Mastercard Impact Fund
- Assets
- $207.3m
- Revenue
- $96.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Purchase, NY
- Founding
- 12/2018
- Data as of
- 12/2020
- EIN
- 82-4717403
Organization Overview
Mastercard Impact Fund is located in Purchase, NY. The organization was established in 2018. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastercard Impact Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Mastercard Impact Fund generated $96.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $69.8m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Mastercard Impact Fund has awarded 145 individual grants totaling $152,384,180. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shamina Singh Director, President | 10 | $0 | |
Sandra Arkell Vice President | 1 | $0 | |
Alfred Kibe Treasurer | 0.5 | $0 | |
Martina Hund-Mejean Director, Chair | 1 | $0 | |
Millie Chun Vice President | 1 | $0 | |
Dena Devaney Vice President | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mission Measurement | 12/30/20 | $699,230 |
Blackbaud Inc | 12/30/20 | $232,082 |
Rsm Us Llp | 12/30/20 | $53,724 |
Rockefeller Philanthropy Advisors Inc | 12/30/20 | $178,952 |
Bankable Frontier Associates Llc | 12/30/20 | $72,202 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $95,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,043,769 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,519 |
| Total Revenue | $96,050,288 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25,655 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21,383 |
| Total operating and administrative expenses | $1,403,740 |
| Contributions, gifts, grants paid | $68,361,956 |
| Total expenses and disbursements | $69,765,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,000 |
| Savings and temporary cash investments | $203,985,514 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,183,255 |
| Total assets | $207,268,769 |
| Accounts payable and accrued expenses | $114,934 |
| Grants payable | $48,090,200 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,205,134 |
Grants Awarded
Over the last fiscal year, Mastercard Impact Fund has awarded $86,538,820 in support to 95 organizations.
| Grant Recipient | Amount |
|---|---|
GATES PHILANTHROPY PARTNERS PURPOSE: COVID-19 THERAPEUTIC ACCELERATOR | $17,000,000 |
GATES PHILANTHROPY PARTNERS PURPOSE: COVID-19 THERAPEUTIC ACCELERATOR | $8,000,000 |
Washington, DC PURPOSE: INCLUSIVE GROWTH | $7,325,088 |
YOURCAUSE PROCESSING SERVICES PURPOSE: EMPLOYEE MATCHING GIFT PROGRAM - ADDITIONAL INFO AVAILABLE UPON REQUEST | $5,415,942 |
Washington, DC PURPOSE: FINANCIAL SECURITY / FSPS | $3,600,000 |
DATAKIND INC PURPOSE: DATA FOR SOCIAL IMPACT | $2,545,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Annenberg Foundation Conshohocken, PA | $1,804,363,680 | $109,022,988 |
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |