The Mastercard Impact Fund is a corporate foundation of Mastercard International Inc., established in 2018 and based in Purchase, New York. The fund operates as a 501(c)(3) organization dedicated to driving social impact through philanthropic initiatives and strategic partnerships across the globe. With a presence in 104 countries, the fund deploys significant resources to support communities and organizations working toward sustainable development and economic opportunity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$143.2M
-21.9% YoY
Annual Giving
$62.1M
-15.3% YoY
Grant Count
52
-18.8% YoY
Avg Grant Size
$1.2M
+4.2% YoY
Under IRS private-foundation payout rules, Mastercard Impact Fund reported a distributable amount of $5.6M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Mastercard Impact Fund focuses on:
- Small Business Support — funding small business development and entrepreneurship initiatives
- Data for Social Impact — supporting organizations that leverage data to drive social change
- Disaster Relief — providing emergency assistance during crises, including support for Ukraine
- Future of Workers — investing in strategic initiatives focused on workforce development and economic opportunity
- Strategic Initiatives — supporting broader philanthropic priorities aligned with Mastercard's inclusive growth mission
Grantmaking
| Program | Average Award | Recipients | Last Awarded |
Grant Range
$5,000 to $15.8 million
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Geographic Focus
Where this funder awards grants
The fund supports initiatives across the United States and internationally, with a global footprint spanning 104 countries. Domestic focus areas include multiple U.S. states including New York, District of Columbia, Virginia, and others. International presence includes major cities such as London and Singapore.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2023:
- Total Assets: $183.4 million
- Total Expenses: $77.5 million
- Total Revenue: $9.0 million
- Total Giving: $83.2 million
Revenue Composition (2023):
- Investment income and dividends: $9,024,076
- Total grants and contributions: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $143,230,488 | $183,357,220 | $237,082,053 |
| Revenue | $31,332,063 | $9,024,076 | $70,446,588 |
| Expenses | $61,489,371 | $77,454,097 | $42,275,015 |
| Qualifying Distributions | $76,394,415 | $83,224,414 | $64,092,766 |
| Net Investment Income | $6,332,063 | $9,024,076 | $3,446,588 |
| Distributable Amount | $5,628,361 | $8,743,745 | $10,564,250 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Dai Global Llc ($17,689,631), American Online Giving Foundation Inc ($4,663,378), Cooperative for Assistance and Relief Everywhere Inc (care) ($4,126,037).
| Recipient | Purpose | Amount |
|---|---|---|
| ACCESS DEVELOPMENT SERVICES | SMALL BUSINESS | $45,000 |
| ACCION INTERNATIONAL WASHINGTON, DC | SMALL BUSINESS | $2,817,490 |
| AMERICAN ONLINE GIVING FOUNDATION INC NEWARK, DE | EMPLOYEE GIVING MATCH | $4,663,378 |
| AMERICAN RED CROSS NEW YORK, NY | DISASTER RELIEF | $500,000 |
| ATLANTIC COUNCIL WASHINGTON, DC | FINANCIAL SECURITY | $100,000 |
| AUC CONSORTIUM ATLANTA, GA | DATA FOR SOCIAL IMPACT | $2,159,600 |
| BANKABLE FRONTIER ASSOCIATES LLC CAMBRIDGE, MA | SMALL BUSINESS | $850,000 |
| BILL HILLARY & CHELSEA CLINTON FOUNDATION NEW YORK, NY | OTHER STRATEGIC | $50,000 |
| BUSINESS FOR SOCIAL RESPONSIBILITY NEW YORK, NY | FINANCIAL SECURITY | $1,000,000 |
| CAPITAL IMPACT PARTNERS ARLINGTON, VA | SMALL BUSINESS | $500,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Martina Hund-Mejean — Director and Chair
- Shamina Singh — Director and President
- Michael Froman — Director (until May 31, 2023)
- Walter MacNee — Director
- Sandra Arkell — Vice President
- Millie Chun — Vice President
- Dena Devaney — Vice President
- Issidor Illiev — Assistant Treasurer
- Tanya Southerland — Assistant Secretary
- LaToya Murphy — Assistant Treasurer
The leadership team contributes expertise without monetary compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARTINA HUND-MEJEAN | DIRECTOR, CHAIR | 1 | — |
| WALTER MACNEE | DIRECTOR | 1 | — |
| JON HUNTSMAN | DIRECTOR | 5 | — |
| SHAMINA SINGH | DIRECTOR, PRESIDENT | 10 | — |
| TIM MURPHY | DIRECTOR | 1 | — |
| SANDRA ARKELL | VICE PRESIDENT | 0.23 | — |
| MILLIE CHUN | VICE PRESIDENT | 0.5 | — |
| DENA DEVANEY | VICE PRESIDENT | 2 | — |
| TANYA SOUTHERLAND | ASSISTANT SECRETARY | 20 | — |
| KRISTIN HAYNES | ASSISTANT TREASURER | 25 | — |
| VIVIAN ZHOU | TREASURER | 0.15 | — |
| INDRANEEL GANGULY | ASSISTANT TREASURER | — | — |
| LATOYA MURPHY | ASSISTANT TREASURER | 20 | — |
Recent News & Activity
Recent developments and announcements
Mastercard Strive awarded nearly $2 million in grants to 11 innovative organizations supporting small businesses globally (December 2023)
Mastercard Awards Rural LISC $1.5M to Support Small BusinessesMastercard Strive USA invested $250,000 in the African American Alliance of CDFI CEOs
Mastercard Strive USA Invests $250000 in the African American ...Mastercard awarded Rural LISC $1.5 million to support small businesses
Mastercard Awards Rural LISC $1.5M to Support Small BusinessesMastercard Center for Inclusive Growth and data.org announced AI2AI Challenge awardees (December 2024)
Mastercard Center for Inclusive Growth and data.org announce ...Mastercard announced ten winners for the Mastercard Strive EU Innovation Fund (2024)
Mastercard Awards Rural LISC $1.5M to Support Small BusinessesSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Mastercard Impact Fund fund?
The Mastercard Impact Fund focuses on: • **Small Business Support** — funding small business development and entrepreneurship initiatives • **Data for Social Impact** — supporting organizations that leverage data to drive social change • **Disaster Relief** — providing emergency assistance during crises, including support for Ukraine • **Future of Workers** — investing in strategic initiatives focused on workforce development and economic opportunity • **Strategic Initiatives** — supporting bro…
How do I apply for a grant from Mastercard Impact Fund?
**Grant Activity:** • Awarded 73 grants in 2023, with total giving of approximately $83.2 million • Grant range: $5,000 to $15.8 million • Median grant amount: $572,711 • Giving rate: 39.6% of assets **Grant Programs:** | Program | Average Award | Recipients | Last Awarded | |---------|---|---|---| | Small Business | $755,361 | 36 | 2023 | | Small Business - Strive | $1,982,191 | 17 | 2023 | | Data for Social Impact | $1,257,647 | 16 | 2023 | | COVID-19 Emergency Response | $2,390,713 | 14 | 20…
Where does Mastercard Impact Fund make grants?
The fund supports initiatives across the United States and internationally, with a global footprint spanning 104 countries. Domestic focus areas include multiple U.S. states including New York, District of Columbia, Virginia, and others. International presence includes major cities such as London and Singapore.
What size grants does Mastercard Impact Fund award?
In 2024, Mastercard Impact Fund awarded 52 grants totaling $62.1M — an average of about $1.2M per grant, based on its IRS Form 990 filings.
How much is Mastercard Impact Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Mastercard Impact Fund reported a distributable amount of $5.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Mastercard Impact Fund's EIN?
Mastercard Impact Fund's EIN (Employer Identification Number) is 82-4717403. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Mastercard Impact Fund's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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