The City Mill Company, Ltd. / Chung Kun Ai Foundation has made a recent donation to elevate their longstanding, annual scholarship to an endowment to support full-time, undergraduate students at the Shidler College of Business in perpetuity. The original City Mill Company, Ltd. / C.K. Ai Foundation Scholarship Fund was established in 2004 and has since awarded scholarships to 26 students.
“I’m grateful to City Mill for their continual and generous support of our students over the years,” says Vance Roley, dean of the Shidler College of Business. “By increasing their annual gift to an endowment, the City Mill Company, Ltd. / Chung Kun Ai Foundation Endowed Scholarship for Excellence will continue to grow and cultivate many scholarship opportunities for business students in the future.”
Having been a consistent and valued partner and supporter of the Shidler College, City Mill believes in the importance of business education and sees this endowment as an effective way to invest in the college and support aspiring business students.
“By establishing a scholarship endowment, we are contributing to our local business community by investing in our future business leaders,” says Carol Ai May, vice president of City Mill. “The Shidler College of Business has already greatly impacted the business community through its well-renowned programs, and we are honored to continue helping them provide more opportunities for their students to flourish.”
City Mill also advocates for business education through their support the Shidler College of Business’ Family Business Center of Hawai‘i, a center which provides educational programs
for family businesses so their legacy continues through future generations. In addition, President & CEO, Steve Ai, continues to serve as a longstanding member of the Shidler Advisory Council.
City Mill was established by Chung Kun Ai in Chinatown, Honolulu, in 1899 as a lumber importing and rice milling business. The company left its first mark on the Hawaiʻi community during World War II by providing resources to civilians and the armed forces. In 1960, City Mill began to expand and now has eight retail home center branches in Honolulu.
Chung Kun Ai’s legacy is continuing to impact the Hawaiʻi community today through third generation siblings, Steven C. Ai and Carol Ai May. They are enhancing the company’s business approach to better serve and provide for their customers, and are active in the community.