Mastercard Foundation

Mastercard Foundation is a global philanthropy organization that was established in 2006 by Mastercard, with the goal of advancing economic empowerment and social mobility for disadvantaged communities, particularly in Africa. The foundation is headquartered in Toronto, Ontario, Canada, and has partnerships with numerous organizations, including United Nations, World Bank, and Bill and Melinda Gates Foundation. The foundation's work is guided by the principles of sustainable development, human rights, and social justice, as outlined by the United Nations Sustainable Development Goals and the Universal Declaration of Human Rights.

● History

The foundation was established in 2006, with an initial endowment of $1.9 billion from Mastercard, and has since grown to become one of the largest private foundations in the world, with assets of over $3.5 billion. The foundation's early work focused on microfinance and financial inclusion, with partnerships with organizations such as Grameen Bank, Kiva, and Accion International. In 2010, the foundation launched its first major initiative, the Mastercard Foundation Scholars Program, which provides scholarships and mentorship to talented young people from disadvantaged backgrounds, with partners including University of California, Berkeley, University of Michigan, and Ashesi University. The foundation has also worked with Nelson Mandela Foundation, Bill Clinton Foundation, and Carter Center to advance its mission.

● Mission_and_Vision

The foundation's mission is to advance economic empowerment and social mobility for disadvantaged communities, particularly in Africa, by providing access to education, financial services, and job opportunities. The foundation's vision is to create a world where everyone has the opportunity to succeed, regardless of their background or circumstances, as envisioned by Kofi Annan, Desmond Tutu, and Malala Yousafzai. The foundation is guided by a set of core values, including integrity, respect, and accountability, as reflected in the United Nations Global Compact and the OECD Guidelines for Multinational Enterprises. The foundation's work is also informed by the principles of human-centered design, social entrepreneurship, and impact investing, as promoted by Acumen Fund, Skoll Foundation, and Social Venture Partners.

● Programs_and_Initiatives

The foundation has a range of programs and initiatives that aim to advance its mission and vision, including the Mastercard Foundation Scholars Program, which provides scholarships and mentorship to talented young people from disadvantaged backgrounds, with partners including University of Oxford, University of Cambridge, and Massachusetts Institute of Technology. The foundation also runs the Mastercard Foundation Rural Prosperity Initiative, which aims to improve the lives of smallholder farmers and their families in Africa, with partners including International Fund for Agricultural Development, Food and Agriculture Organization of the United Nations, and African Development Bank. Additionally, the foundation has launched the Mastercard Foundation Youth Livelihoods Program, which provides job training and entrepreneurship support to young people in Africa, with partners including International Labor Organization, United Nations Development Programme, and African Union.

● Governance_and_Leadership

The foundation is governed by a board of directors that includes Reeta Roy, Doug Baillie, and Jennifer Fonstad, among others. The foundation's leadership team is headed by Reeta Roy, who has over 20 years of experience in philanthropy and international development, and has worked with organizations such as Ford Foundation, Rockefeller Foundation, and World Health Organization. The foundation also has a number of advisory boards and committees, including the Mastercard Foundation Advisory Board, which provides strategic guidance and advice, with members including Mary Robinson, Gordon Brown, and Wangari Maathai.

● Impact_and_Achievements

The foundation has made significant progress in advancing its mission and vision, with over 10 million people benefiting from its programs and initiatives since its inception. The foundation's Mastercard Foundation Scholars Program has provided scholarships and mentorship to over 20,000 young people from disadvantaged backgrounds, with partners including Harvard University, Stanford University, and University of Toronto. The foundation's Mastercard Foundation Rural Prosperity Initiative has improved the lives of over 1 million smallholder farmers and their families in Africa, with partners including World Food Programme, International Rescue Committee, and Oxfam International. The foundation has also been recognized for its work, including being named one of the Top 10 Most Innovative Companies in Philanthropy by Fast Company, and receiving the Skoll Award for Social Entrepreneurship from Skoll Foundation.

● Partnerships_and_Collaborations

The foundation has partnerships with numerous organizations, including United Nations, World Bank, and Bill and Melinda Gates Foundation, to advance its mission and vision. The foundation also works with governments, civil society organizations, and private sector companies to leverage resources and expertise, with partners including Government of Canada, Government of Australia, and Coca-Cola Company. The foundation is a member of the Global Partnership for Education, the International Fund for Agricultural Development, and the African Development Bank, and has collaborated with Nobel Peace Prize laureates such as Malala Yousafzai, Leymah Gbowee, and Ellen Johnson Sirleaf. The foundation has also worked with influential leaders such as Barack Obama, Angela Merkel, and Justin Trudeau to advance its mission and vision. Category:Philanthropic organizations