What an incredible year it has been for the Pennsylvania CPA Foundation! I am always proud of the work the Foundation and the PICPA do to support members at every stage of their careers. I can confidently say that the PA CPA Foundation is doing some of its best work yet, and we are only continuing to grow! This past year, the Foundation's advocacy for future CPAs has been particularly impactful, truly shaping the next generation of our profession.
The mission of the Pennsylvania CPA Foundation is to inspire students and support future CPAs as they embark on their professional journeys. Despite the many challenges we've faced in recent years, I firmly believe that now is an excellent time for students to consider a career in accounting. The field is evolving rapidly with new opportunities for students to leverage unique skills and involve technology in their education and career.
The Pennsylvania CPA Foundation will keep striving to enhance the accounting pipeline and support CPA candidates throughout their journey. But we can't do it without your help! I hope you find inspiration in the stories and achievements highlighted in this report, and I encourage you to remain an active part of our mission to cultivate the next generation of CPAs.
It has been an incredible year for the Pennsylvania CPA Foundation! My last three years as Chair of the board have been rewarding and I'm proud to pass the torch to Pam Baker, Managing Partner at Barbacane, Thornton & Company.
Firstly, I want to express my gratitude to all who have supported the Foundation's mission to inspire future CPAs. Your involvement is invaluable.
Over the past year the team has reshaped the work of the PA CPA Foundation to meet the ever-changing needs of the profession, students, educators, and the pipeline. With emphasis on future focused and readily available programming, the Foundation interacted with over thousands of students through virtual and in-person programming this year.
With a focus on pre-college level students, we have grown our high school student PICPA population to over 1200 students while our -college student membership has grown to more than 1850 potential CPAs. Additionally, over 1300 students viewed and used our online resources. We have increased our focus on advocacy to ensure more opportunities exist for these students as they enter the profession by ensuring PICPA representatives are in the conversations that matter around pipeline and licensure nationally.
As we face the profession's challenges, our commitment to supporting the pipeline remains steadfast. Your support enables us to fulfill this mission. Thank you for your continued support of our programming and the profession!
The Pennsylvania CPA Foundation inspires students to pursue careers in accounting and provides educational, motivational, and financial support to those working to attain the CPA credential. Through virtual and in-person events, advocacy efforts, and partnerships with leaders and stakeholders, we work tirelessly to improve the accounting pipeline and ensure the success of future CPAs.
High school students deciding on a college major are some of the most important members of the CPA pipeline. With exciting programming featuring engaging speakers, we're dispelling myths, answering questions, and showcasing first-hand experiences to give students the nudge they need to consider becoming a CPA.
Career Days are organized events that invite high school students to college campuses to promote a profession in accounting. These events include sessions led by PICPA members, breakout group discussions, and campus tours. Through these activities, the PA CPA Foundation successfully engaged with nearly 1,000 students.
The four Career Day programs hosted in 2023 were able to alter students perception of the accounting profession, as well as sway 18% more students to consider a major in it.
This year, an exhibit hall session was introduced during Villanova’s Career Day. Joined by five additional schools from the Philadelphia area, this session provided students the opportunity to engage with representatives from the accounting departments of Villanova University, Jefferson University, Drexel University, Saint Joseph’s University, Temple University, and Widener University. Due to the exhibit hall's success, this program will be expanded to the Career Day in Pittsburgh in 2024.
Thank you to our 2023 Career Day Hosts!
The Accounting Opportunities Experience is a month-long initiative in partnership with the AICPA, offering high schools across the state the opportunity to host a PICPA member in their classrooms. Members are equipped with a slide deck and promotional items from PICPA and AICPA to enhance their presentations to students. This program's objective is to encourage high school students to consider a career in accounting as they start making decisions about college and their major.
New to the Pennsylvania CPA Foundation this year, the Dual Enrollment program in partnership with Outlier.com marked a significant achievement. Eighteen students from various regions of the state engaged in the asynchronous, online "Intro to Accounting 1" three-credit course offered by the University of Pittsburgh. Notably, over half of these participants lacked access to accounting coursework within their own educational institutions. Funded entirely by the PA CPA Foundation, with contributions from firms and members statewide, this initiative has made a tangible impact on expanding opportunities for students interested in accounting. By directly addressing barriers to access, it contributes to nurturing a robust pipeline of talent for the accounting profession across the commonwealth.
Connecting with and supporting current accounting majors is crucial for strengthening the CPA pipeline. Our programs are designed to provide students with the leadership development, confidence, and opportunities necessary for success.
The goal of the Student Ambassador program is to increase awareness of the PICPA and the accounting profession on campuses throughout the commonwealth. This year, the requirements were adjusted to meet the ever-changing needs of students and the profession with an emphasis on social media presence and high school connections, promoting accounting as a career choice, and the benefits of PICPA membership for students.
51 student ambassadors in 42 colleges
370 social media posts
Ambassadors are required to hit a certain amount of posts each semester helping us engage with a larger student audience through various social media platforms
1,000 high school & 1,000 college students reached
Ambassadors must present to a college class on campus and a high school class in Pennsylvania
Following the high school Accounting Career Day at Penn State, a professionals panel for college students was introduced. The PA CPA Foundation and Penn State hosted 60 students, eager to hear insights and experiences from PICPA members working in public accounting, corporate finance and government positions. This initiative will also be expanded in the 2024 fall season.
This year we partnered with Penn State Abington to hold a CPA panel during an accounting class. PICPA members Moustapha Toure and Ashley Jiang from Kreischer Miller shared the different career paths a CPA can take and their journies to becoming a CPA.
Our scholarship program continued to thrive this year with over $200,000 distributed amongst 135 scholarship recipients.
Graduating seniors planning to major in accounting at a Pennsylvania college or university are eligible for High School Scholarships.
$20,000 awarded
57 applicants
20 scholarships given
College Scholarships are awarded on a competitive basis to Pennsylvania students in the categories of Academic Merit, Diversity, and Community College.
$150,000 awarded
177 applicants
88 scholarships given
NEW this year, the 150 Credit Scholarship is designed to help graduates cover some of the costs associated with completing college credits to become eligible for a CPA license.
$20,500 awarded
18 applicants
15 scholarships given
CPA Exam scholarships offer candidates the opportunity to cover costs associated with preparing for and passing the CPA Exam.
$20,000 awarded
12 applicants
12 scholarships given
With an emphasis on collaboration, the Pennsylvania CPA Foundation partnered with multiple organizations to continue to promote the accounting profession to over 5,700 students and educators, including:
As exhibitors at the annual PBEA conference, we connected with 150 high school educators.
PICPA and the IIA co-sponsor a case study competition with 75 college student participants and 20 PICPA member volunteers.
At the FBLA annual conference, 500+ students attended lectures given by PICPA volunteers, with 5500 total students and educators in attendance.
Advocacy is at the heart of the Pennsylvania CPA Foundation's mission. We strive to develop solutions that provide students with additional pathways to becoming a CPA, new opportunities to achieve their educational goals, and increased awareness of the rewarding career that awaits them in accounting.
The first CPA Awareness week was recognized throughout the commonwealth November 13th to 17th with Accounting Opportunities Experience, supporting advocacy of the profession to 1,300 high school students across the state.
The Work & Learn toolkit, developed by the PICPA, was created to alleviate the challenges associated with acquiring the additional 30 credits required for CPA licensure, as highlighted by research conducted by the PICPA and CAQ. By offering practical solutions, this toolkit helps firms and universities facilitate discussions on innovative approaches to assist students in meeting their credit requirements efficiently and affordably. These programs address key barriers identified in the research, providing a feasible solution that not only supports individual professional growth but also enhances the accounting industry by fostering innovation, diversity, and a sustainable talent pipeline. Through the implementation of Work & Learn initiatives, stakeholders can collaboratively pave the way for a more accessible, inclusive, and thriving accounting landscape in Pennsylvania.
Keeping an eye on national and statewide trends has been an important driver of Foundation strategy. We aim to create impactful programming to address key issues within the pipeline.
The National Pipeline Advisory Group (NPAG) was created to develop a unified strategy that reflects the needs of multiple stakeholders, leverages unbiased research, and leads to meaningful change. The Advisory Group is focused on boosting awareness of the profession’s vital role, driving innovative pipeline strategies, and ensuring the next generation of accountants is prepared for tomorrow’s challenges. The NPAG reflects diverse perspectives from across the profession. Members represent firms of all sizes, academia, CPA state societies, regulatory bodies, professional associations, and various career stages, among many other viewpoints. PICPA’s immediate past president, Betsy Krisher along with other national leaders spent countless hours seeking solutions to help address hurdles on the path to CPA licensure and provide flexibility for candidates of all backgrounds.
Initial recommendations were presented in the Draft Strategy Report based on the six major themes below that emerged from the data:
Grassroot efforts to inspire students can have a meaningful and measurable impact. NPAG is calling on everyone in the profession to take the Pipeline Pledge. The pledge is an individual commitment to participate in two activities of your choosing (visiting a local middle school, participating in a high school career fair, hosting a networking event for accounting majors, or mentoring a CPA candidate through the licensure process or their first year in the workplace) that can influence and grow the talent pool.
Thank you to all of the 2023-2024 Pennsylvania CPA Foundation donors. Our successes would not have been possible without your support.
A special thank you to the following donors for their immense generosity:
Establish the PA Foundation as a leader in innovative programming to support firms, companies, and schools deliver the most up to date and diverse information about the profession for students and CPA candidates to aid in their CPA journey.
Equip high school and college students with the latest industry insights and diverse resources, fostering a seamless journey towards CPA certification and increasing awareness for the profession at every stage of education.
Maintain and grow presence in the profession for college level, post-graduate and CPA examination support, positioning as a thought leader for guidance and resources.
Provide a better member volunteer experience, resulting in increased participation and commitment to advancing the profession through diverse and dynamic programming and outreach.
Enhance visibility and understanding of the accounting profession, including its challenges and opportunities, fostering growth with students, universities, members, and partner organizations through connections, social media, and advocacy.
Expand outreach efforts and secure funding for future programming endeavors, ensuring sustained growth and impact in serving the profession and its stakeholders.
As we reflect on the remarkable achievements of the past year, I am filled with excitement about what lies ahead. Our collective efforts have laid a strong base, and I am confident that together, we will continue to drive the Pennsylvania CPA Foundation forward in new and impactful ways.
Looking ahead to the next year, we have several key goals that will build on our successes and address the evolving needs of our profession.
First, we aim to position the Pennsylvania CPA Foundation as a leader in innovative programming to provide up-to-date and diverse information to firms, companies, and schools, supporting students and CPA candidates in their CPA journey.
Second, we will equip high school and college students with the latest industry insights and diverse resources, fostering a seamless journey towards CPA certification and increasing awareness for the profession at every stage of education.
Finally, we will enhance visibility and understanding of the accounting profession, including its challenges and opportunities, instilling growth with students, universities, members, and partner organizations through connections, social media, and advocacy.
These initiatives will require dedication and support at every stage of the pipeline. Together, we can inspire the next generation of CPAs and ensure the continued strength and relevance of our profession.
Thank you for your commitment to the Pennsylvania CPA Foundation. I look forward to working with all of you to achieve these goals and celebrate our successes in the coming year. Let's make it a year of growth, innovation, and impactful change.