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The Future of the Foundation

by Kimberly Scott | Nov 08, 2017
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Eleanor Roosevelt once said, “The future belongs to those who believe in the beauty of their dreams.”

During the past couple of years the trustees of the Washington CPA Foundation have been dreaming of the future, exploring the role of the Foundation. Obviously much has changed since the Foundation was formed in 1974 to provide scholarships to deserving accounting students in Washington State, but scholarships have remained the Foundation’s focus throughout the last 40+ years.

Thanks to numerous firms providing named scholarships and the Certified Public Accounting Scholarship Program (established by SB 5534 from Washington State Board of Accounting surplus funds), the Foundation remains well positioned to continue to provide scholarships. This year, the Foundation will be able to provide over $350,000 in individual $5,000 scholarships.

However, the Certified Public Accounting Scholarship Program funds are not an endowment, and must be spent down.  When the funds do decrease, should the Foundation continue to raise funds to meet the demand of scholarships, or should the Foundation focus on other challenges?

In August, you should have received a survey invitation from the Foundation. Thank you to the many WSCPA members (16%) who took the time to complete the survey. Your feedback is greatly appreciated and will be utilized by Foundation Trustees as they plan for the future and also by the WSCPA staff.

Although the survey data is still in raw form, I wanted to share some of the key results. The featured graph shows our members responses when asked what the Foundation’s mission should be.

The survey invited participants to rate specific areas for the Foundation to focus on outside of scholarships. Respondents were most interested in supporting the Foundation’s involvement in assisting students in job and career, improving the quality of accounting education, and focusing on growing the pipeline of students in Washington.

In the coming months, the Foundation Trustees and the WSCPA leadership will be working through the survey results to help create the programs you would like to see to create a better membership organization and a stronger profession in Washington State. Now that’s a dream that I believe in!

Kimberly Scott headshotKimberly Scott, CAE, is Executive Director of the Washington CPA Foundation and President & CEO of the Washington Society of CPAs. You can contact her at kscott@wscpa.org.

This article appeared in the fall 2017 issue of the WashingtonCPA Magazine. Read more here.

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