2023-05-03T16:33:51-05:00 2022-12-31 Deloitte LLP 8 ADELAIDE ST W SUITE 200 TORONTO ON CA M5H 0A9 990 2022-01-01 980543843 MASTERCARD FOUNDATION % ROSEMARY NDUHIU MAST 4162142857 250 Yonge Street Suite 2400 TORONTO ONTARIO CA M5B 2L7 Reeta Roy CEO 6472142857 2023-03-21 true Reeta Roy XXX-XX-XXXX James McDonald P01297490 4166016150 2023-03-21 3 2022 2023-04-26 12:10:37Z Rosemary Nduhiu 2400 - 250 Yonge Street TORONTO ONTARIO CA M5B 2L7 1455654904 false X www.mastercardfdn.org X 2005 CA THE FOUNDATION'S MISSION IS TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES. 10 10 3 0 0 0 0 0 422712823 423841381 235933 267926 422948756 424109307 1395179965 1222658542 0 0 35044031 53412106 0 0 0 65945884 101230498 1496169880 1377301146 -1073221124 -953191839 30798947472 29242305789 9406052 7993373 30789541420 29234312416 X THE FOUNDATION'S MISSION IS TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES. false false 183000000 183000000 Mastercard Foundation's partnership with Ashesi University Foundation Canada and Ashesi University in Ghana is an education initiative that will enable Ashesi to expand its education collaborative to include at least 140 universities. The collaborative drives systems change and influences education policies in Africa and beyond. The initiative will also provide scholarships to approximately 1,000 Scholars over ten years and enable 400 young people to scale their ventures through Ashesi's Venture Incubator program. 103000000 103000000 Mastercard Foundation's partnership with African Leadership Group will enable 2 million young men and women in Africa to secure dignified and fulfilling work. It will also enable the development of a sustainable youth-led entrepreneurship and employment model across Africa, a model for sustainable education financing, and a blueprint for an accelerated work creation program. 98413360 98413360 Mastercard Foundation's partnership with UNICEF will play a pivotal role in the success of the Saving Lives and Livelihoods initiative, leading the procurement of vaccine doses and their upstream delivery from manufacturer to port of entry. By providing vaccines to over 50 million people in Africa, the program will ensure a safe enabling environment for African youth to pursue their education and entrepreneurial goals. 273109305 273109305 OTHER FINANCIAL INCLUSION PROGRAMS 565135877 565135877 OTHER YOUTH LEARNING PROGRAMS 102897685 Other Program services Expenses incl. direct imple 941142867 838245182 1325556227 false false false false false false false false true true false false false false false true false false true true true false false false false false true false true false false false false false false false false false false false false false false false false true 0 0 3 true false true CA RW KE GH SF ET SG UG false false false false true false X 10 10 false false false false true true true true true false true true true true true true true true true true false X ROSEMARY NDUHIU 4162142857 250 Yonge Street Suite 2400 TORONTO Ontario CA M5B 2L7 X REETA ROY PRESIDENT/CEO 0.0 60.0 X 1112764 0 13191 Peter Materu Chief Program Officer 0.0 55.0 X 604499 0 3745 Nathalie Gabala Executive Director, Pan Africa 0.0 55.0 X 587905 0 17580 Daniel Hailu Executive Director, Country Pr 0.0 55.0 X 537268 0 18524 Serge Auguste Kouakou Country Director, Senegal 0.0 55.0 X 450672 0 4182 Julie Gichuru Chief Public Affairs and Commu 0.0 55.0 X 417283 0 7656 Hassan El Bouhali Senior Director, Technology 0.0 55.0 X 395818 0 8171 Samuel Adela Country Director, Ethiopia 0.0 55.0 X 385886 0 4785 Tina Muparadzi Chief People & Culture Officer 0.0 55.0 X 375781 0 4273 Rosemary Nduhiu Acting Chief Operations Office 0.0 55.0 X 347448 0 3078 David Marlow Chief Operations Officer (Form 0.0 55.0 X 266752 0 0 Craig Calhoun Director 0.0 3.0 X 0 0 0 Douglas Baillie Director 0.0 3.0 X 0 0 0 Ellen Johnson Sirleaf Director 0.0 3.0 X 0 0 0 James Ireland Director 0.0 3.0 X 0 0 0 Jendayi Frazer Director 0.0 3.0 X 0 0 0 Jennifer Fonstad Director 0.0 3.0 X 0 0 0 Louise Arbour Director 0.0 3.0 X 0 0 0 Michael Sabia Director 0.0 3.0 X 0 0 0 Robin Washington Director 0.0 3.0 X 0 0 0 Valeria Amos Director 0.0 3.0 X 0 0 0 Zein M Abdalla Board Chair 0.0 6.0 X 0 0 0 5482076 0 85185 137 true true false Engage Communications Ltd PO BOX 1030 000621 - VILLAGE MARK VILLAGE MARKET NAIROBI KE Public Relations Ser 11626147 Deloitte LLP BAY ADELAIDE CENTRE 8 ADELAIDE ST TORONTO ONTARIO CA M5H 0A9 Consulting Services 5687311 McKinsey and Company Inc Africa Pr 8TH FLOOR DELTA CORNER TOWER CHIRO WESTLANDS NAIROBI KE Consulting Services 5301200 McKinsey Co Inc E Africa PtyLtd E FLOOR 1 OASIS BUI BOLE MEDHANEALE ADDIS ABABA 0 ET Consulting Services 12956664 McKinsey and Company Africa Pty L 140 WEST STREET 2196 SANDTON 0 SF Consulting Services 2400000 104 0 0 210729356 210729356 0 0 267926 267926 0 267926 267926 1244657622 1031545597 213112025 213112025 213112025 0 0 0 0 0 0 0 0 0 0 424109307 424109307 169595385 169595385 0 1053063157 1053063157 0 3088986 1918499 1170487 0 38746991 28062424 10684567 0 11505970 6739437 4766533 70159 70159 0 1523286 236790 1286496 276665 276665 0 0 0 69279666 53472355 15807311 0 6890700 6890700 1088362 1088362 0 3292774 2160686 1132088 7997451 2278738 5718713 0 3819295 3793102 26193 0 0 1643865 1643865 359573 359573 HUMAN RESOURCE COSTS 3229142 2335778 893365 PROGRAM IMPLEMENTATION AND SUP 1829718 1829718 1377301145 1325556227 51744918 0 0 0 111222781 181170930 0 0 1485086 1500785 0 0 0 0 0 0 0 0 4069710 11278343 7179682 3945785 3461412 3233897 30677002171 29043419408 0 0 0 0 1706312 1702426 0 0 30798947472 29242305789 9346052 7993373 60000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9406052 7993373 X 112539249 190893008 30677002171 29043419408 30789541420 29234312416 30798947472 29242305789 -953191838 -602037166 X false true X true false 30677002172 -602037166 1031545597 29043419409 31355848119 391302813 1070148760 30677002172 27558166914 4474152467 676471261 31355848120 17386501173 10363751993 192066903 19350 27558166913 13967145300 3579382829 160000000 26956 17386501173 0.00000 0.00000 1.00000 false false 3899029 2816877 1082152 2068866 490456 1578410 1211787 638452 573335 3233897 -178385436 -602037165 -602037165 423651729 457578 457578 424109307 1376843568 -457578 -457578 1377301146 1377301146 SCHEDULE D, PART V, LINE 4 THE FOUNDATION'S ENDOWMENT FUNDS ARE INTENDED TO PROVIDE REVENUE TO FULFILL THE FOUNDATION'S MISSION TO ADVANCE YOUTH EDUCATION AND PROMOTE FINANCIAL INCLUSION FOR FINANCIALLY DISADVANTAGED PERSONS AND COMMUNITIES, WITH A MAJOR FOCUS IN AFRICA. Schedule D, Part XII, line 4b TO REALLOCATE THE AGGREGATE NEGATIVE RESULT FROM BOTH REALIZED AND UNREALIZED FOREIGN EXCHANGE GAINS AND LOSSES TO THE REVENUE RECONCILIATION: $457,578 Schedule D, Part XII, line 2d TO REALLOCATE THE AGGREGATE NEGATIVE RESULT FROM BOTH REALIZED AND UNREALIZED FOREIGN EXCHANGE GAINS AND LOSSES TO THE EXPENSE RECONCILIATION: $-457,578 true Sub-Saharan Africa 7 442 Program Services Youth learning & Finan 860331642 North America 1 172 Program Services Youth learning & Finan 26817678 Central America and the Caribbean 0 0 Program Services Youth learning & Finan 5901374 Europe (Including Iceland and Greenland) 0 0 Program Services Youth learning & Finan 160012462 8 614 8 614 1053063156 1053063156 Sub-Saharan Africa Youth Learning 12552050 Sub-Saharan Africa Youth Learning 534600 Sub-Saharan Africa Financial Inclusion 10134321 Sub-Saharan Africa FINANCIAL INCLUSION 50000000 Sub-Saharan Africa Youth Learning 60000 Sub-Saharan Africa Youth Learning 141788 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THIS IS DONE BY USING FINANCIAL AND NARRATIVE REPORTING FROM THE ORGANIZATION, ON-SITE PROJECT VISITS, VIRTUAL MEETINGS AND WHERE NECESSARY DESKTOP REVIEWS WITH THE ORGANIZATION, THIRD PARTY REVIEWS AND REPORTS. AN ASSESSMENT OF COMPLIANCE WITH ANTI-TERRORISM LEGISLATION AND OTHER DUE DILIGENCE PROCEDURES ARE DONE ON AN ANNUAL BASIS FOR MULTI-YEAR PROJECTS. true The World Bank 1818 H Street NW WASHINGTON DC 20433 521186444 501(c)7 12705025 YOUTH LEARNING Wellesley College 106 Central Street WELLESLEY MA 02481 042103637 501(c)3 454205 Youth Learning INTERNATIONAL RESCUE COMMITTEE INC 122 E 42ND STREET NEW YORK NY 10168 135660870 501(c)3 581773 YOUTH Learning American University of Beirut 3 dag hammarskjold plaza NEW YORK NY 10017 135596846 501(c)3 3590256 Youth Learning CapitalPlus Exchange Corporation 8001 Lincoln Ave Ste 201 Skokie IL 600773657 300199985 501(c)3 3374774 FINANCIAL INCLUSION Arizona State University PO Box 877705 Tempe AZ 852877705 999999999 Charitable Org 6750382 Youth Learning MATHEMATICA POLICY RESEARCH 1100 1ST STREET 12th Floor WASHINGTON DC 20002 999999999 OTHER 246600 Youth Learning ONE ACRE FUND 1954 First St 183 Highland Park IL 60035 203668110 501(C)3 14960 Youth Learning EDUCATION DEVELOPMENT CENTER INC 43 foundry avenue waltham MA 02453 042241718 501(c)3 427679 Youth Learning GLOBAL GIVE BACK CIRCLE 400 E 59TH STREET NEW YORK NY 10022 770708340 501(c)3 752236 Youth Learning SHINING HOPE FOR COMMUNITIES INC 11 Park Place 3rd Floor NEW YORK NY 10007 271493201 501(c)3 10306532 Financial Inclusion Carnegie Mellon University 5000 Forbes Ave Pittsburgh PA 15213 250969449 501(c)3 1316811 Youth Learning Grassroots Business Partners Inc 1875 K Street Suite 537 Washington DC 20006 262108051 501(c)3 17410167 Financial Inclusion African Center for Economic Transformation 1776 K Street NW Suite 200 Washington DC 20006 113803281 501(c)3 1082548 Youth Learning The Resolution Project 1120 ave of the americas New York NY 10036 264394051 501(c)3 845551 Youth Learning West African Research Association Inc Boston University African Studies Center 232 Bay sta Boston MA 02215 521690509 501(c)3 20000 Youth learning Inkomoko Formerly AFRICAN ENTREPRENERSHIP COLL PO BOX 29 CLINTON WA 98236 460743201 501(c)3 2579745 FINANCIAL INCLUSION CORNELL UNIVERSITY OFFICE OF THE PRESIDENT 300 DAY HAL CORNELL UNIVERSITY ITHACA NY 14853 150532082 501(c)3 1309550 YOUTH LEARNING CorpsAfrica 300 Park Avenue 12th Floor New York NY 10022 452470692 501(c)3 3066120 YOUTH LEARNING Brown University Providence Providence RI 02912 050258809 501(c)3 50000 Youth learning Emerging Public Leaders 110 Vermont Ave Suite 500 Washington DC 20005 815294637 501(c)3 1748187 Youth learning UNICEF The United Nations Children's Fund UNICEF House Three United Nations New York NY 10017 999999999 Other 98413360 Youth Learning Dalberg Catalyst 1401 K Street NW Washington DC 20005 812108637 Non-Profit Orga 250000 Financial Inclusion International Food Policy Research Institute 2033 K Street NW Washington DC 200061002 521041632 501(c)3 1625605 Financial Inclusion Michael and Henrietta Olupona Foundation 4142 24th St New York NY 11101 462364042 501(c)3 150000 Youth Learning Spence-Chapin 410 EAST 92ND STREET New York NY 101286881 131834590 501(c)3 124862 Youth Learning Spring Impact 336 Hugo Street San Francisco CA 94122 471876230 501(c)3 148800 Youth Learning TCP Foundation 745 5th Avenue 5th Floor New York NY 10151 833933549 501(c)3 249657 Financial Inclusion 22 6 SCHEDULE I, LINE 2 THROUGHOUT THE LIFECYCLE OF THE PROJECT, THE FOUNDATION ASSESSES WHETHER THE ORGANIZATION IS CARRYING OUT ACTIVITIES CONSISTENT WITH THE PURPOSES FOR WHICH THE FUNDS WERE APPROVED. THIS IS DONE BY USING FINANCIAL AND NARRATIVE REPORTING FROM THE ORGANIZATION, ON-SITE PROJECT VISITS, VIRTUAL MEETINGS AND WHERE NECESSARY DESKTOP REVIEWS WITH THE ORGANIZATION, THIRD PARTY REVIEWS AND REPORTS. AN ASSESSMENT OF COMPLIANCE WITH ANTI-TERRORISM LEGISLATION AND OTHER DUE DILIGENCE PROCEDURES ARE DONE ON AN ANNUAL BASIS FOR MULTI-YEAR PROJECTS. X X X X true true X X X X X false false false false false false false false false REETA ROY PRESIDENT/CEO 1097521 15243 13191 1125955 Peter Materu Chief Program Officer 552758 51741 3745 608244 Nathalie Gabala Executive Director, Pan Africa 319000 268905 17580 605485 Daniel Hailu Executive Director, Country Pr 319000 218268 18524 555792 Serge Auguste Kouakou Country Director, Senegal 192816 257856 4182 454854 Julie Gichuru Chief Public Affairs and Commu 416000 1283 7656 424939 Hassan El Bouhali Senior Director, Technology 321537 74281 8171 403989 Samuel Adela Country Director, Ethiopia 192054 193832 4785 390671 Tina Muparadzi Chief People & Culture Officer 360000 15781 4273 380054 Rosemary Nduhiu Acting Chief Operations Office 316211 31237 3078 350526 David Marlow Chief Operations Officer (Form 246317 20435 266752 SCHEDULE J, PART I, LINE 1a - SUPPLEMENTAL INFORMATION First-class or charter travel: Name Type of benefit Taxable compensation All persons listed First-class or charter travel No Travel for companions: Name Type of benefit Taxable compensation Samuel Adela Airfare for companions Yes Tax indemnification and gross-up payments: Name Type of benefit Taxable compensation David Marlow Medical / Retirement Yes Reeta Roy Relocation Allowances, Tax Preparation Support Yes Peter Materu Relocation Allowances, Tax Preparation Support Yes Samuel Adela Housing Allowance, Dependent Tuitions, Home Leave Allowance, Tax Preparation Support, Foreign Tax Paid Yes Daniel Hailu Housing allowance, tax return preparation fees Yes Nathalie Gabala Housing allowance, children's school fees, tax return preparation fees, office equipment & Wi-Fi Yes Housing allowance or residence for personal use: Name Type of benefit Taxable compensation Daniel Hailu Housing allowance Yes Nathalie Gabala Housing allowance Yes Samuel Adela Housing allowance Yes Serge Auguste Housing allowance Yes PART VI LINE 7B THE BYLAWS OF THE FOUNDATION STATE THAT NOMINATIONS OF QUALIFIED CANDIDATES TO BE ELECTED AS DIRECTORS OF THE BOARD OF THE FOUNDATION SHALL BE MADE BY THE BOARD OF THE FOUNDATION, UPON CONSULTATION WITH, BUT NOT UNDER THE CONTROL OR DIRECTION OF MASTERCARD INCORPORATED. MOREOVER, THE BYLAWS STATE THAT DIRECTORS OF THE FOUNDATION SHALL BE REQUIRED TO SATISFY THE QUALIFICATIONS OUTLINED IN THE BYLAWS, AS DETERMINED BY A RESOLUTION OF THE BOARD OF DIRECTORS OF THE FOUNDATION AND A MAJORITY OF THE VOTES CAST AT A PROPERLY CONSTITUTED MEETING OF THE NOMINATING AND CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS OF MASTERCARD INCORPORATED. AMENDING CERTAIN SECTIONS OF THE FOUNDATION'S BYLAWS ALSO REQUIRES APPROVAL BY MASTERCARD INCORPORATED. PART VI LINE 11 THE FORM 990 IS PREPARED BY DELOITTE LLP ("DELOITTE"), BASED ON THE INFORMATION PROVIDED BY MANAGEMENT. PRIOR TO FILING, THE FORM 990 IS APPROVED BY THE BOARD OF DIRECTORS. PART VI LINE 12C FOUNDATION OFFICERS MUST COMPLY WITH THE EMPLOYEE CODE OF CONDUCT WHICH REQUIRES AN INITIAL DISCLOSURE FORM BEFORE HIS OR HER INVOLVEMENT WITH ANY OPERATIONS OF THE FOUNDATION. THIS DISCLOSURE IDENTIFIES ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH THE INDIVIDUAL MAY BE INVOLVED THAT HE OR SHE BELIEVES COULD CAUSE A CONFLICT OF INTEREST. THIS INITIAL DISCLOSURE MUST BE CONFIRMED ANNUALLY AND UPDATED WHENEVER SUBSTANTIAL CHANGES OCCUR. THE BOARD OF DIRECTORS ARE GOVERNED UNDER THE CONFLICT OF INTEREST PROVISIONS SET OUT IN THE FOUNDATION'S BYLAWS AND CODE OF CONDUCT FOR DIRECTORS. FOR BOTH OFFICERS AND DIRECTORS THE DISCLOSURE FORMS ARE REVIEWED AS THEY ARE SUBMITTED AND ANY POTENTIAL CONFLICTS ARE ADDRESSED. BOARD MEMBERS WITH A CONFLICT OF INTEREST DO NOT VOTE ON ANY MATTER RELATED TO THE ISSUE FOR WHICH THEY HAVE A CONFLICT, OR RESIGN FROM THE BOARD, AS APPLICABLE. PART VI LINE 15A AND 15 B THE TALENT AND COMPENSATION COMMITTEE APPROVES COMPENSATION FOR THE PRESIDENT/CEO. PRESIDENT/CEO APPROVES SALARIES FOR ALL EXECUTIVE COMMITTEE MEMBERS AND THE TALENT AND COMPENSATION COMMITTEE ENDORSES CHANGES TO COMPENSATION FOR THE PRESIDENT/ CEO AND THE EXECUTIVE COMMITTEE. EXTERNAL CONSULTANTS ARE ENGAGED TO CONDUCT COMPETITIVE REVIEWS OF COMPENSATION FOR THE PRESIDENT/CEO, EXECUTIVE COMMITTEE, AND ALL STAFF. EXTERNAL CONSULTANTS ARE ALSO ENGAGED TO ADVISE ON COMPENSATION STRATEGY. THE FOUNDATION REVIEWS COMPENSATION PLANNING DATA PROVIDED BY EXTERNAL CONSULTANTS FOR SALARY ADJUSTMENTS PERIODICALLY. PART VI LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE FOUNDATION'S WEBSITE.