The Cathay Bank Foundation will consider grants in the areas outlined below. Note that the focus will be on assisting nonprofits that serve a majority (greater than 50%) of low- and moderate-income (LMI) people and/or communities.
Community & Economic Development
- Programs to preserve, rehabilitate and construct affordable housing in low- and moderate-income (LMI) areas;
- Organizations that provide home-buyer counseling to families in LMI communities;
- Programs that support small business development, commercial revitalization and job creation;
- Programs tailored to assist LMI individuals in development of work and life skills, with a specific emphasis on work-entry programs, skills training and employment retention;
- Services catered to seniors, workforce development, and individuals with disabilities;
- Civic organizations that focus on development of neighborhoods and raising awareness of social issues.
Education
- Innovative programs that offer assistance to LMI youths to excel in school and prepare for higher education;
- Financial literacy programs for youth and adults in LMI communities;
- Effective mentoring programs for at-risk youths;
- Student scholarship programs focused on finance-related studies;
- Literacy, math, parent engagement efforts and English as a Second Language (ESL) programs;
- Entrepreneurship education programs for underserved youth.
Health & Welfare
- Homeless, crisis shelters, and battered women shelters;
- Programs that provide services to children and families at risk;
- Soup kitchens and food banks;
- Health prevention and education targeted to conditions such as diabetes, obesity, asthma; insurance enrollment of uninsured children and adults; mental health services; and fitness and nutrition.
Eligibility Criteria
The Foundation will place a strong emphasis on nonprofit organizations that are results-oriented and market-savvy. The organization’s programs and services must:
- Target the low- and moderate-income population;
- Display leadership and vision in the community;
- Provide tangible benefits to the communities they serve;
- Have an effective system to measure and report results with a demonstrated track record;
- Have established strategic alliances with the community to face expected challenges;
- Have 501(c)(3) tax-exempt status from the IRS;
- Be equal opportunity employers;
- Display fiscal and administrative responsibility.
Ineligible Organizations
The Cathay Bank Foundation cannot support the following:
- Organizations without 501(c)(3) status;
- Organizations/programs that are not aligned with the Foundation’s mission;
- Organizations that are located or benefit areas outside Cathay Bank’s communities;
- Private foundations;
- Organizations with missions to influence or participate in political campaigns on behalf of or against a candidate or initiative;
- Organizations that channel grant funds to third parties;
- Service club activities;
- Funding of travel and related expenses for any organization.
