The Mastercard Foundation EIN 98-0543843 Form 990 (PDF) Claim this org

The Mastercard Foundation

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Empowers youth through education and promotes financial inclusion for disadvantaged individuals and communities. For fiscal year 2024 it reported $6.5B in revenue, $1.6B in expenses, and $50.3B in net assets.Pt I

Founded
2005
Type
Membership association · International
Location
Canada
Website
www.mastercardfdn.org
Filings
5 on file (2020–2024)
Revenue
$6.5BFY2024
Expenses
$1.6B
Net assets
$50.3B
People
25
Filings
5
Updates
0
More identity details & actions ⌄
EIN  98-0543843 Membership association Canada Founded 2005 1 follower
Form 990 (PDF)
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Size
$100M+
What they do
Empowers youth through education and promotes financial inclusion for disadvantaged individuals and communities.
Leadership
Reeta Roy · President and CEO · $1.3M
Money in and out
$6.5B revenue, $1.6B expenses
Bottom line
+75% operating surplus
Membership & operating revenue · FY2024
Total revenue
$6.5B
Pt VIII · Ln 12
Total expenses
$1.6B
Pt IX · Ln 25
Net assets
$50.3B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4.9B
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.07
Operating surplus
+75%
revenue over expenses▲ +160% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
5%
of spending is salaries & benefits▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$6.5B
FY2024▲ +857%
Expenses
$1.6B
FY2024▲ +7%
Total assets
$50.3B
FY2024▲ +19%
Total liabilities
$35.4M
FY2024▲ +53%
Total revenue
$6.5B
Pt VIII · Ln 12
Total expenses
$1.6B
Pt IX · Ln 25
Net assets
$50.3B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4.9B
Total assetsPt X · Ln 16$50.3B
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

3 program services account for $114.0M of program spending, described in the organization's own filed words · FY2024.
01

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…

$42.4Mprogram expense
02

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.

$35.9Mprogram expense
03

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…

$35.7Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Mastercard Foundation
EINHdr · item D98-0543843
Principal addressHdr · item CCanada,
WebsiteHdr · item Jwww.mastercardfdn.org
Year of formationHdr · item L2005
State of legal domicileHdr · item M
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFInternational (Q32)
Ruling yearIRS BMFApr 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President and CEO
$1,335,867Pt VII · Sec A
Chief Program Officer
$754,437Pt VII · Sec A
Chief Financial Officer
$640,431Pt VII · Sec A
General Counsel
$577,806Pt VII · Sec A
Director Pac - Ed.&transitions
$526,548Pt VII · Sec A
Exec. Director-Ed.&transitions
$487,201Pt VII · Sec A
Chief, Digital and Info. Off.
$484,759Pt VII · Sec A
Country Director, Senegal
$464,912Pt VII · Sec A

Reeta Roy’s $1.3M as President and CEO is at the 98th percentile of top reported officer pay among 88 $100M+ international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Reeta Roy$1,335,867$1,290,974$1,112,764$1,048,777$1,042,780
Peter Materu$754,437$548,626$497,866
Peter Materu$750,217$604,499
David Marlow$559,153$661,409
Douglas Kasambala$640,431$404,895
Serge Auguste Kouakou$632,769$450,672
Nathalie Gabala$436,878$587,905$475,000$434,023
Oluwole Onabolo$577,806$442,559

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Mastercard Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income100%$6.5B
Other revenue$768K
Total revenueLn 12$6.5B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$1.5B
Management & general7%$109.6M
Total functional expensesLn 25$1.6B

Balance Sheet

Part X · end of year
CashLn 1$557.3M
Total assetsLn 16$50.3B
Total liabilitiesLn 26$35.4M
Total net assetsLn 32$50.3B
Months of cash on handcomputed4.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $50.3B · Operating expenses/yr $1.6B
369.3 months
Where the money goes
Program services
Program services $1.5B · Total expenses $1.6B
93%
Management & General
Management & general $109.6M · Total expenses $1.6B
7%
Fundraising
Fundraising $0 · Total expenses $1.6B
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $6.5B
0%
Government reliance
Government grants — · Total revenue $6.5B
Earned-income share
Program service revenue $0 · Total revenue $6.5B
0%
Investment reliance
Investment income $6.5B · Total revenue $6.5B
+100%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.6B
0%
Growth & trend
Revenue growth (YoY)
This year $6.5B · Prior year $680.3M
+857%
Revenue CAGR
FY2020 $356.8M · FY2024 $6.5B
+107%
Net-asset trend (YoY)
End of year $50.3B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $6.5B · Expenses $1.6B
+75%
Liabilities-to-Assets
Total liabilities — · Total assets $50.3B
Net-asset ratio
Net assets $50.3B · Total assets $50.3B
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $48.1B · Other securities (Pt X, ln 12) $1.6B · Total assets (Pt X, ln 16) $50.3B
99%
People & payroll
Highest Reported Total Compensation
Individual Reeta Roy · Reported title PRESIDENT AND CEO · Highest reported compensation $1.3M · Total expenses $1.6B
0.08%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $79.9M · Total expenses $1.6B
5%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 7%
Revenue growth 857%
Investment management fee ratio 0.04%
Legal fee ratio 0.2%
Accounting fee ratio 0.04%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 205 grants · $1.7B · 2020–2024
UNICEF the United Nations Children's FundFY2024$35,000,000
One Acre FundIL · FY2024$22,673,980
InkomokoWA · FY2024$18,133,840
American University of BeirutNY · FY2024$12,000,000
CorpsafricaDC · FY2024$10,338,483
American University of BeirutNY · FY2024$10,319,223
Heifer Project InternationalAR · FY2024$9,804,050
Trustees of Tufts CollegeMA · FY2024$9,434,798
Global Give Back CircleNY · FY2024$8,713,490
United Nations Capital Development FundFY2024$7,211,644
Capitalplus Exchange CorporationIL · FY2024$7,000,000
United Nations Development ProgrammeFY2024$6,434,649
EducateCO · FY2024$5,752,101
CrossboundaryFY2024$4,000,000
Heifer Project InternationalAR · FY2024$3,998,234
See all 205 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$6.5B revenue · viewing · ⤓ 990 PDF
FY2023$680.3M revenue · ⤓ 990 PDF
FY2022$424.1M revenue · ⤓ 990 PDF
FY2021$422.9M revenue · ⤓ 990 PDF
FY2020$356.8M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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