﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" returnVersion="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-10-23T15:00:21-05:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <EIN>272817909</EIN>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>Dan Musick CPA PLLC</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>2108 Hunter Rd Ste 104</AddressLine1>
        <City>San Marcos</City>
        <State>TX</State>
        <ZIPCode>78666</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>201479543</EIN>
      <Name>
        <BusinessNameLine1>CROUCHING TIGER FUND</BusinessNameLine1>
      </Name>
      <NameControl>CROU</NameControl>
      <USAddress>
        <AddressLine1>1407 MIMOSA LANE</AddressLine1>
        <City>ROSENBERG</City>
        <State>TX</State>
        <ZIPCode>77471</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>KELCY HAHN</Name>
      <Title>DIRECTOR</Title>
      <DateSigned>2013-08-13</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>Dan Musick CPA</Name>
      <PTIN>P00399108</PTIN>
      <Phone>5123530800</Phone>
      <DatePrepared>2013-10-23</DatePrepared>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="4">
    <IRS990 documentId="IRS990">
      <NameOfPrincipalOfficerPerson>KC CHAN</NameOfPrincipalOfficerPerson>
      <GrossReceipts>825431</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <TypeOfOrganizationAssociation>X</TypeOfOrganizationAssociation>
      <YearFormation>1997</YearFormation>
      <StateLegalDomicile>TX</StateLegalDomicile>
      <ActivityOrMissionDescription>PROVIDE FINANCIAL SUPPORT TO UNDERGROUND CHURCHES IN CHINA</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>3</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>3</NbrIndependentVotingMembers>
      <TotalNbrEmployees>0</TotalNbrEmployees>
      <TotalGrossUBI>0</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>0</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>644371</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>825380</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenueCY>0</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>22</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>51</InvestmentIncomeCurrentYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>644393</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>825431</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>698269</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>646252</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcCurrentYear>0</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>1315</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>4363</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>699584</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>650615</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>-55191</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>174816</RevenuesLessExpensesCY>
      <TotalAssetsBOY>173520</TotalAssetsBOY>
      <TotalAssetsEOY>348336</TotalAssetsEOY>
      <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>173520</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>348336</NetAssetsOrFundBalancesEOY>
      <MissionDescription>PROVIDE FINANCIAL SUPPORT TO UNDERGROUND CHURCHES IN CHINA</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>646252</Expense>
      <Revenue>825380</Revenue>
      <Description>PROVIDE FINANCIAL SUPPORT TO UNDERGROUND CHURCHES IN CHINA</Description>
      <TotalProgramServiceExpense>646252</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="990A">true</DescribedIn501C3>
      <ScheduleBRequired>false</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <DonorAdvisedFunds>false</DonorAdvisedFunds>
      <ConservationEasements>false</ConservationEasements>
      <CollectionsOfArt>false</CollectionsOfArt>
      <CreditCounseling>false</CreditCounseling>
      <TermOrPermanentEndowments>false</TermOrPermanentEndowments>
      <ReportLandBldgEquip>false</ReportLandBldgEquip>
      <ReportInvestOthSecurities>false</ReportInvestOthSecurities>
      <ReportProgRelInvest>false</ReportProgRelInvest>
      <ReportOtherAssets>false</ReportOtherAssets>
      <ReportOtherLiabilities>false</ReportOtherLiabilities>
      <ReportFin48Footnote>false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt>false</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt>false</ConsolidatedAuditFinancialStmt>
      <School>false</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities referenceDocumentId="990F">true</ForeignActivities>
      <MoreThan5000KToOrganizations referenceDocumentId="990F">true</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations>false</GrantsToOrganizations>
      <GrantsToIndividuals>false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>false</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity>false</DisregardedEntity>
      <RelatedEntity>false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionRelatedEntity>false</TransactionRelatedEntity>
      <TransfersToExemptNonChrtblOrg>false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>0</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>false</ComplianceWithBackupWitholding>
      <NumberOfEmployees>0</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>false</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <QuidProQuoContributions>false</QuidProQuoContributions>
      <Form8282PropertyDisposedOf>false</Form8282PropertyDisposedOf>
      <FundsToPayPremiums>false</FundsToPayPremiums>
      <PremiumsPaid>false</PremiumsPaid>
      <Form8899Filed>false</Form8899Filed>
      <Form1098CFiled>false</Form1098CFiled>
      <ExcessBusinessHoldings>false</ExcessBusinessHoldings>
      <TaxableDistributions>false</TaxableDistributions>
      <DistributionToDonor>false</DistributionToDonor>
      <IndoorTanningServices>false</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>3</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>3</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>false</MembersOrStockholders>
      <ElectionOfBoardMembers>false</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>false</ConflictOfInterestPolicy>
      <WhistleblowerPolicy>false</WhistleblowerPolicy>
      <DocumentRetentionPolicy>false</DocumentRetentionPolicy>
      <CompensationProcessCEO>false</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>KELCY HAHN</NamePerson>
        <TelephoneNumber>5123533266</TelephoneNumber>
        <AddressUS>
          <AddressLine1>1407 MIMOSA LANE</AddressLine1>
          <City>ROSENBERG</City>
          <State>TX</State>
          <ZIPCode>77471</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <NoListedPersonsCompensated>X</NoListedPersonsCompensated>
      <Form990PartVIISectionA>
        <NamePerson>JESS ARIAS</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KC CHAN</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KELCY HAHN</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>0</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>0</TotalOtherCompensation>
      <NumberIndividualsGT100K>0</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <GovernmentGrants>825380</GovernmentGrants>
      <TotalContributions>825380</TotalContributions>
      <InvestmentIncome>
        <TotalRevenueColumn>51</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>51</RelatedOrExemptFunctionIncome>
      </InvestmentIncome>
      <TotalRevenue>
        <TotalRevenueColumn>825431</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>51</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
        <ExclusionAmount>0</ExclusionAmount>
      </TotalRevenue>
      <ForeignGrants>
        <Total>646252</Total>
        <ProgramServices>646252</ProgramServices>
      </ForeignGrants>
      <FeesForServicesLegal>
        <Total>210</Total>
        <ManagementAndGeneral>210</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>500</Total>
        <ManagementAndGeneral>500</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <ConferencesMeetings>
        <Total>3156</Total>
        <ManagementAndGeneral>3156</ManagementAndGeneral>
      </ConferencesMeetings>
      <OtherExpenses>
        <Description>BANK FEES</Description>
        <Total>497</Total>
        <ManagementAndGeneral>497</ManagementAndGeneral>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>650615</Total>
        <ProgramServices>646252</ProgramServices>
        <ManagementAndGeneral>4363</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>126634</BOY>
        <EOY>301398</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>44387</BOY>
        <EOY>44439</EOY>
      </SavingsAndTempCashInvestments>
      <OtherNotesLoansReceivableNet>
        <BOY>2499</BOY>
        <EOY>2499</EOY>
      </OtherNotesLoansReceivableNet>
      <TotalAssets>
        <BOY>173520</BOY>
        <EOY>348336</EOY>
      </TotalAssets>
      <TotalLiabilities>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>173520</BOY>
        <EOY>348336</EOY>
      </UnrestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>173520</BOY>
        <EOY>348336</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>173520</BOY>
        <EOY>348336</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>174816</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>false</FSAudited>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="990A">
      <PubliclySupportedOrg170b1Avi>X</PubliclySupportedOrg170b1Avi>
      <GiftsGrantsContribReceived170>
        <CurrentTaxYearMinus4Years>777208</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>677501</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>632168</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>644371</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>825380</CurrentTaxYear>
        <Total>3556628</Total>
      </GiftsGrantsContribReceived170>
      <Total170>
        <CurrentTaxYearMinus4Years>777208</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>677501</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>632168</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>644371</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>825380</CurrentTaxYear>
        <Total>3556628</Total>
      </Total170>
      <AmountsSubstContributorsTotal>1312555</AmountsSubstContributorsTotal>
      <PublicSupportTotal170>2244073</PublicSupportTotal170>
      <GrossInvestmentIncome170>
        <CurrentTaxYearMinus4Years>1307</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>123</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>22</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>22</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>51</CurrentTaxYear>
        <Total>1525</Total>
      </GrossInvestmentIncome170>
      <TotalSupport>3558153</TotalSupport>
      <PublicSupportPertcentage170>0.63070</PublicSupportPertcentage170>
      <PublicSupportPertcentPriorYear>0.84750</PublicSupportPertcentPriorYear>
      <ThirtyThreePercntTestsCY170>X</ThirtyThreePercntTestsCY170>
    </IRS990ScheduleA>
    <IRS990ScheduleF documentId="990F">
      <GrantRecordsMaintained>true</GrantRecordsMaintained>
      <AcctsActvsOutUSTable>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <NumberOfOffices>1</NumberOfOffices>
        <TypeOfActivitiesConducted>PROGRAM SERVICES</TypeOfActivitiesConducted>
        <SpecificServicesProvided>SUPPORT FOR CHURCHES</SpecificServicesProvided>
        <TotalExpenditures>646252</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <SubtotalNumberOfOffices>1</SubtotalNumberOfOffices>
      <TotalNumberOfOffices>1</TotalNumberOfOffices>
      <SubtotalAmountSpent>646252</SubtotalAmountSpent>
      <TotalAmountSpent>646252</TotalAmountSpent>
      <GrantsToOrgsOutsideUS>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <PurposeOfGrant>SUPPORT FOR UNDERGROUND CHURCH</PurposeOfGrant>
        <AmountOfCashGrant>109824</AmountOfCashGrant>
        <MannerOfCashDisbursement>WIRE TRANSFER</MannerOfCashDisbursement>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <PurposeOfGrant>SUPPORT FOR UNDERGROUND CHURCH</PurposeOfGrant>
        <AmountOfCashGrant>97307</AmountOfCashGrant>
        <MannerOfCashDisbursement>WIRE TRANSFER</MannerOfCashDisbursement>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <PurposeOfGrant>SUPPORT FOR UNDERGROUND CHURCH</PurposeOfGrant>
        <AmountOfCashGrant>197292</AmountOfCashGrant>
        <MannerOfCashDisbursement>WIRE TRANSFER</MannerOfCashDisbursement>
      </GrantsToOrgsOutsideUS>
      <GrantsToOrgsOutsideUS>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <PurposeOfGrant>SUPPORT FOR UNDERGROUND CHURCH</PurposeOfGrant>
        <AmountOfCashGrant>232052</AmountOfCashGrant>
        <MannerOfCashDisbursement>WIRE TRANSFER</MannerOfCashDisbursement>
      </GrantsToOrgsOutsideUS>
      <TotalNumberOfOtherOrgs>4</TotalNumberOfOtherOrgs>
      <TransferToForeignCorp>false</TransferToForeignCorp>
      <InterestInForeignTrust>false</InterestInForeignTrust>
      <OwnForeignCorp>false</OwnForeignCorp>
      <PassiveForeignInvestCo>false</PassiveForeignInvestCo>
      <ForeignPartnership>false</ForeignPartnership>
      <BoycottCountries>false</BoycottCountries>
    </IRS990ScheduleF>
    <IRS990ScheduleO documentId="990O">
      <GeneralExplanation>
        <Identifier>O01</Identifier>
        <ReturnReference>Form 990 governing body review Part VI line 11</ReturnReference>
        <Explanation>A COPY OF THE RETURN WAS MADE AVAILABLE TO THE BOARD PRIOR TO FILING</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>O02</Identifier>
        <ReturnReference>Governing documents etc available to public Part VI line 19</ReturnReference>
        <Explanation>DOCUMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>