California CPA Education Foundation treasurer's report.

• Author: Cantrell, Adrienne L.
• Position: Annual report

The 2009-10 fiscal year has been incredibly positive for the Education Foundation, especially given our challenging economic times. The Foundation's management team has made timely decisions in response to the changing face of a very competitive market. The results include gross revenues of nearly $13 million and an overall increase in net assets of more than $2.4 million. A number of factors contributed to our Foundation's ability to thrive, not the least of which is the influence of technology. The demand for courses offered via webcast has grown beyond our expectations and our distance learning team has been able to respond quickly and effectively. With the implementation of even more sophisticated equipment, the ability to develop and produce additional, high-quality distance learning products will be enhanced.

Our hard fought legislative victories have required the foundation to flexibly respond with new offerings to accommodate new regulations. We have created CPA Activate to focus on providing CPE to those who wish to convert their license to active status; and we have evolved the Ethics a courses to comply with the new CRA regulations for Regulatory Review and PC&E requirements...