Mission

Through its grant making activities, The MasterCard Foundation intends to broaden access to the global economy for the financially excluded through innovative microfinance programs and increased access to quality educational opportunities.

By supporting microfinance and youth education initiatives, The Foundation will provide the financial resources and technical skills to help financially excluded families and communities sustain long-term economic stability.

Funding

The Foundation was created in May 2006 through the generosity of MasterCard Worldwide’s customer financial institutions at the time of the MasterCard Worldwide initial public offering. In an unprecedented move, the companies agreed to reduce their proceeds from the offering to vest The Foundation with more than 13 million shares of stock, currently valued at more than one billion U.S. dollars.

Program Areas

• Microfinance — To establish, operate and provide microfinance programs and services to financially excluded persons and communities in order to strengthen communities and to foster the development of entrepreneurs as a means of relieving poverty.



• Youth education — To establish, operate and provide programs and services to facilitate access to education for youth, to support their ability to understand and use technology, and to help them develop the skills necessary to succeed in a diverse and global work force.

Geographic Reach

The MasterCard Foundation will partner with international institutions and nongovernmental organizations (NGOs) to establish programs in communities around the globe.

Grant Making

The Foundation will not accept any unsolicited proposals; rather, it will be proactive, identifying a small number of significant partners through which it will conduct its charitable giving.

Relationship to MasterCard Worldwide

MasterCard Worldwide and The MasterCard Foundation share a commitment to fueling economic growth and opportunity for people around the world. The Foundation is independent from MasterCard Worldwide.

The Foundation’s Board of Directors and President/CEO have responsibility for establishing policies with respect to all administrative, financial and philanthropic decisions for The Foundation.

Summary of 2007 Activities

In 2007 the MasterCard Foundation’s primary activities were focused on establishing its vision and mission and developing its strategies related to microfinance. The Foundation adopted its vision to make the global economy work for everyone. It also adopted the mission to create opportunities for people to harness their own skills and resources to improve their quality of life. The Foundation will advance its work by pursuing global partnerships and initiatives centered on youth education and microfinance, with the latter being its primary focus through 2009. Total grants awarded in 2007 were US$150,000.

If you are interested in viewing the Foundation's tax returns, please visit the Canada Revenue Agency's searchable charities listing. The CRA website includes tax returns for 2006 and 2007. The MasterCard Foundation charitable registration number is 817387277 RR0001.
Click here to view our 2007 Financial Statement.