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MASTERCARD FOUNDATION

Form 990Tax year 2023EIN 98-0543843501(c)(4)
Filed May 7, 2024 · period ending Dec 31, 2023
IRS record
End-of-year assets

$42,194,078,620

Net assets $42,170,917,519

Total revenue

$680,266,338

Expenses $1,533,523,522

Officer compensation

$4,565,137

27 listed · 15 paid

Contractors listed

5

107 paid over $100K

Organization
Legal name
MASTERCARD FOUNDATION
Website
www.mastercardfdn.org
Principal officer
DOUGLAS KASAMBALA
Phone
6472085154
Formed
2005
State of domicile
—
Employees
2
Volunteers
—
Address
250 Yonge Street Suite 2400 · TORONTO, ONTARIO, M5B 2L7
Mission
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.
Financial activity
Contributions$0
Program service revenue$0
Investment income$679,990,425
Total revenue$680,266,338
Grants paid$1,333,637,982
Salaries and benefits$72,620,679
Officer compensation$4,565,137
Total expenses$1,533,523,522
Investment management fees$0
Legal fees$3,223,455
Accounting fees$1,252,845
Other fees for services$87,935,947
Beginning assets$29,242,305,789
Ending assets$42,194,078,620
Liabilities$23,161,101
Net assets$42,170,917,519
Publicly traded securities$41,603,281,597
Other securities$363,396,474
Officers, directors and key employees
Compensation by person
  • REETA ROY$1M
  • Peter Materu$760K
  • Serge Auguste Kouakou$646K
  • Julie Gichuru$577K
  • WARIKO WAITA$518K
  • Tina Muparadzi$467K
  • Hassan El Bouhali$466K
  • Other (8 more)$3M
Independent contractors
Compensation by contractor
  • Engage Communications Ltd$8M
  • McKinsey Co Inc E Africa PtyLtd E$8M
  • Deloitte LLP$6M
  • McKinsey and Company Inc Africa Pr$5M
  • BOSTON CONSULTING GROUP KENYA LIM$5M
Part VII Section B · highest paid
Independent contractors
5
ContractorServicesLocationCompensation
Engage Communications LtdPublic Relations SerVILLAGE MARKET, NAIROBI$8,407,354
McKinsey Co Inc E Africa PtyLtd EConsulting ServicesADDIS ABABA, 0$7,533,652
Deloitte LLPConsulting ServicesTORONTO, ONTARIO$6,044,419
McKinsey and Company Inc Africa PrConsulting ServicesWESTLANDS, NAIROBI$5,400,000
BOSTON CONSULTING GROUP KENYA LIMCONSULTING SERVICESNAIROBI, 0$5,327,738
Part VII Section A
Officers, directors and key employees
27
NameRoleHours / weekCompensationFrom related orgsOther
REETA ROYPRESIDENT AND CEO
Officer0$1,290,974$0$15,523
Peter MateruChief Program Officer
Officer0$750,217$0$9,544
Serge Auguste KouakouCountry Director, Senegal
Highest compensated0$632,769$0$13,623
Julie GichuruChief Public Affairs and Commu
Key employee0$564,359$0$12,623
WARIKO WAITASENIOR DIRECTOR, CORPORATE COM
Highest compensated0$510,931$0$6,815
Tina MuparadziChief People & Culture Officer
Key employee0$461,434$0$5,811
Hassan El BouhaliStrategic Advisor, Digital Eco
Former0$458,531$0$7,743
Nathalie GabalaExecutive Director, Pan Africa
Former0$436,878$0$24,686
OLUWOLE ONABOLOGENERAL COUNSEL
Officer0$442,559$0$12,623
SHONA BEZANSONDIRECTOR, BUSINESS DEVELOPMENT
Highest compensated0$410,572$0$16,522
SAMUEL ADELACOUNTRY DIRECTOR, ETHIOPIA
Highest compensated0$407,129$0$16,023
ROSY FYNNCOUNTRY DIRECTOR, NIGERIA
Highest compensated0$404,361$0$11,623
DOUGLAS KASAMBALACHIEF FINANCIAL OFFICER
Officer0$404,895$0$6,296
OMOTADE AKIN-AINACHIEF IMPACT AND RESEARCH OFF.
Key employee0$371,426$0$11,623
LINDA OSODOCHIEF PEOPLE & CULTURE OFFICER
Key employee0$191,609$0$13,623
Craig CalhounDirector
Trustee or director0$0$0$0
Douglas BaillieDirector
Trustee or director0$0$0$0
Ellen Johnson SirleafDirector
Trustee or director0$0$0$0
Jay IrelandDirector
Trustee or director0$0$0$0
Jennifer FonstadDirector
Trustee or director0$0$0$0
Louise ArbourDirector
Trustee or director0$0$0$0
Michael SabiaDirector
Trustee or director0$0$0$0
Robin WashingtonDirector
Trustee or director0$0$0$0
Valeria AmosBOARD CHAIR
Trustee or director0$0$0$0
Zein M AbdallaBoard Chair
Trustee or director0$0$0$0
SEWIT AHDEROMDIRECTOR
Trustee or director0$0$0$0
TSEGA GEBREYESDIRECTOR
Trustee or director0$0$0$0