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Clarence T.C. Ching Foundation
The Clarence T.C. Ching Foundation, chaired by John K. Tsui, deploys grant capital from Honolulu real estate assets across Hawaii education and healthcare.
Clarence T.C. Ching Foundation
The Clarence T.C. Ching Foundation operates as a private charitable trust seeded by the late Clarence T.C. Ching, a Honolulu developer and banker whose business interests included the Loyalty family of companies and substantial downtown real estate holdings. After Ching's death in 1985, the foundation formalized its giving under a board chaired by John K. Tsui, a former banker and Ching's longtime business partner. The board includes family trustees Raymond J. Tam — Ching's nephew — and granddaughter Catherine H.Q. Ching, anchoring governance in both bloodline and business relationship. The foundation's grantmaking concentrates on Hawaii-based institutions, with education and healthcare as primary focus areas. Real estate forms the asset base: the trust owns the City Financial Tower at 201 Merchant Street in Honolulu and historically held Kukui Gardens, a mixed-use development on Vineyard Boulevard. Investment accounts at Charles Schwab provide liquid portfolio exposure alongside the direct real estate holdings. The foundation does not publicly disclose total assets or annual grant budgets. Executive Director Tertia Freas oversees day-to-day grant operations from the foundation's Merchant Street office. Freas maintains ties to Hawaii's financial establishment through a board seat at First Hawaiian Bank, the state's largest financial institution. The foundation's lean operational footprint — no additional offices, no publicly listed investment staff — suggests an endowment model where asset management runs through banking and brokerage relationships rather than an internal investment team. The foundation's structure as a private trust — not a public charity — limits disclosure requirements. The same Hawaii real estate roots that funded the foundation also created an economic nexus with First Hawaiian Bank, where an executive director holds a board seat, linking grant capital to the local banking ecosystem.
General information
Firm type
Endowment / Foundation
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Honolulu
Corporate office
201 Merchant Street, Suite 1840, Honolulu, HI 96813, United States
Principals
John K. Tsui
Chairman of the Board of Trustees
Raymond J. Tam
Trustee
Catherine H.Q. Ching
Trustee
Tertia Freas
Executive Director
Sector focus
Frequently asked questions
Who runs investment decisions at the Clarence T.C. Ching Foundation?
The foundation does not publicly disclose an internal investment team. Its asset base consists of directly held Honolulu commercial real estate — including the City Financial Tower — and Charles Schwab brokerage accounts. Investment oversight likely rests with the board of trustees, chaired by former banker John K. Tsui. Executive Director Tertia Freas manages operations and holds a board seat at First Hawaiian Bank, suggesting banking relationships play a role in asset management.
Where does the underlying wealth come from?
The foundation's wealth originated with Clarence T.C. Ching, a Honolulu-based real estate developer, banker, and philanthropist who died in 1985. Ching's business interests included the Loyalty family of companies and ownership of downtown Honolulu commercial properties. The foundation was established as a private charitable trust to formalize his philanthropic giving, with assets passing into the trust after his death.
How is the foundation governed?
Governance sits with a board of trustees that blends business legacy and family continuity. Chairman John K. Tsui was Ching's banking business partner. Trustees include Ching's nephew Raymond J. Tam and granddaughter Catherine H.Q. Ching. This structure maintains family involvement while placing operational leadership with Tsui, a career banker, and Executive Director Tertia Freas.
What does the foundation fund?
Grantmaking focuses on Hawaii-based education and healthcare institutions. The foundation operates as a private trust, not a public charity, which limits public disclosure of specific grant recipients and annual payout amounts. Its real estate holdings — including the City Financial Tower in downtown Honolulu — provide the asset base that funds these grants.
Does the foundation maintain any operating businesses?
The foundation appears to hold passive real estate investments rather than active operating businesses. Its predecessor — Clarence T.C. Ching's personal holdings — included the Loyalty family of companies, but the foundation's known assets today are limited to commercial real estate, a historical mixed-use development interest, and brokerage accounts. No current operating company ties are publicly disclosed.
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