Chung Kun Ai Foundation

HONOLULU, HI EIN: 99-6003289

The Chung Kun Ai Foundation is a private grantmaking foundation based in Honolulu, Hawaii. The foundation is closely connected to City Mill Company, Ltd., and operates under the leadership of the Ai family, whose patriarch Chung Kun Ai founded City Mill in the late 19th century.

Assess fit for your org

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$2.2M

-0.9% YoY

Annual Giving

$111K

-8.9% YoY

Grant Count

+4.0% YoY

Avg Grant Size

$2K

-12.4% YoY

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's stated mission is to "enrich the lives of Moiliili community by providing support, services and programs." The foundation supports educational initiatives, community development, and charitable causes, with particular emphasis on Hawaii-based organizations.

Grantmaking

The foundation has demonstrated grant activity in recent years. In 2021, the foundation awarded a $500 grant to Moiliili Community Center in Honolulu. The foundation has also established endowed scholarships in partnership with City Mill Company, Ltd., including the City Mill Company, Ltd./Chung Kun Ai Foundation Endowed Scholarship for Excellence at the Shidler College of Business at the University of Hawaii. This scholarship program, originally established in 2004, has awarded scholarships to 26 students and was elevated to an endowment to support full-time undergraduate business students in perpetuity.

Ready to take the next step with Chung Kun Ai Foundation?

Assess fit for your org Draft an LOI Find open RFPs

Geographic Focus

Where this funder awards grants

The foundation operates primarily in Hawaii, with a specific focus on Honolulu and the Moiliili community.

Grant Distribution by State

Hawaii $494K (96%)

Oregon $20K (4%)

States

Hawaii Oregon

Cities

CorvallisEwa BeachForest GroveHonoluluKailuaKaneohe

Financial History

Multi-year comparison from IRS filings

As of 2015, the foundation reported total assets of $1,979,117. The foundation is required to file IRS Form 990-PF as a private foundation. Recent giving totals approximately $121,250 annually.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$2,150,498	$2,169,070	$2,236,140
Revenue	$111,519	$91,215	$138,485
Expenses	$133,243	$142,619	$144,644
Qualifying Distributions	$113,531	$124,107	$122,769
Net Investment Income	$51,326	$50,741	$65,966
Distributable Amount	$130,720	$115,450	$118,229

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

235 grants across all recorded years

Giving History

Grant recipients and amounts by year

No grants recorded for .

Leadership & Key People

Leadership team and compensation from IRS filings

Steven Ai serves as president and CEO of City Mill Company, Ltd. and is listed as a key contact for the foundation. Carol Ai May serves as vice president of City Mill. David C. Ai, son of Chung Kun Ai, remains an active supporter of community organizations in Hawaii.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
YI CHUAN CHING	TRUSTEE	1	—
STEVEN C AI	TRUSTEE	1	—
CAROL AI MAY	TRUSTEE	1	—
DIANA BABA	TRUSTEE	1	—

Recent News & Activity

Recent developments and announcements

2025

In September 2025, the David C. Ai Charitable Trust announced a $3 million gift to the YMCA of Honolulu to support the renovation and naming of the Nuʻuanu YMCA. The gift recognizes Chung Kun Ai's role as one of the five founders of the local YMCA. The renovated facility will be completed in two phases, with construction scheduled to begin in 2027. The second phase will include affordable housing developed in partnership with housing experts and the city.

SL Chairman Lee Chung-gon donated 300 million won in the development fund