Overview
What is Mastercard Foundation?
The Mastercard Foundation, based in Toronto, Ontario, Canada, is a nonprofit organization committed to advancing youth education and promoting financial inclusion for financially disadvantaged individuals and communities. With a small team of three, the foundation partners with institutions like Ashesi University Foundation Canada and Ashesi University in Ghana to expand educational opportunities and drive systems change. Through this partnership, the foundation aims to engage at least 140 universities, grant scholarships to around 1,000 students, and support 400 young entrepreneurs through the Venture Incubator program. The foundation's mission transcends borders and influences education policies beyond Africa.
Official website here: www.mastercardfdn.org
What are the reviews and ratings of this charity?
The Mastercard Foundation is not currently rated by Charity Navigator. This absence of a rating is due to the foundation not being a 501(c)(3) IRS registered nonprofit, which precludes it from being evaluated under Charity Navigator's methodologies for Accountability & Finance, Impact & Measurement, Culture & Community, or Leadership & Adaptability. It is important to note that the lack of a rating does not convey either a positive or negative assessment of the organization.
While Charity Navigator is a prominent source for nonprofit ratings, its focus is on organizations with specific tax statuses and accountability metrics. Since the Mastercard Foundation does not fit these criteria, its impact and effectiveness might be underappreciated within this framework. The foundation operates independently, and its historical ratings may primarily relate to Accountability and Finance aspects available through limited reporting.
In the absence of user reviews from GreatNonprofits, there is limited publicly-sourced insight into personal experiences or the perceived impact of the Mastercard Foundation. Consequently, those interested in the foundation might seek further information from other sector-specific evaluations or directly from the organization's publications to gain a comprehensive understanding of its work and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Mastercard Foundation legitimate?
Mastercard Foundation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Mastercard Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,088,986
Professional Fundraising Fees: $0
Other Salaries and Wages: $38,746,991
For more financial information, click here
Official website here: www.mastercardfdn.org
What is the mission statement of Mastercard Foundation?
The Mastercard Foundation strives to advance youth education and promote financial inclusion for financially disadvantaged individuals and communities. Through partnerships like the one with Ashesi University Foundation Canada and Ashesi University in Ghana, the foundation aims to bring about systems change and influence education policies. This collaboration will enable Ashesi to expand its reach to include at least 140 universities and provide scholarships to approximately 1,000 students over a ten-year period. Additionally, the foundation's Venture Incubator program helps 400 young entrepreneurs scale their businesses.
Official website here: www.mastercardfdn.org
Who is the CEO of Mastercard Foundation?
Rosemary Nduhiu is the President/Ceo of Mastercard Foundation. The CEO's salary of Mastercard Foundation is $1,112,764 and their total compensation is $1,125,955.
Official website here: www.mastercardfdn.org
What is the revenue of Mastercard Foundation?
Mastercard Foundation's revenue in 2022 was $424,109,307.
Official website here: www.mastercardfdn.org
Who are the executives of Mastercard Foundation and what are their salaries?
The average compensation at Mastercard Foundation during 2022 was $13,945,326. There are 3 employees at Mastercard Foundation.
Here are 22 key members and their salaries (Mastercard Foundation's CEO's salary is $1,112,764 and their total compensation is $1,125,955):
- Compensation: $1,112,764
- Related: $0
- Other: $13,191
- Compensation: $604,499
- Related: $0
- Other: $3,745
- Compensation: $587,905
- Related: $0
- Other: $17,580
- Compensation: $537,268
- Related: $0
- Other: $18,524
- Compensation: $450,672
- Related: $0
- Other: $4,182
- Compensation: $417,283
- Related: $0
- Other: $7,656
- Compensation: $395,818
- Related: $0
- Other: $8,171
- Compensation: $385,886
- Related: $0
- Other: $4,785
- Compensation: $375,781
- Related: $0
- Other: $4,273
- Compensation: $347,448
- Related: $0
- Other: $3,078
- Compensation: $266,752
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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Official website here: www.mastercardfdn.org
Where can I find the form 990 for Mastercard Foundation?
Mastercard Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mastercardfdn.org
Learn more at the official website: www.mastercardfdn.org
Mission Statement of Mastercard Foundation
Mastercard Foundation, a philanthropic organization, is dedicated to advancing youth education and promoting financial inclusion for financially disadvantaged individuals and communities. The Foundation's mission is multifaceted, encompassing both academic pursuits and financial empowerment.
Through its partnership with Ashesi University Foundation Canada and Ashesi University in Ghana, Mastercard Foundation is expanding educational opportunities. This collaboration will allow Ashesi to broaden its reach to include at least 140 universities, driving systems change and influencing education policies not just in Africa but also beyond. Moreover, the Foundation is providing scholarships to approximately 1,000 Scholars over a ten-year period, enabling them to pursue higher education. Additionally, 400 young entrepreneurs will benefit from Ashesi's Venture Incubator program, which will help them scale their businesses.
In the financial inclusion realm, Mastercard Foundation is dedicated to empowering disadvantaged individuals and communities. By promoting financial inclusion, the organization aims to provide people with the tools and resources they need to improve their financial situations and build a better future for themselves and their families. The specifics of the Foundation's financial inclusion initiatives are not detailed in the provided information, but it is clear that Mastercard Foundation is making a significant impact by supporting education and financial empowerment.
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Impact
October, 2024
The Mastercard Foundation makes a significant impact by advancing youth education and promoting financial inclusion for financially disadvantaged individuals and communities. One of its key initiatives is its partnership with Ashesi University Foundation Canada and Ashesi University in Ghana. This collaboration aims to expand educational opportunities across at least 140 universities, fostering systems change and influencing education policies throughout Africa and beyond.
Through this initiative, the Foundation is committed to providing scholarships to approximately 1,000 scholars over a decade, significantly improving access to higher education for talented youth from underrepresented backgrounds. Additionally, it supports 400 young entrepreneurs through Ashesi's Venture Incubator program, enabling them to scale their ventures and contribute to local economies. By focusing on education and entrepreneurship, the Mastercard Foundation not only empowers individuals but also fosters sustainable development and economic growth within communities.
This information is meant to be a general summary of Mastercard Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $423,841,381
- Gross Receipts: $1,455,654,904
Assets and Liabilities:
- Total Assets: $29,242,305,789
- Total Liabilities: $7,993,373
- Net Assets: $29,234,312,416
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Organization Details
Founding Year
2005
Phone
(416) 214-2857Principal Officer
Rosemary Nduhiu
Website
www.mastercardfdn.orgNTEE Category
Code: Q32 - International
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