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Mastercard Foundation at a glance

· Public charity

Mastercard Foundation

The foundation's mission is to advance youth education and promote financial inclusion for financially disadvantaged persons and communities as a means of relieving poverty.

$1.4B
Granted FY2024still arriving
52
Grants FY2024still arriving
15
States reached
$40M
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.

International$1.1BEducation$548MCommunity Improvement$174MYouth Development$95MPhilanthropy$37MHuman Services$13MEnvironment$12MHealth$2.7MOther$0
02FY2024 · 52 grants

Where the money goes

Grants by size, and the largest recipients.

How this is measured
The 52 grants below total $270,371,759, the rows itemized in this filing. The $1,410,232,855 headline is the total grant expense on the return; the other $1,139,861,096 is giving the schedule does not break out (grants under the $5,000 itemization floor, grants to individuals, grants on other schedules). Every figure below describes the itemized rows only.

By grant size · FY2024

  • $10k–50k1 grant · $20k
  • $50k–250k14 grants · $1.6M
  • $250k+37 grants · $269M
$1,582,941
Median grant
15
States reached
$50.3B
Total assets
Largest grants
RecipientAmount
Arizona State University$40,434,702
UNICEF The United Nations Children's Fund$35,000,000
One Acre Fund$22,673,980
Inkomoko (formerly African Entrepreneurship Collec$18,133,840
University of California Berkeley$14,999,999
Global Energy Alliance for People & Planet (GEAPP)$12,199,289
American University of Beirut$12,000,000
CorpsAfrica$10,338,483
American University of Beirut$10,319,223
Heifer Project International$9,804,050
Tufts University$9,434,798
Global Give Back Circle$8,713,490
United Nations Capital Development Fund$7,211,644
CapitalPlus Exchange Corporation$7,000,000
United Nations Development Programme$6,434,649
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY18–24, $28.4M) land where the poverty rate runs at 17%, against an area that typically sits at 10%. 100% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 10%CorpsAfrica: $12.7M → 17%CorpsAfrica: $10.3M → 17%CorpsAfrica: $3.1M → 17%CorpsAfrica: $1.5M → 17%CorpsAfrica: $257k → 17%Spence-Chapin: $125k → 17%Spence-Chapin: $125k → 17%Spence-Chapin: $92k → 17%CENTER FOR GLOBAL DEVELOPMENT: $149k → 14%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

NH
WA
MN
IL
MI
NY
MA
OR
IN
PA
NJ
CT
RI
CA
CO
VA
MD
DE
AZ
AR
NC
DC
GA
TX

Grants abroad, by region: $1.1B on the FY2024 return

Schedule F, as filed: 4 regions. The IRS asks for region and purpose, not the recipient, so no country or grantee can be named here.

Sub-Saharan Africa$786M · 69% · 231 grants

Stated purpose: YOUTH LEARNING · FINANCIAL INCLUSION

North America (Canada and Mexico)$184M · 16% · 50 grants

Stated purpose: YOUTH LEARNING · FINANCIAL INCLUSION

Europe (including Iceland and Greenland)$172M · 15% · 31 grants

Stated purpose: YOUTH LEARNING · FINANCIAL INCLUSION

Middle East and North Africa$1.1M · 0% · 1 grant

Stated purpose: YOUTH LEARNING

How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving. Grants abroad on Schedule F are filed by region, purpose and amount with no recipient name, so they are shown by region and cannot be placed on the country map or matched to a grantee.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

99%of every dollar goes to organizations it has funded before.
$1.9B · 76 repeat orgs$29M to everyone else

Grantees it renews have grown median revenue +28% since the first grant, against -2% for those funded once.

76 repeat relationships: 36 still active in FY2024, 40 since wound down; 10 grantees were first funded in FY2024 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

76
24

Total granted

$1.9B
$11M

Median revenue growth · since first grant

+28%
-2%

Still filing today

75%
67%

New vs renewed · share of each year

In FY2024, 93% of grant dollars renewed an existing relationship; $18M went to new ones.

50%100%’17’18’19’20’21’22’23’24
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’17’18’19’20’21’22’23’24
InternationalEducationHuman ServicesPhilanthropySocial ScienceCommunity ImprovementOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • CM
    Carnegie Mellon University
    8× · 2017–2024 · $271M · revenue +15%
  • AU
    AMERICAN UNIVERSITY OF BEIRUT
    8× · 2017–2024 · $66M · revenue +14%
  • I
    INKOMOKO
    7× · 2018–2024 · $56M · revenue +274% · 73% of their budget

Funded once

  • IB
    International Bank for Reconstruction and Develop
    one grant, 2017 · $4.4M
  • IF
    INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
    one grant, 2022 · $1.6M · revenue +23%
  • GM
    GSMA MOBILE FOR DEVELOPMENT FOUNDATION INC
    one grant, 2018 · $1.1M · revenue +17%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
International Development Enterprises

See schedule o for a more detailed description of ide's mission statement and achievements.

International
2
International Crisis Group

Crisis group works to prevent and resolve deadly conflict around the world by informing and influencing the perceptions and actions of policymakers and other key conflict actors. to this end, we endeavour to talk to all sides and provide…

International
3
World Resources Institute

Wri is committed to creating change that improves people's lives and ensures the natural world can thrive. (see schedule o)wri's bold vision requires a formula for success we call "count it. change it. scale it.":- count it: our work is…

International
4
International Aids Vaccine Initiative Inc

A nonprofit scientific research organization that develops vaccines and antibodies for hiv, tuberculosis, and emerging infectious diseases.

International
5
Nuru International

Nuru is a global collective that enables inclusive and sustainable prosperity by identifying communities at the stability tipping point, strengthening rural livelihoods and market systems, and fostering stabilizing connections that repair…

International
6
Global Impact Investing Network Inc

The global impact investing network, inc. is dedicated to increasing the scale and effectiveness of impact investing to solve systemic problems facing people and the planet. impact investments are investments made into companies,…

Philanthropy
7
Partners in Food Solutions

Improve the food value chain in developing countries by mobilizing corporate volunteers to share knowledge and expertise with small and growing food processors.

International
8
Central Indiana Corporate Partnership Inc

Central indiana corporate partnership (cicp) is an alliance of indiana's business and research university leaders coming together to foster long-term prosperity for the region. cicp's mission is to transform the economy of indiana in order…

Community Improvement
9
Activate Global Inc

Activate empowers scientists to reinvent the world by bringing their research to market. activate partners with u.s. based funders, research institutions, and other pillars of the hard technology community to help entrepreneurial…

Environment
10
The George Washington University

The mission of the george washington university (gw) is to educate individuals in liberal arts, languages, sciences, learned professions, and other courses and subjects of study, and to conduct scholarly research and publish the findings…

Education
11
International Budget Partnership

Ibp works with civil society, governments, international institutions and the private sector to bring about a world in which empowered citizens participate in open, inclusive public budgeting processes to shape policies and practices that…

International
12
Actionaid Usa

Actionaid is an international network building a just, equitable, and sustainable world in solidarity with communities on the frontlines of poverty and injustice. actionaid usa is the u.s. branch of actionaid international, which works in…

Social Science
How this is measured
The grantee most central to the portfolio’s shape is The Global Development Incubator Inc; the most unlike its peers is Conflict and Development Foundation. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

90 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 90 of the 117 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

24
Load-bearing (≥25% of a budget)
18
Early backer (in before they grew)
86/90
Grantees still filing
60/90
Grew since first funded

Where the money sits, by cause and then by grantee

UNICEF The United Nations Children's Fund: $794,530,860 · OtherUNICEF The United Nations Children's FundCarnegie Mellon University: $270,656,471 · OtherCarnegie Mellon UniversityArizona State University: $104,224,395 · OtherArizona State University+40 more: $216,584,398 · Other+40 moreINKOMOKO: $55,984,555 · InternationalINKOMOKOGRASSROOTS BUSINESS PARTNERS INC: $42,737,488 · InternationalGRASSROOTS BUSINESS …HEIFER PROJECT INTERNATIONAL: $35,836,235 · InternationalHEIFER PROJECT INTER…ONE ACRE FUND: $28,809,402 · InternationalONE ACRE FUNDBRAC USA INC: $21,833,827 · InternationalBRAC USA INCTECHNOSERVE INC: $20,248,395 · InternationalTECHNOSERVE INCUNITED NATIONS DEVELOPMENT CORPORATION: $19,216,101 · InternationalUNITED NATIONS DEVEL…Mercy Corps: $17,356,169 · InternationalINTERNATIONAL YOUTH FOUNDATION: $14,666,767 · InternationalGLOBAL COMMUNITIES: $12,151,628 · International+30 more: $76,185,457 · International+30 moreAMERICAN UNIVERSITY OF BEIRUT: $65,681,307 · EducationSHINING HOPE FOR COMMUNITIES INC: $27,744,596 · EducationTrustees of Tufts College: $10,535,872 · EducationGLOBAL GIVE BACK CIRCLE: $9,958,672 · EducationJOHNS HOPKINS UNIVERSITY: $6,439,445 · EducationCornell University: $5,962,178 · EducationWellesley College: $5,247,344 · Education+14 more: $12,688,064 · EducationCORPSAFRICA: $27,931,231 · Human Services+3 more: $590,429 · Human ServicesCAPITALPLUS EXCHANGE CORPORATION: $13,749,548 · Community ImprovementTHE RESOLUTION PROJECT INC: $4,228,077 · Community Improvement+1 more: $200,000 · Community ImprovementBATONGA FOUNDATION: $6,506,144 · PhilanthropyTHE SKOLL FOUNDATION: $919,036 · PhilanthropyCONNECT HUMANITY: $765,554 · PhilanthropyROCKEFELLER PHILANTHROPY ADVISORS INC: $706,842 · Philanthropy+1 more: $60,000 · PhilanthropyGENERATION YOU EMPLOYED INC: $6,265,592 · Youth Development
Other$1,385,996,124International$345,026,024Education$144,257,478Human Services$28,521,660Community Improvement$18,177,625Philanthropy$8,957,576Youth Development$6,265,592

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetCarnegie Mellon University: $270,656,471 over 8y, 9.6% of budgetAMERICAN UNIVERSITY OF BEIRUT: $65,681,307 over 8y, 3.9% of budgetINKOMOKO: $55,984,555 over 7y, 73% of budgetGRASSROOTS BUSINESS PARTNERS INC: $42,737,488 over 4y, 13% of budgetHEIFER PROJECT INTERNATIONAL: $35,836,235 over 6y, 9.2% of budgetONE ACRE FUND: $28,809,402 over 5y, 9.1% of budgetCORPSAFRICA: $27,931,231 over 5y, 97% of budgetSHINING HOPE FOR COMMUNITIES INC: $27,744,596 over 3y, 86% of budgetBRAC USA INC: $21,833,827 over 4y, 76% of budgetTECHNOSERVE INC: $20,248,395 over 5y, 6.5% of budgetUNITED NATIONS DEVELOPMENT CORPORATION: $19,216,101 over 2y, 29% of budgetMercy Corps: $17,356,169 over 4y, 1.9% of budgetEDUCATION DEVELOPMENT CENTER INC: $17,343,829 over 7y, 3.9% of budgetINTERNATIONAL YOUTH FOUNDATION: $14,666,767 over 4y, 24% of budgetCAPITALPLUS EXCHANGE CORPORATION: $13,749,548 over 4y, 44% of budgetGLOBAL COMMUNITIES: $12,151,628 over 3y, 3.8% of budgetTrustees of Tufts College: $10,535,872 over 6y, 0.7% of budgetGLOBAL GIVE BACK CIRCLE: $9,958,672 over 3y, 49% of budgetACCION INTERNATIONAL: $9,109,202 over 3y, 15% of budgetAFRICAN CENTER FOR ECONOMIC TRANSFORMATION: $8,569,181 over 7y, 44% of budgetEMERGING PUBLIC LEADERS INC: $8,562,832 over 5y, 87% of budgetCOOPERATIVE LEAGUE OF THE UNITED STATES OF AMERICA: $7,226,605 over 4y, 5.1% of budgetBATONGA FOUNDATION: $6,506,144 over 5y, 83% of budgetInternational Rescue Committee INC: $6,492,855 over 5y, 0.2% of budgetJOHNS HOPKINS UNIVERSITY: $6,439,445 over 2y, 0.0% of budgetGENERATION YOU EMPLOYED INC: $6,265,592 over 2y, 12% of budgetKIVA MICROFUNDS: $6,250,336 over 4y, 11% of budgetEducate: $5,977,101 over 2y, 59% of budgetCornell University: $5,962,178 over 4y, 0.0% of budgetWellesley College: $5,247,344 over 7y, 0.5% of budgetTHE GLOBAL DEVELOPMENT INCUBATOR INC: $4,403,616 over 4y, 20% of budgetROOT CAPITAL INC: $4,319,521 over 4y, 5.6% of budgetTHE RESOLUTION PROJECT INC: $4,228,077 over 8y, 32% of budgetKEPLER INC: $4,226,050 over 3y, 36% of budgetYOUTH DEVELOPMENT LABS INC: $3,352,213 over 3y, 54% of budgetDUKE UNIVERSITY: $3,145,519 over 4y, 0.1% of budgetTHE SMALL ENTERPRISE EDUCATION AND PROMOTION NETWORK INC: $2,967,035 over 3y, 38% of budgetThe Commons Project Foundation: $2,668,880 over 2y, 1.9% of budgetTHE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY: $2,483,401 over 2y, 0.0% of budgetBOULDER INSTITUTE OF MICROFINANCE: $2,355,899 over 2y, 59% of budgetCHILDFUND INTERNATIONAL USA: $2,074,307 over 2y, 0.9% of budgetINTERNATIONAL CENTER FOR RESEARCH ON WOMEN: $1,917,628 over 2y, 16% of budgetMawazo Institute: $1,667,692 over 3y, 45% of budgetINTERNATIONAL FOOD POLICY RESEARCH INSTITUTE: $1,625,605 over 1y, 1.6% of budgetVILLAGE HEALTH WORKS: $1,453,203 over 4y, 13% of budgetSOCIAL SCIENCE RESEARCH COUNCIL: $1,389,638 over 2y, 3.7% of budgetGSMA MOBILE FOR DEVELOPMENT FOUNDATION INC: $1,133,553 over 1y, 5.5% of budgetMassachusetts Institute of Technology: $880,657 over 2y, 0.0% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

  • Who funds Carnegie Mellon University ↗
  • Who funds AMERICAN UNIVERSITY OF BEIRUT ↗
  • Who funds INKOMOKO ↗
  • Who funds GRASSROOTS BUSINESS PARTNERS INC ↗
  • Who funds HEIFER PROJECT INTERNATIONAL ↗
  • Who funds ONE ACRE FUND ↗
  • Who funds CORPSAFRICA ↗
  • Who funds SHINING HOPE FOR COMMUNITIES INC ↗
  • Who funds BRAC USA INC ↗
  • Who funds TECHNOSERVE INC ↗
  • Who funds UNITED NATIONS DEVELOPMENT CORPORATION ↗
  • Who funds Mercy Corps ↗
  • Who funds EDUCATION DEVELOPMENT CENTER INC ↗
  • Who funds INTERNATIONAL YOUTH FOUNDATION ↗
  • Who funds CAPITALPLUS EXCHANGE CORPORATION ↗
  • Who funds GLOBAL COMMUNITIES ↗
  • Who funds Trustees of Tufts College ↗
  • Who funds GLOBAL GIVE BACK CIRCLE ↗
  • Who funds ACCION INTERNATIONAL ↗
  • Who funds AFRICAN CENTER FOR ECONOMIC TRANSFORMATION ↗
  • Who funds EMERGING PUBLIC LEADERS INC ↗
  • Who funds COOPERATIVE LEAGUE OF THE UNITED STATES OF AMERICA ↗
  • Who funds BATONGA FOUNDATION ↗
  • Who funds International Rescue Committee INC ↗
  • Who funds JOHNS HOPKINS UNIVERSITY ↗
  • Who funds GENERATION YOU EMPLOYED INC ↗
  • Who funds KIVA MICROFUNDS ↗
  • Who funds Educate ↗
  • Who funds Cornell University ↗

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Gates FoundationThe Rockefeller Found…The Ford FoundationWellspring Philanthro…Conrad N Hilton Found…Foundation to Promote…Family Health Interna…The William & Flora H…New Venture FundJohn D and Catherine …Mulago FoundationRockefeller Philanthr…
Gates FoundationWA48.3× affinity26 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Gates Foundation · The Rockefeller Foundation · The Ford Foundation · Wellspring Philanthropic Fund Inc · Conrad N Hilton Foundation · Foundation to Promote Open Society · Family Health International Inc · The William & Flora Hewlett Foundation · New Venture Fund · John D and Catherine T Macarthur Foundation · Mulago Foundation · Rockefeller Philanthropy Advisors Inc

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization Mastercard Foundation funds: left to right is the share of its income from government, bottom to top the share from Mastercard Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 40%6%25%56%100%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →median 13%
  • Education Development Center Inc: 65% of income from government
  • Mercy Corps: 47% of income from government
  • Global Communities: 44% of income from government
  • Massachusetts Institute of Technology: 35% of income from government
  • International Youth Foundation: 17% of income from government
  • West African Research Association: 13% of income from government
  • Trustees of Tufts College: 13% of income from government
  • Johns Hopkins University: 12% of income from government
  • Root Capital Inc: 9% of income from government
  • President and Fellows of Harvard College: 7% of income from government
  • Wellesley College: 1% of income from government
no gov moneyreceives it· size = income
4get no government money at all
15report government grants on their 990 we could not trace to a source (not plotted)
1rely on government for over half their income
typical government reliance, FY20–25
How this is measured
Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 117 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

How this is measured
Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

Generated from the IRS Form 990 e-file return for fiscal year 2024, released 2024. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

Play a game based on Mastercard’s filings →

More from the funding graph

The unnamed billions
grants reported with no recipient in the public record
The regranting layer
51% of grant dollars land in the regranting layer
The DAF merry-go-round
$9.7B circulates between donor-advised funds
The endowment market
who holds foundation money, and what just moved
The camps
funders cluster by geography, not ideology
By state
where grant money is based, and what stays home