INCPA Educational Foundation Endowment Fund

Investing in the Future of the CPA Profession
The Endowment Fund was created in October 1989 in honor of Jack Noble, former executive vice president of the Indiana CPA Society. In March 2000, the Foundation Board of Trustees approved a proposal to distribute the remaining endowment funds to separate 501(c)3 entities that would allow continuing financial assistance to accounting students. The Indiana CPA Educational Foundation no longer directly distributes scholarship funds. Currently, funds received are distributed to each of the following organizations, allowing all Indiana colleges and universities with accredited accounting programs a chance to receive financial assistance for their students through these distribution methods.

Both organizations are responsible for announcing the scholarships available as well as determining the number of scholarships awarded each year.

Ball State Foundation
This foundation is responsible for managing the endowment for state supported colleges and universities. Scholarships are awarded on a rotating basis on a five-year cycle. The dollar amount for each scholarship is intended to be $1,000, however, this amount depends upon available earnings and whether or not they are adequate.^*

Independent Colleges of Indiana
Independent Colleges of Indiana (ICI) represents the state's 31 private colleges and universities. A gift to ICI will be invested into a restricted scholarship fund to be administered by ICI with annual scholarships going to accounting students on a competitive grant basis. It is intended that each year total scholarship grant awards total from $2,000 to $3,000, among 4 to 6 students; however, this amount depends upon available earnings and whether or not they are adequate.^*

^*Each institution has the discretionary means to establish both the number and amount of scholarships distributed with the intention that each individual dollar amount is at, near or above $1,000.