024 filing
5 hrs/week
No compensation reported
Tim Murphy
Director
New on the 2024 filing
1 hr/week
No compensation reported
Dena Devaney
Vice President
On filings since 2020
2 hrs/week
No compensation reported
Millie Chun
Vice President
On filings since 2020
0.5 hrs/week
No compensation reported
Sandra Arkell
Vice President
On filings since 2020
0.2 hrs/week
No compensation reported
Tanya Southerland
Assistant Secretary
On filings since 2020
20 hrs/week
No compensation reported
Latoya Murphy
Assistant Treasurer
On filings since 2022
20 hrs/week
No compensation reported
Indraneel Ganguly
Assistant Treasurer
On filings since 2023
No compensation reported
Vivian Zhou
Treasurer
On filings since 2023
0.2 hrs/week
No compensation reported
Kristin Haynes
Assistant Treasurer
New on the 2024 filing
25 hrs/week
No compensation reported
Former officers (5)
- Former: Issidor Illiev (2020–2023) — Assistant Treasurer
- Former: Michael Froman (2020–2023) — Director
- Former: Alfred Kibe (2020–2022) — Treasurer
- Former: Janet McGinness (2020–2022) — Secretary
- Former: Nicole Lindsay (2020–2022) — Assistant Treasurer
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Mastercard Impact Fund
How much does Mastercard Impact Fund give each year?
Mastercard Impact Fund gave $62.1M across 52 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $73.3M across 64 grants.
What is Mastercard Impact Fund's typical grant size?
Mastercard Impact Fund's median grant in 2024 was $375,000, and its average grant was $1,193,723, across 52 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Mastercard Impact Fund that year got $354K on average.
Where does Mastercard Impact Fund give grants?
Mastercard Impact Fund's top state is Maryland, with 28% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were District of Columbia (18%) and Georgia (11%). The most frequent recipient cities were New York, NY (9 grants), Washington, DC (8 grants), Atlanta, GA (3 grants) and St. Louis, MO (2 grants).
Does Mastercard Impact Fund give general operating support?
Not in 2024: none of the 52 grants with a stated purpose on Mastercard Impact Fund's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Small Business" (24 grants), "Data for Social Impact" (14 grants) and "Other Strategic" (5 grants).
Who are Mastercard Impact Fund's largest grantees?
Mastercard Impact Fund's largest 2024 grantees include Dai Global LLC ($17,689,631), American Online Giving Foundation Inc ($4,663,378) and Cooperative for Assistance and Relief Everywhere Inc (Care) ($4,126,037), according to its 2024 IRS Form 990-PF. Together they received 43% of its itemized 2024 grant dollars.
How large is Mastercard Impact Fund?
Mastercard Impact Fund reported $143.2M in total assets on its 2024 IRS Form 990-PF. It paid out $76.4M in qualifying distributions that year, against a required minimum of $5.6M (roughly 5% of its investment assets).
What does Mastercard Impact Fund fund?
The fund’s website does not state a separate mission in the available information. Its 2024 grants identify purposes including small business, data for social impact, employee giving match, other strategic initiatives, and financial security. See mission & focus areas ↑
How do I apply for a grant from Mastercard Impact Fund?
The fund does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Mastercard Impact Fund's EIN?
Mastercard Impact Fund's EIN (Employer Identification Number) is 82-4717403. IRS Form 990 filing data is available on this page for 2020–2024.
Does Mastercard Impact Fund accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Mastercard Impact Fund's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Mastercard Impact Fund funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/mastercard-impact-fund-morg_7ba3aafdf9ec4b48878aebaa17edd0df
BibTeX
@misc{grantable_824717403_2026,
author = {{Grantable}},
title = {{Mastercard Impact Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/mastercard-impact-fund-morg_7ba3aafdf9ec4b48878aebaa17edd0df},
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 Impact Fund'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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