NC CPA Foundation Board Seeking Directors
The NC CPA Foundation Board is seeking directors to serve a three-year term beginning May 1, 2022. Information on responsibilities and requirements, as well as the application, can be found at this link.
Applications are due February 4, 2022 at 5:00 pm EST.
What is the NC CPA Foundation Inc.?
Since 1984, the NC CPA Foundation has worked in partnership with NCACPA to provide scholarships to students wanting to explore an accounting career and understand the opportunities that come with the CPA credential. The Foundation has awarded over $2 million in scholarships, impacting nearly 1,700 accounting students in North Carolina.
*Donations can also be made via check. Send personal checks to: NC CPA Foundation, Inc., PO Box 80188, Raleigh, NC 27623
The CPA Profession is Facing a Talent Shortage
5 Key Factors Affecting Our Talent Pool:
- Competition: Increased STEM programming in high schools and smaller graduating classes.
- Cost: Rising costs of higher education and CPA exam fees, along with exploding student debt.
- Teacher Shortage: A national shortage of tenured accounting faculty.
- Insufficient Supply: Competition is at an all-time high as businesses prepare for the surge of Baby Boomer retirements.
- Diversity Deficiency: The struggle to diversify the profession impacts innovation, ideas, and culture within organizations.
If left unchecked, firms and organizations employing CPAs may be ill-equipped to cope with these challenges, making the Foundation’s work more important than ever.
THE SOLUTION STARTS NOW
Attracting and supporting high quality students with a diversified education and background is needed to overcome the profession’s talent shortage. Through the following initiatives, the Foundation is expanding its reach across multiple points along the path to becoming a CPA:
High School*: To combat growing STEM competition, the Foundation seeks to attract high-quality students who might not otherwise consider accounting as a college major.
Two-Year College: The Foundation offers $1,500 scholarships to students pursuing an associate degree with the intent to enroll in a four-year program.
Four-Year College/University: The Foundation offers $2,000 scholarships to students entering or enrolled in an undergraduate program that allows them to either achieve the accounting concentration required to sit for the CPA Exam or earn the hours needed to enroll in a graduate program to achieve the concentration.
Master of Accounting: The Foundation offers $2,500 scholarships to students entering or enrolled in a graduate program which will allow them to achieve the accounting concentration required to sit for the CPA Exam.
CPA Exam*: The Foundation aims to help accounting students attain their CPA certificate by partnering with the state to offset exam and review fees.
PhD*: The Foundation is working to address the existing teacher shortage by supporting the AICPA Accounting Doctoral Scholars Program through stipends for PhD candidates.
*The Foundation is currently building the programs and logistics to support these initiatives.
Be the hero in an accounting student’s story
With this expanded reach comes an increased need for financial assistance. The Foundation aims to increase its investment in the accounting pipeline to $250,000 annually and drive long-term growth by establishing an endowment of $3 million to provide sustainable funding for the Foundation’s strategic initiatives.
NCACPA is comprised of members who know what’s it’s like to have someone invest in their journey to becoming a CPA. Whether it came in the form of a scholarship, passionate teacher, or mentor—investments in the Foundation’s work matter.
The Foundation could not accomplish its mission without the generosity of its donors.
We are grateful for those investing in the Foundation’s work.