Cathay Bank invests $385,000 in community nonprofits

Representatives from 37 community nonprofits received a total of $385,000 in grants from the Cathay Bank Foundation on Dec. 18.
Photo by Sherri Rossi
Photo by Milo Hess
SVP District Administrator Elizabeth Lee and Cathay Bank President and CEO Mr. Pin Tai.

He didn’t wear a red suit, but Cathay Bank head Pin Tai played Santa on Dec. 18, doling out $385,000 in grants to nonprofit groups across New York and New Jersey at a lavish luncheon at Chinatown’s Golden Unicorn restaurant.

“We started Cathay Bank 55 years ago because we wanted to help those in need,” Tai said. “The spirit of what makes up Cathay Bank hasn’t changed at all. We are proud to offer support to help these organizations that empower individuals in need, with grants being one of the many ways we use to solidify our 55-year commitment.”

The Cathay Bank Foundation was founded in 2002 with a mission to support the growth and success of the communities Cathay Bank serves, and it has expanded its support with this new round of grants for 2018, according to Tai.

Photo by Sherri Rossi
Representatives from 37 community nonprofits enjoyed a lavish luncheon at Chinatown’s Golden Unicorn restaurant hosted by Cathay Bank on Dec. 18.

“In 2017, 28 nonprofit organizations were awarded grants. Cathay Bank expanded the amount of grants and awarded 37 nonprofit organizations this year and significantly increased the total amount given,” he said.

Following a seemingly endless succession of steamed dumplings and other dim sum delicacies, Tai presented representatives of each organization with a grant check, before posing with all the beneficiaries for a light-hearted photo with a giant check representing the foundation’s entire $385,000 in donations.

“We encourage each other to make our communities and country a better place to work,” Tai said. “If our customers do well, they will give back to their community, too.”


The Cathay Bank Foundation’s 2018 grantees were:

I Have a Dream Foundation

Abilities of Northwest Jersey, Inc.

Asian American for Equality

Breaking Ground

Chinatown Manpower Project, Inc.

Chinatown Partnership Local Development Corporation

Chinatown YMCA

Chinese-American Planning Council, Inc.

Community FoodBank of New Jersey

Domestic Abuse and Sexual Assault Crisis Center of Warren County

Family Food Relief of New Jersey

Flushing Council on Culture and the Arts, Inc.

Garden of Hope

Greater New York Chinese Dollars for Scholars

Henry Street Settlement

Housing Partnership Development Corporation

Immigrant Social Services, Inc.

Intrepid Sea, Air & Space Museum

Kingsbridge Heights Community Center, Inc.

Korean American Family Service Center

Let’s Get Ready

LifeWay Network, Inc.

Literacy Inc.

Most Holy Redeemer Catholic Academy, St. Michael’s

Museum of Chines in America

Neighborhood Trust Financial Partners

new Destiny Housing Corporation

New Jersey Citizen Action Education Fund, Inc.

New Women New Yorkers

New York Chinese School

New York-Presbyterian/Lower Manhattan Hospital

School of Children with Hidden Intelligence

Selfhelp Community Services, Inc.

Sierra House

The Child Center of NY, Inc.

The Doe Fund

The HOPE Program

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