Foundation treasurer's report.

• Author: Kelty, Pamela S.
• Position: 2007 annual report

California CPA Education Foundation's financial statements for fiscal year ended April 30, 2007, the Foundation's 40th year of operations, demonstrate the organization's continued strength. The Foundation continues to provide outstanding continuing education to CPAs in California and other professionals in the state. Attendees also included CPAs from 10 other states and 17 individuals from foreign countries.

[ILLUSTRATION OMITTED]

The Foundation ended the year with more than $11 million in revenues and investment income was slightly less than $1 million. An all-time attendance record of 52,088 was reached for the 761 courses offered during the year.

To celebrate the Foundation's 40th anniversary, the cap limiting the VP program to 11 classes was eliminated, offering unlimited use to VP holders. The number of VP holders increased by 4 percent as a result of this offer, and full-pay attendance increased by 1.7 percent overall. Revenues from webcasts increased by 268 percent since the Foundation took over this endeavor from its third-party administrator and on-site training revenues increased by 51 percent. This year was definitely about the customers and...