Cathay Bank Foundation
The Cathay Bank Foundation is a private philanthropic organization based in El Monte, California, associated with Cathay Bank. Established in 2002 and designated as a 501(c)(3) tax-exempt organization since September 2003, the foundation raises and administers funds for community-based nonprofit organizations and educational initiatives.
Key facts about Cathay Bank Foundation
- EIN
- 74-3052411
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $2,292,053
- Grants made (2024)
- 223
- Average grant
- $10,278
- Median grant
- $5,000
- Total assets
- $314,746
- Primary geography
- California (70% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Cathay Bank Foundation funds
By grant dollars, the top recipient states for Cathay Bank Foundation's 223 itemized 2024 grants were California (70%), New York (10%) and Georgia (6%). The most frequent recipient cities were Los Angeles, CA (47 grants), New York, NY (22 grants), San Francisco, CA (19 grants) and Flushing, NY (8 grants). 100% of grants with a stated purpose were for general or operating support.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$315K
-54.7% YoY
Annual Giving
$2.3M
+6.4% YoY
Grant Count
223
+22200.0% YoY
Avg Grant Size
$10K
-99.5% YoY
Mission & Focus Areas
The foundation's mission is to enhance the growth and success of communities in which Cathay Bank serves. Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation makes grants primarily within California, New York, and Texas. Recent grant activity includes:
Grant Range
s:**
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Geographic Focus
Where this funder awards grants
The foundation primarily funds initiatives in California, with additional grantmaking activity in New York and Texas. The scholarship program serves residents in California, Illinois, Massachusetts, Maryland, New Jersey, Nevada, New York, Texas, and Washington.
Grant Distribution by State
Share of all 223 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent (2024):
- Total Assets: $314,746
- Total Revenues: $2,467,764
- Total Expenses: $2,387,508
Previous Year (2023):
- Total Assets: $694,000
- Total Revenues: $2,497,980
- Total Expenses: $2,448,700
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $314,746 | $694,440 | $128,810 |
| Revenue | $2,467,764 | $2,497,980 | $2,370,809 |
| Expenses | $2,387,508 | $2,448,700 | $2,744,948 |
| Qualifying Distributions | $2,292,253 | $2,154,500 | $2,626,000 |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
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
227 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Operation Hope ($142,500), Chinatown Service Center (csc) ($120,000), Asian American Education Project ($83,353).
| Recipient | Purpose | Amount |
|---|---|---|
| OPERATION HOPE ATLANTA, GA | OPERATING SUPPORT | $142,500 |
| CHINATOWN SERVICE CENTER (CSC) LOS ANGELES, CA | OPERATING SUPPORT | $120,000 |
| ASIAN AMERICAN EDUCATION PROJECT LOS ANGELES, CA | OPERATING SUPPORT | $83,353 |
| JUNIOR ACHIEVEMENT OF SOUTHERN CALIFORNIA INC (JASOCAL) LOS ANGELES, CA | OPERATING SUPPORT | $80,000 |
| ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM INC (API SBP) LOS ANGELES, CA | OPERATING SUPPORT | $50,000 |
| ASIAN PACIFIC COMMUNITY FUND OF SOUTHERN CALIFORNIA (APCF) LOS ANGELES, CA | OPERATING SUPPORT | $45,000 |
| FAMILY BRIDGES INC OAKLAND, CA | OPERATING SUPPORT | $40,000 |
| THE GREENLINING INSTITUTE OAKLAND, CA | OPERATING SUPPORT | $40,000 |
| NEIGHBORHOOD HOUSING SERVICES OF LOS ANGELES COUNTY (NHS LA) LOS ANGELES, CA | OPERATING SUPPORT | $30,000 |
| SELF-HELP FOR THE ELDERLY SAN FRANCISCO, CA | OPERATING SUPPORT | $30,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Deborah Ching – Chair (compensated)
- Stewart Kwoh – Director (compensated)
- Jack Sun – Treasurer
- William E Becker – Senior Vice President
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DEBORAH F CHING | CHAIR | 0.46 | $25,000 |
| JACK SUN | TREASURER | 0.92 | — |
| WILLIAM E BECKER | SECRETARY (UNTIL 05/2024) | 0.71 | — |
| NANCY TARR | SECRETARY | 0.35 | — |
| CHANG LIU | MEMBER | 0.23 | — |
| DIANA YANG | MEMBER | 0.12 | — |
| ANTHONY HUA | MEMBER | 0.17 | — |
| VERONICA TSANG | MEMBER | 0.23 | — |
| RICHARD SUN | MEMBER | 0.23 | — |
| STEWART KWOH | MEMBER | 0.46 | $25,000 |
Recent News & Activity
Recent developments and announcements
**2025 Scholarship Recipients:** The foundation announced 20 recipients of the 2025 Cathay Bank Foundation Scholarship. Among the 1,187 applicants, over 37% will be the first in their families to attend college, and more than 87% identify as minorities.
Scholarships | Cathay Bank**Annual Charity Golf Tournament:** The 48th Annual Charity Golf Tournament held on May 28, 2025, raised $210,000 for local nonprofits. The event, held at Industry Hills Golf Club, brought together over 160 golfers and 260 guests for the post-event dinner and raffle. Since 1977, the annual tournament has supported the foundation's mission to make a meaningful difference in served communities.
Cathay Bank 2024 Charity Involvement | La Ca\xF1ada Outlook | outlooknewspapers.comSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Cathay Bank Foundation fund?
The foundation's mission is to enhance the growth and success of communities in which Cathay Bank serves. Primary funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Cathay Bank Foundation?
The foundation makes grants primarily within California, New York, and Texas. Recent grant activity includes: **Grant Sizes:** • Typical awards range from $1,250 to $142,500 • Recent notable grants include $142,500 to Operation Hope, $120,000 to Chinatown Service Center, and $83,353 to The Asian American Education Project **Total Giving:** • Total giving in 2024: $2,292,053 • Total giving in 2023: approximately $2.5 million in expenses **Scholarship Program:** The Cathay Bank Foundation Scholar…
Where does Cathay Bank Foundation make grants?
The foundation primarily funds initiatives in California, with additional grantmaking activity in New York and Texas. The scholarship program serves residents in California, Illinois, Massachusetts, Maryland, New Jersey, Nevada, New York, Texas, and Washington.
What size grants does Cathay Bank Foundation award?
In 2024, Cathay Bank Foundation awarded 223 grants totaling $2.3M — an average of about $10K per grant, based on its IRS Form 990 filings.
What is Cathay Bank Foundation's EIN?
Cathay Bank Foundation's EIN (Employer Identification Number) is 74-3052411. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Cathay Bank Foundation's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.