What is the focus for the Cathay Bank Foundation’s charitable giving programs?
The funding focus for Cathay Bank Foundation's charitable contributions seeks to ensure that key community needs in each target community are addressed. Please refer to the Our Grant Focus page.
What organizations does the Foundation fund?
The Foundation supports tax-exempt, nonprofit organizations that are recognized by the Internal Revenue Service 501(c)(3) and serve the communities across the Cathay Bank service network. Our service network includes areas in California, Illinois, Maryland, Massachusetts, Nevada, New York, New Jersey, Texas, and Washington where Cathay Bank operates.
How is the Foundation managed and how are grant making decisions made?
The Foundation is guided by a group of directors who have demonstrated community involvement and leadership. The Foundation directors have established a grant review committee process with final awards determined by the Board of Directors. The majority of funds are distributed to impact priority issues.
How do you determine how much each market receives for its charitable budget?
Each year the Foundation determines charitable budgets based on where Cathay Bank conducts business.
How soon will my organization hear back from the Foundation?
The Foundation Board of Directors reviews all requests on a quarterly basis and responses will depend on the volume of the requests. Please refer to the Application Guidelines.
Does the Foundation place restrictions on requests?
Yes, due to the volume of requests, the Foundation is unable to consider every proposal. Requests not aligned with our focus or not in areas where Cathay Bank conducts business are unlikely to receive funding.
How specific do our application answers need to be?
Please be as specific as possible. The more detailed information provided, the better.
What is the range of grant amounts funded?
New applicants will not receive more than a $5,000 grant.
Does the Foundation accept unsolicited requests?
No, Cathay Bank Foundation does not accept unsolicited requests. All nonprofit organizations wishing to apply for a grant through the Cathay Bank Foundation must be invited by a Cathay Bank or Foundation Officer.