MASTERCARD FOUNDATION (FKA The Mastercard Foundation)

Address
250 Yonge Street Suite 2400
TORONTO, ONTARIO M5B 2L7
CA
Contact
Website: http://www.mastercardfdn.org
Phone: +1 (416) 214-2857
Nonprofit
NTEE: T20 - Private Grantmaking Foundations
EIN: 98-0543843

Mission

MASTERCARD FOUNDATION SEEKS A WORLD WHERE EVERYONE HAS THE OPPORTUNITY TO LEARN AND PROSPER. THE FOUNDATION'S WORK IS GUIDED BY ITS MISSION TO ADVANCE LEARNING AND FINANCIAL INCLUSION FOR PEOPLE LIVING IN POVERTY.
 20172016201520142013
Basic features of the organization
Year of formation2005
Subsection code04
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$2,639,725.00$1,928,725.00   
Sum of reportable (W2/1099) compensation$3,129,137.00$2,638,866.00   
Number of employees12   
Number of people compensated >$100k1421   
Number of highly compensated contractors529   
Personnel
Abdalla, Zein
TitleDirector    
Name of key/compensated personZein Abdalla    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org2.0    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Alton, Sharon
TitleDIRECTOR, HUMAN RESOURCESDIRECTOR, HUMAN RESOURCES   
Name of key/compensated personSHARON ALTONSHARON ALTON   
Position of compensated person
Average hours per week working for org45.045.0   
Reportable compensation from org$174,779.00$118,112.00   
Other comp, non-reportable, from org and related orgs$8,037.00$7,175.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Amos, Valerie
TitleDirector    
Name of key/compensated personValerie Amos    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org2.0    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Baillie, Douglas
TitleBOARD VICE-CHAIRBOARD VICE-CHAIR   
Name of key/compensated personDOUGLAS DOUG BAILLIEDOUGLAS DOUG BAILLIE   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org3.03.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Calhoun, Craig
TitleDIRECTORDIRECTOR   
Name of key/compensated personCRAIG CALHOUNCRAIG CALHOUN   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.02.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Cooke, James
TitleDIRECTOR, FINANCE & ACCOUNTINGDIRECTOR, FINANCE & ACCOUNTING   
Name of key/compensated personJAMES COOKEJAMES COOKE   
Position of compensated person
Average hours per week working for org45.045.0   
Reportable compensation from org$169,980.00$152,368.00   
Other comp, non-reportable, from org and related orgs$8,749.00$9,197.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Cumming, Steve
TitleSR PROGRAM MGR, YOUTH LIVELIHO    
Name of key/compensated personSteve Cumming    
Position of compensated person
Average hours per week working for org40.0    
Reportable compensation from org$123,725.00    
Other comp, non-reportable, from org and related orgs$63,715.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Frazer, Jendayi
TitleDIRECTORDIRECTOR   
Name of key/compensated personJENDAYI FRAZERJENDAYI FRAZER   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.02.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Harpe, Stefan
TitleDeputy Director, Financial Inc    
Name of key/compensated personStefan Harpe    
Position of compensated person
Average hours per week working for org45.0    
Reportable compensation from org$150,543.00    
Other comp, non-reportable, from org and related orgs$30,869.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Ireland, Jay
TitleDirector    
Name of key/compensated personJay Ireland    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org2.0    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Kerr, Kim
TitleDEPUTY DIRECTOR, Edu &learningDEPUTY DIRECTOR, Edu &learning   
Name of key/compensated personKIM KERRKIM KERR   
Position of compensated person
Average hours per week working for org40.040.0   
Reportable compensation from org$145,851.00$137,862.00   
Other comp, non-reportable, from org and related orgs$8,039.00$8,335.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Koria, Alemayehu
TitleSR PROGRAM MGR, YOUTH LIVELIHOSR PROGRAM MGR, YOUTH LIVELIHO   
Name of key/compensated personALEMAYEHU KONDE KORIAALEMAYEHU KONDE KORIA   
Position of compensated person
Average hours per week working for org40.040.0   
Reportable compensation from org$135,926.00$130,487.00   
Other comp, non-reportable, from org and related orgs$8,327.00$9,200.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Lee, Meredith
TitleDEPUTY DIRECTOR, YOUTH LIVELIHDEPUTY DIRECTOR, YOUTH LIVELIH   
Name of key/compensated personMEREDITH LEEMEREDITH LEE   
Position of compensated person
Average hours per week working for org40.040.0   
Reportable compensation from org$136,016.00$128,910.00   
Other comp, non-reportable, from org and related orgs$8,891.00$9,199.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Leech, James
TitleBOARD CHAIRBOARD CHAIR   
Name of key/compensated personJAMES JIM LEECHJAMES JIM LEECH   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org6.06.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Materu, Peter
TitleDIRECTOR, EDU LEARNING & YOUTHDIRECTOR, EDU LEARNING & YOUTH   
Name of key/compensated personPETER MATERUPETER MATERU   
Position of compensated person
Average hours per week working for org45.045.0   
Reportable compensation from org$317,120.00$255,527.00   
Other comp, non-reportable, from org and related orgs$9,788.00$34,487.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
McLntyre, James
TitleProgram MGR, Education&learng    
Name of key/compensated personJames Mclntyre    
Position of compensated person
Average hours per week working for org40.0    
Reportable compensation from org$82,573.00    
Other comp, non-reportable, from org and related orgs$71,167.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Miles, Ann
TitleDIRECTOR, FINANCIAL INCLUSIONDIRECTOR, FINANCIAL INCLUSION   
Name of key/compensated personANN MILESANN MILES   
Position of compensated person
Average hours per week working for org45.045.0   
Reportable compensation from org$331,980.00$301,549.00   
Other comp, non-reportable, from org and related orgs$29,407.00$37,605.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Mogae, Festus
TitleDIRECTORDIRECTOR   
Name of key/compensated personFESTUS MOGAEFESTUS MOGAE   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.02.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Morrison, Don
Title BOARD SECRETARY/TREASURER   
Name of key/compensated person DON MORRISON   
Position of compensated person
Current individual trustee or director True   
Average hours per week working for org 3.0   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Olayan, Hutham
TitleBoard Secretary/TreasurerDIRECTOR   
Name of key/compensated personHUTHAM OLAYANHUTHAM OLAYAN   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org3.02.0   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Roy, Reeta
TitlePRESIDENT/CEOPRESIDENT/CEO   
Name of key/compensated personREETA ROYREETA ROY   
Position of compensated person
Average hours per week working for org60.060.0   
Reportable compensation from org$643,460.00$782,104.00   
Other comp, non-reportable, from org and related orgs$6,738.00-$161,273.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Tangelder, Mary
TitleSR PROGRAM MGR, YOUTH LIVELIHO    
Name of key/compensated personMary Tangelder    
Position of compensated person
Average hours per week working for org40.0    
Reportable compensation from org$135,775.00    
Other comp, non-reportable, from org and related orgs$9,189.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Tiemens, Toni
TitleDEPUTY DIRECTOR, COMMUNICATIONDEPUTY DIRECTOR, COMMUNICATION   
Name of key/compensated personTONI TIEMENSTONI TIEMENS   
Position of compensated person
Average hours per week working for org45.040.0   
Reportable compensation from org$153,979.00$146,215.00   
Other comp, non-reportable, from org and related orgs$8,740.00$9,204.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Wallace, Lindsay
TitleDIRECTOR, LEARNING & STRATEGYDIRECTOR, LEARNING & STRATEGY   
Name of key/compensated personLINDSAY WALLACELINDSAY WALLACE   
Position of compensated person
Average hours per week working for org45.045.0   
Reportable compensation from org$174,663.00$156,237.00   
Other comp, non-reportable, from org and related orgs$9,013.00$9,203.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Wong, Gui
Title DIRECTOR, IT   
Name of key/compensated person GUI WONG   
Position of compensated person
Average hours per week working for org 40.0   
Reportable compensation from org $138,060.00   
Other comp, non-reportable, from org and related orgs $9,278.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Woo, Peggy
TitleCFOCFO   
Name of key/compensated personPEGGY WOOPEGGY WOO   
Position of compensated person
Average hours per week working for org55.055.0   
Reportable compensation from org$252,767.00$191,435.00   
Other comp, non-reportable, from org and related orgs$5,222.00$4,867.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Purpose: mission, activities, & accomplishments
Mission or significant activitiesMASTERCARD FOUNDATION'S WORK IS GUIDED BY ITS MISSION TO ADVANCE LEARNING AND FINANCIAL INCLUSION FOR PEOPLE lIVING IN POVERTYTHE MASTERCARD FOUNDATION ADVANCES YOUTH LEARNING AND FINANCIAL INCLUSION TO CATALYZE PROSPERITY IN DEVELOPING COUNTRIES.   
Program service expenses, total$290,584,370.00$267,967,778.00   
Programs, including revenue & expenses
MasterCard Foundation partners with Save the Children Canada in Youth Learning. The objective of the Youth in Action program is to educate rural out-of-school youth in Burkina Faso, Egypt, Malawi, Uganda, and Ethiopia and to support them in transitioning to better employment opportunities in the agricultural sector.
Program expenses$10,031,246.00$9,980,178.00   
Grants and allocations made$10,031,246.00$9,980,178.00   
Program descriptionMasterCard Foundation partners with Save the Children Canada in Youth Learning. The objective of the Youth in Action program is to educate rural out-of-school youth in Burkina Faso, Egypt, Malawi, Uganda, and Ethiopia and to support them in transitioning to better employment opportunities in the agricultural sector.The MasterCard Foundation partners with Save the Children Canada in Youth Learning. The objective of the youth in action program is to educate rural out-of-school youth in Burkina Faso, Egypt, Malawi, Uganda, and Ethiopia and to support them in transitioning to better employment opportunities in the agricultural sector.   
MasterCard Foundation partners with University of British Columbia in Youth Learning. The objective of the Scholars Program is to support academically talented, yet financially disadvantaged students from Africa to complete tertiary education, while fostering their leadership skills and their capacity to give back to their communities. University of British Columbia is one of the partner universities in the Scholars Program and is supporting 77 undergraduate and 35 graduate students.
Program expenses$16,968,874.00    
Grants and allocations made$16,968,874.00    
Program descriptionMasterCard Foundation partners with University of British Columbia in Youth Learning. The objective of the Scholars Program is to support academically talented, yet financially disadvantaged students from Africa to complete tertiary education, while fostering their leadership skills and their capacity to give back to their communities. University of British Columbia is one of the partner universities in the Scholars Program and is supporting 77 undergraduate and 35 graduate students.    
MasterCard Foundation partners with University of Toronto in Youth Learning. The objective of the Scholars Program is to support academically talented, yet financially disadvantaged students from Africa to complete tertiary education, while fostering their leadership skills and their capacity to give back to their communities. University of Toronto is one of the partner universities in the Scholars Program and is supporting 67 undergraduate students.
Program expenses$11,777,945.00    
Grants and allocations made$11,777,945.00    
Program descriptionMasterCard Foundation partners with University of Toronto in Youth Learning. The objective of the Scholars Program is to support academically talented, yet financially disadvantaged students from Africa to complete tertiary education, while fostering their leadership skills and their capacity to give back to their communities. University of Toronto is one of the partner universities in the Scholars Program and is supporting 67 undergraduate students.    
THE MASTERCARD FOUNDATION PARTNERS WITH EQUITY GROUP FOUNDATION IN YOUTH LEARNING. The objective of the Wings to Fly program is to support 10,000 academically talented, yet financially disadvantaged students from Kenya to complete secondary education, while fostering their leadership skills and their capacity to give back to their communities.
Program expenses $8,974,486.00   
Grants and allocations made $8,974,486.00   
Program description THE MASTERCARD FOUNDATION PARTNERS WITH EQUITY GROUP FOUNDATION IN YOUTH LEARNING. The objective of the Wings to Fly program is to support 10,000 academically talented, yet financially disadvantaged students from Kenya to complete secondary education, while fostering their leadership skills and their capacity to give back to their communities.   
The MasterCard Foundation partners with KPMG East Africa Limited in Financial Inclusion. The objective of the Fund for Rural Prosperity is to improve the livelihoods and incomes of over 1,000,000 smallholder farmers by enabling financial service providers and agribusinesses to develop and expand access to their products, and promoting systemic change in agricultural finance.
Program expenses $9,823,770.00   
Grants and allocations made $9,823,770.00   
Program description The MasterCard Foundation partners with KPMG East Africa Limited in Financial Inclusion. The objective of the Fund for Rural Prosperity is to improve the livelihoods and incomes of over 1,000,000 smallholder farmers by enabling financial service providers and agribusinesses to develop and expand access to their products, and promoting systemic change in agricultural finance.   
Financial data
Revenue
Total revenue$127,535,564.00$127,229,109.00   
Revenue from contributions (total)$0.00$0.00   
Investment income, current yr$127,064,191.00$126,672,015.00   
Total revenue from grants, etc., current yr$0.00$0.00   
Other revenue, current yr$471,373.00$557,094.00   
Program service revenue (total)$0.00$0.00   
Other types of revenue
Royalties (total)$0.00$0.00   
Miscellaneous revenue (total)$0.00$0.00   
Net revenue from gaming (total)$0.00$0.00   
Investment income$105,917,738.00$93,026,865.00   
Net rental income$471,373.00$557,094.00   
Net income from fundraising events$0.00$0.00   
Net inventory sales (total)$0.00$0.00   
Expense categories (totals)
Total functional expenses: sum of all$303,912,742.00$277,608,573.00   
Total functional expenses: program service $290,584,370.00$267,967,778.00   
Total functional expenses: management and general$13,328,372.00$9,640,795.00   
Total functional expenses: fundraising$0.00$0.00   
Fees for services
Lobbying fees (total)$0.00$0.00   
Legal fees (total)$449,286.00$292,347.00   
Fundraising service fees (total)$0.00$0.00   
General management fees (total)$0.00$0.00   
Investment management fees (total)$0.00$0.00   
Assets and liabilities
Total assets$14,004,487,207.00$9,660,981,405.00   
Total assets, beginning of year$9,660,981,405.00$9,179,286,169.00   
Total liabilities$3,508,201.00$2,353,720.00   
Total liabilities, beginning of year$2,353,720.00$3,435,825.00   
Pledges & accounts receivable, net$0.00$0.00   
Loans & receivables from key persons$0.00$0.00   
Unrestricted net assets, end of yr$33,833,706.00$14,225,109.00   
Temporarily restricted net assets$13,967,145,300.00$9,644,402,576.00   
Permanently restricted net assets, end of yr$0.00$0.00   
Net assets$14,000,979,006.00$9,658,627,685.00   
Net assets, beginning of year$9,658,627,685.00$9,175,850,344.00   
Other liabilities$20,040.00$44,230.00   
Bond liabilities$0.00$0.00   
Intangible assets$607,244.00$344,221.00   
Other assets$0.00$0.00   
Investments: other securities$0.00$0.00   
Investments: publicly traded securities$13,967,145,300.00$9,646,301,816.00   
Cash: non-interest bearing$0.00$0.00   
Cash: non-interest bearing, beginning of year$0.00$0.00   
Investments -- program-related$0.00$0.00   
Escrow or custodial account liability$0.00$0.00   
Loans and other payables to key persons$0.00$0.00   
Grants payable$613,800.00$255,115.00   
Inventories for sale or use$0.00$0.00   
Other financial variables
Revenue less expenses-$176,377,178.00-$150,379,464.00   
Advertising (total)$0.00$0.00   
Savings & temp cash investment$31,460,481.00$9,227,182.00   
Accounts receivable, net$1,254,206.00$1,081,033.00   
Prepaid expenses & deferred charges$1,200,580.00$966,309.00   
Accounts payable & accrued expenses$2,874,361.00$2,054,375.00   
Deferred revenue$0.00$0.00   
Unsecured notes & loans to unrelated parties$0.00$0.00   
Secured mortgages and notes payable$0.00$0.00   
Total net assets or fund balances$14,000,979,006.00$9,658,627,685.00   
Depreciation, depletion, amortization$516,221.00$520,282.00   
Payment to affiliates$0.00$0.00   
Governance and accountability
Number of voting members97   
Number of independent voting members97   
Financial sheets were auditedTrueTrue   
Accrual accountingTrueTrue   
Tax year start date2017-01-012016-01-01   
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Indicators for schedules (selected)
Grants to domestic org/gov't >$5kTrueTrue   
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990   
IRS schema version2017v2.32016v3.0   
Filing identifier201841359349307884201701339349300640   
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