New addition to CalCPA family.

• Author: Waters, Susan B.
• Position: From the CEO - CalCPA Institute

CalCPA enters a new era of expanded services to our members and the public with the formation of the CalCPA Institute. The Institute is a supporting 501(c)(3) organization and its initial activities will be to support our financial literacy initiative, which was launched last year by CalCPA Chair Steve Wimmers to address shocking levels of financial illiteracy among Californians.

Chaired by Michael Eisenberg, CalCPA's Financial Literacy Committee provides Dollars and Sense workshops for the public in concert with elected officials at the state and municipal levels; partners with Junior Achievement in elementary schools; collaborates with the Jump$tart Coalition; and generally takes the message of personal financial empowerment to as many Californians as we can reach.

While still developing, the program has been incredibly active and has received national recognition. The California Legislature even declared April 2004 Financial Literacy Month, specifically recognizing CalCPA's contributions. For more information on the initiative, visit www.calcpa.org/FLC.

A STRUCTURE FOR THE FUTURE

CalCPA Institute will allow CalCPA to seek and receive financial support for our financial literacy initiative--and future initiatives. Already, the California CPA Education Foundation has committed to a $25,000 contribution. While CalCPA members support the financial literacy program through volunteer hours and dues, CalCPA Institute opens new opportunities for funding from individuals and institutions who share our dedication to improving the financial literacy of Californians.

For instance, other foundations dedicated to improving financial literacy may want to leverage their funding with the volunteer energies of CPAs, understanding that CPAs are in a unique position to provide leadership in this area. CalCPA's retired and life members may want to make tax-deductible contributions to CalCPA's financial literacy program--or scholarships--and we now have one vehicle to accept those contributions.

THE BIG PICTURE

As trusted advisers, you know that we could have accomplished this program without forming a new corporation. But the CalCPA Board and Council formed CalCPA Institute out of a broader vision of how CalCPA can support its vision and strategic focus of strengthening the profession, contributing to members' success and ensuring CalCPA's success.

CalCPA Institute strengthens the profession by demonstrating to the public the profession's core value of...