The Mascareñas Foundation is a private, non-profit foundation established on November 22, 1988. It is authorized by Mexico's Ministry of Finance and Public Credit to receive tax-deductible donations for its philanthropic activities.

It is bases in Juarez, Chihuahua, Mexico, although its sphere of influence extends across the United States-Mexico border. It collaborates with institutions and individuals on both sides of the Rio Grande, and is committed to the betterment of the quality of life without regard for race, politics, or religious affiliation.

Since its creation in 1988, the Foundation has provided scholarships to 138 graduates of institutions ranging from the Autonomous University of Juarez, the University of Texas at El Paso, Marymount College, and Fordham University.

To supplement private and institutional donations, the committee Friends of the Mascareñas Foundation sponsors a series of fund-raising events throughout the year. These events raise money for student scholarships while stimulating the cultural interest of the entire community. The annual Expo Arte Gala Dinner presents the art and cuisine of selected regions of Mexico, and a series of Matices Culturales bring major performances of dance and music to Ciudad Juarez.

Each year the foundation selects two individuals, one each from Mexico and the United States, and recognizes their outstanding social and philanthropic efforts with the Rene Mascareñas Miranda International Excellence Award. Donations in the name of the recipients are made to the scholarship fund.