The OSCPA Educational Foundation

2010-11 Annual Report

Where Does Growth Come From? A Message from the 2011-12 Foundation Board President Dear OSCPA members: As the young boy skipped down the soggy mountain trail, his father pulled him aside to reveal an amazing discovery. Pointing out the weathered stump of a once-mighty fir that had been felled by a winter storm, the boy marveled at the young tree sprouts that were birthed out of the very heart of the old stump. The tree was not dead after all and was actually sustaining the life of several new trees. While this phenomenon is common in our Oregon timber forests, I learned some valuable lessons that day. First, one generation is here to pass the torch to the next, yet we cannot survive without one another. And second, through the greatest storms often come the most growth. We have certainly found this to be true in our profession. With Baby Boomer retirements in full swing, there is clearly a changing of the guard occurring in our country and certainly in the field of public accounting. While technology and globalization have changed the way we conduct business, the timeless principles of integrity, work ethic, and diligence taught to us by the previous generation will never cease to be the cornerstones of all successful CPA practices. In addition, with the scars from an economic collapse still fresh in our minds, what did not kill us has made us stronger. We have weathered the storm, dusted ourselves off, and gotten back to growing our firms through a steadfast commitment to serving the best interests of our clients. Whether those clients are thriving or struggling, their needs are many and, as CPAs, we are there to help them reach their destination. While our country appears to be turning the proverbial economic corner, CPA firms nationwide are firing up the recruiting machine once again and hiring in great numbers in anticipation of renewed growth. However, with growth, coupled with the exit of a generation of leaders, where will the new CPAs come from? The OSCPA Educational Foundation exists for such a time as this. Since its formation in 1985, the Foundation has given more than $1.3 million in scholarship assistance, propelling over 900 students toward their degree and into the accounting profession. In the past year alone, 58 students from Oregon’s 16 accredited accounting schools received awards aggregating more than $107,000. Scholarship recipients were recently honored in May at the OSCPA’s annual Circle of Excellence awards banquet, which had over 240 people in attendance.

While we are proud of the Foundation’s accomplishments, we also realize that we are just scratching the surface on what can and must be done in order to meet the needs of our growing profession in the years to come. We, the current team of Oregon CPAs, are the stumps that the young sprouts cannot survive without. They have a bright future and will someday shade us from the storms that come our way. By contributing to the OSCPA Educational Foundation, we collectively invest in our future success. My oldest son will be starting college this year, so I am learning firsthand how the cost of a quality education has dramatically increased. In order to encourage young accounting majors to stay the course despite these financial obstacles, on behalf of the Foundation Board, I ask that you make a generous donation to the Foundation this year. Whether your gift is $50 or $50,000, the amount is not as important as us working together to support the future of the profession. Many of you have donated faithfully for years. For that, we are deeply grateful. For those who have not, now is the time! In addition to its annual appeal for support, the Foundation can assist with bequests, charitable remainder trusts, gift annuities, endowments, and other tools designed to meet donor objectives. Please contact the OSCPA with any questions on how you might get involved. Lastly, I would like to take this opportunity to thank Alan Steiger – a true pillar in the Oregon CPA community – for serving as the Foundation Board President over the past two years. The Foundation and the CPA profession in Oregon would not be where it is today without the many years of leadership, wisdom, and selfless service of Alan. Thank you, Alan! Teaming with you,

Alex M. Corrigan, CPA 2011-2012 President The OSCPA Educational Foundation

1

2010-11 OSCPA Educational Foundation Board of Directors Officers President

Alan L. Steiger, CPA, Wilsonville

President-Elect

Alexander M. Corrigan, CPA – Delap LLP, Lake Oswego

Secretary/Treasurer

Phyllis B. Barker – Oregon Society of CPAs, Beaverton

Directors

Dr. Elizabeth D. Almer, CPA – Portland State University, Portland Fritz S. Duncan, CPA – Jones & Roth PC, Eugene Ann M. Ferguson, CPA – Deloitte & Touche LLP, Portland Kevin J. Gienger, CPA – Boldt Carlisle & Smith LLC, Salem Tania D. Gitch, CPA – Isler Northwest LLC, Portland Shane M. Graves, CPA – Hoffman Stewart & Schmidt PC, Portland

Dr. Michele C. Henney, CPA – University of Oregon, Eugene Gary A. Holcomb, CPA – Ernst & Young LLP, Portland Gary C. Homsley, CPA – Grant Thornton LLP, Portland Grant L. Jones, CPA – Perkins & Company PC, Portland Frederick M. Koontz, CPA – Koontz & Perdue PC, Albany Cheryl L. Langley – Oregon Society of CPAs, Beaverton Debra L. Magnuson, CPA – Regence, Portland Suzanne P. McGrath, CPA – Vision Capital Management Inc., Portland Jared A. Moore, CPA – Oregon State University, Corvallis Paula J. Palmer, CPA – Bunce Palmer CPAs, Portland Joyce Rawlinson, CPA, Wilsonville Dwayne S. Richardson, CPA – PricewaterhouseCoopers LLP, Portland Carey A. Wendle, CPA – KPMG LLP, Portland Richard W. Wingard, CPA – Maginnis & Carey LLP, Portland

Thanks to You, We are $1.3 Million and Growing

Since 1985, The OSCPA Educational Foundation has awarded financial aid to more than 900 deserving students. That includes a distribution of more than $1.3 million in 26 years. With ongoing support from OSCPA members and their businesses — $107,525 in donations funded 58 scholarships this past year — the Foundation strives to work toward the $2 million mark and beyond. These dollars help the Foundation continue to recognize students for their academic success, community leadership, and desire to pursue an accounting degree and CPA career. The OSCPA Educational Foundation extends its appreciation to all who made this year a success. In addition to general fund contributions, many Oregon public accounting firms, businesses, and individuals donate scholarships in their name. We thank the following donors who made contributions from June 1, 2010, to May 31, 2011.

Stanley G. Renecker Dale W. Suran

GOLD DONORS ($250-499)

Kent J. Bailey Michael G. Conner Dr. Michele C. Henney Robert S. Jarrett Debra L. Magnuson Read & Bose PC

SILVER DONORS ($100-249)

DIAMOND DONORS ($1,000 and over)

Alten Sakai & Company LLP American Institute of CPAs Stephen P. & Mayno Blanding Boldt Carlisle & Smith LLC Nichols M. Cutting Delap LLP Deloitte & Touche LLP Ernst & Young LLP Ann M. Ferguson Grant Thornton LLP Grove Mueller & Swank PC Hoffman Stewart & Schmidt PC Isler CPA LLC Isler Northwest LLC Grant L. Jones

2

Jones & Roth PC Kernutt Stokes LLP Koontz & Perdue PC KPMG LLP Maginnis & Carey LLP McDonald Jacobs PC Suzanne P. McGrath Melvin T. Nygaard Perkins & Company PC PricewaterhouseCoopers LLP Talbot Korvola & Warwick LLP Scott R. Wright

PLATINUM DONORS ($500-999)

Elise C. McGuire Paula J. Palmer

OSCPA Educational Foundation Report 2009-10 2010-11

Linda L. Barkus David E. Benneth Kevin Billings James E. Bisio David O. Blumhagen Cathy A. Brunscheon Maurice C. Bye Christi A. Cawood Wee Yuen Chin Robert H. Church William D. Cote Mary F. Downs Shirley Dunn Lynn M. Edison Janice M. Essenberg Jan T. Fancher Michael K. Farnsworth

Leon F. Ficker Robert A. Gale Thomas B. Gau Charles W. Gebhardt Dana M. Gibbons Randell C. Guyer, Jr. Jess A. Hamby Eileen R. Hartmann Gary C. Homsley Gary H. Hunt Mary L. Janousek Neville S. Johansen Robert D. Jurgenson Timothy A. Kalberg Sultan N. Khan Richard G. Larson Linda W. Liebeno Markusen & Schwing CPAs Amy E. Mauss Jay L. Maxwell John R. McClure Stephen S. McConnel Kathleen A. Miller Jared A. Moore Paul T. Mueller Daniel B. Myers-Power Daniel M. O’Leary Larry A. Olson Joanne E. Ossanna Jan Ellen Pailthorp Don L. Pinkham Edward D. Powell Jay Hjalmar Rathe Regence James J. Rigos Janice W. Romano Charles S. Rosenblum Kenneth B. Ross

Robert E. Rufener Kathleen K. Sampson Jeffery S. Schilling Karey A. Schoenfeld George C. Scott Steven F. Simpson Benjamin F. Smith Teresa J. Spada Amanda Steffenhagen Casey D. Stepan David J. Taylor Terrill J. Taylor The Rite of Spring Lawrence A. Van Dyke John F. Wagner Jessica L. Williams Mark M. Williams Matthew G. Williams Richard W. Wingard Yvonne D. Zbranak

BRONZE DONORS ($50-99)

David C. Bledsoe Randall E. Clawson Michael J. Emert Judith L. Faulstick Christopher T. Foy Michele J. Gore Robert N. Griffith Georgette G. Hagerman John H. Hancock Cynthia A. Harelson David M. Herman Ralph M. Hildreth

Hani K. Hunaidi Herbert S. Kim Douglas B. McCulley Kathryn M. McLaughlin Maria Mussellem Ben G. Neumayer Judy Nielsen Sandra B. Obradovich Patrick J. O’Rourke James T. Searcy Darren S. Shelburne Sally Smith Lisa M. Stennick Richard E. Surroz Kenneth J. Wachter Roger M. Williams Frances Wolfe

DONORS (up to $49)

Linda S. Craig M. Alexis Dow Nikki L. Kobliha Nancy R. Lee Sally M. Lowery Sherri L.D. McPherson Kurt M. Sand Connie Schwendemann Mylen N. Shenker Charles A. Swank P. R. Trachtenberg Kimberly A. Walton Melonie J. Waters Maurice R. Williams

Every effort has been made to ensure the accuracy of this list. Please contact The OSCPA Educational Foundation at 503-641-7200 / 1-800-225-1470 or [email protected] to report errors or omissions.

Endowment Funds

Many contributors have established and funded endowment that help to secure the Foundation’s future. We thank you! Contributions may be directed to these endowment funds at any time, or new endowment funds may be established (minimum $50,000).

Established Endowment Funds Lynne M. Angland Memorial Endowment Stephen P. & Mayno Blanding Endowment Myron J. Fleck Endowment James B. Gaffney Endowment Robert L. Gantenbein Memorial Endowment Randell C. Guyer & Son Endowment Robert F. Isler Memorial Endowment Raymond & Marilyn Johnson Endowment

Anna L. May Endowment Anna L. May 5th Year Endowment Suzanne P. McGrath Endowment Melvin T. Nygaard Endowment Jan Ellen Pailthorp Endowment Alan L. Steiger Endowment Donald L. Tang Endowment

33

2011 Scholarship Recipients

The OSCPA Educational Foundation scholarship recipients are students with tremendous intellectual talent, who want to attend college to enter the accounting profession. They just need a little financial support. Scholarships are awarded to college students planning on majoring in accounting and to those students pursuing their 5th year of education at an accredited Oregon college or university. This year the Foundation awarded 58 scholarships totaling $107,525 (scholarship amounts range from $1,000 - $3,000) to the following college recipients: Brad J. Alvarez Oregon State University Talbot Korvola & Warwick LLP Scholarship

Marsha M. Hill Oregon State University KPMG LLP Scholarship

Lindsey S. Andress University of Oregon Moss Adams LLP Scholarship

Jerrika Jerome Washington State University-Vancouver Maginnis & Carey LLP Scholarship

Denise E. Anderson University of Oregon Anna L. May Endowment Scholarship

Kelsey E. Bennett George Fox University Deloitte & Touche LLP Scholarship

Ryan A. Bennett University of Oregon PricewaterhouseCoopers LLP Scholarship Amanda L. Bergantino Southern Oregon University Moss Adams LLP Scholarship Nick R. Bottcher University of Oregon Delap LLP Scholarship

Penny L. Brandon Concordia University Grove Mueller & Swank PC Scholarship

Sarah J. Brillhart University of Oregon PricewaterhouseCoopers LLP Scholarship

Kellan S. Davis University of Oregon Grant Thornton LLP and Emerald Empire LSA Scholarship

Brooke M. Davis Northwest Christian University Robert F. Isler Memorial Endowment Scholarship Ryan L. Dingler University of Oregon Hoffman Stewart & Schmidt PC Scholarship

Dorin Fachiol University of Oregon Ernst & Young LLP and Emerald Empire LSA Scholarship Paul M. Gibson University of Oregon Grant Thornton LLP Scholarship

Hannah M. Harley Portland State University Deloitte & Touche LLP Scholarship

Spencer C. Herbert University of Oregon L. Parry Ankersen Memorial Scholarship

44

OSCPA OSCPA Educational Educational Foundation Foundation Report Report 2010-11 2009-10

Kerry M. Hinch University of Oregon Jones & Roth PC Scholarship

Brittney C. Johnson Pacific University Perkins & Company PC Scholarship

Casey T. Kaiser Oregon State University PricewaterhouseCoopers LLP Scholarship Eric Kaster University of Oregon KPMG LLP Scholarship

Ekaterina A. Kostenko Southern Oregon University Robert L. Gantenbein Endowment Scholarship Monish M. Lal Portland State University Myron J. Fleck Endowment Scholarship Darren J. Leitzke Oregon State University Grant Thornton LLP Scholarship Riana D. Linsky University of Oregon Isler CPA LLC Scholarship

Taylor M. Lund-Fery University of Oregon PricewaterhouseCoopers LLP Scholarship

Yanni Ma Portland State University Raymond & Marilyn Johnson Endowment Scholarship

I want to express my heartfelt gratitude to The OSCPA Educational Foundation for sponsoring the Anna L. May Endowment scholarship I received. Your support will help me finish my Master’s degree from the University of Oregon, a place I have grown to love. I am excited to graduate next year and pursue a career in accounting. Thank you so much for your generosity.

Denise Anderson, University of Oregon

William C. Marks University of Oregon Deloitte & Touche LLP Scholarship

Annamarie M. Millard University of Oregon PricewaterhouseCoopers LLP Scholarship

Benjamin B. Miller Oregon State University Koontz & Perdue PC and Nichols M. Cutting Scholarship Colin T. Nishitani University of Oregon Anna L. May Endowment Scholarship Monte D. Nussbaumer Portland State University McDonald Jacobs PC Scholarship

Thank you for selecting me as a recipient of a Moss Adams LLP scholarship. I am very grateful for this award and will continue to pursue my education in accounting at Southern Oregon University. As my junior year comes to a close, I look forward to the accounting opportunities that lie ahead.

Amanda Bergantino Southern Oregon University

Tiffany N. Phillips University of Oregon Kent J. Bailey Scholarship

Cody R. Taylor Western Oregon University Boldt Carlisle & Smith LLC Scholarship

Lynn M. Robinson Linfield College Koontz & Perdue PC Scholarship

Sonia L. Thannickal George Fox University Alten Sakai & Company LLP Scholarship

Danielle T. Roisom Oregon State University PricewaterhouseCoopers LLP Scholarship

Victoria J. Walker Linfield College Cheryl L. Langley and Alan L. Steiger Endowment Scholarship

Mindi Primley Washington State University-Vancouver Stephen P. & Mayno Blanding Endowment Scholarship

Veda C. Taylor Warner Pacific College Delap LLP and PricewaterhouseCoopers LLP (pro-bono) Scholarship

Lydia S. Robrecht-Weick Portland State University Lynne M. Angland Memorial and Donald L. Tang Endowment Scholarship

Kimberly M. Tiger Southern Oregon University Alten Sakai & Company LLP Scholarship

Aaron C. Sachs University of Oregon PricewaterhouseCoopers LLP Scholarship

Jingyan Wang Portland State University Grant Thornton LLP Scholarship

Akiyoshi Saito Oregon State University Deloitte & Touche LLP and Melvin T. Nygaard Endowment Scholarship

Ryan W. Schas Oregon State University Harrigan Price Fronk & Co. LLP Scholarship Myles T. Shafer University of Oregon Perkins & Company PC Scholarship Traci A. Sirotiak George Fox University KPMG LLP Scholarship

Jonathan Steinberg University of Oregon PricewaterhouseCoopers LLP Scholarship

Minxiang Sun George Fox University Hoffman Stewart & Schmidt PC and Michael G. Conner Scholarship Yusuf M. Surucu Portland State University Moss Adams LLP Scholarship

Krysti L. Weller Oregon State University Grant Thornton LLP Scholarship William D. Whelan University of Oregon Kernutt Stokes LLP Scholarship

Tom M. Wiederrecht Portland State University Maginnis & Carey LLP Scholarship Leah E. Winslow University of Oregon KPMG LLP Scholarship

Kevin Xue Portland State University Isler Northwest LLC Scholarship Andy H. Zhao Portland State University Grant Thornton LLP Scholarship

I am honored to be selected as one of the recipients of an OSCPA Educational Foundation scholarship. Thank you so much for your generosity and thoughtfulness in regards to this award. Without scholarship patrons like you, there would be many students such as myself unable to pursue the career they’ve dreamed of. I am doing a double major in accounting and management, minor in finance. I have enjoyed accounting throughout high school and in college so far. I am currently a junior at Portland State University taking 17 credits this term. My anticipated graduation is in the spring of 2012, after which I plan on working on my CPA license. This scholarship has lightened by financial burden, which allows me to focus more on my education and less on financial aspects of college. Your generosity has inspired me to help others and give back to the community. Once again, my hearty thanks to the Foundation for making this scholarship possible.

Monish Lal Portland State University

5

The OSCPA Educational Foundation Planned Giving www.orcpa.org/educational_foundation/planned_giving

There are so many worthy endeavors for today’s philanthropist, as well as an incredible array of financial instruments designed to make giving easy to plan and manage. The OSCPA Educational Foundation has a Planned Giving program to increase the variety of giving options and streamline the donation process. The Foundation created a mix of tools to meet the needs of its donors — with tax advantages built right in. All donations benefit tomorrow’s CPA, with scholarship monies being awarded to worthy students statewide. Make a donation to the Foundation and ensure that your contribution is making a difference in your community and for the CPA profession. Following are various options for your consideration as you determine the best way for you to make a contribution to The OSCPA Educational Foundation: • General Fund and Named Contributions • Endowment Funds • Retirement Plans • Estates

• Real Estate

• Life Insurance • Gift Annuities

• Charitable Trusts

For more information on how you might include The OSCPA Educational Foundation in your planned giving strategies, contact Phyllis Barker at 503-641-7200 / 1-800-255-1470, ext. 27, [email protected]. 6 OSCPA Educational Foundation Report 2009-10

Share Our Vision — Contribute Today!

The future of the CPA profession is in your hands. Share our vision and help us grow a future work force of CPAs who can contribute to the economic vitality of Oregon business. Please take a moment to consider how you can make a difference — it is your future too and the future is bright.

YES! I want to support the future of the CPA profession with a tax-deductible donation to The OSCPA Educational Foundation. Name___________________________________________________________________________________________________ Company Name __________________________________________________________________________________________ Mailing Address _________________________________________________________________________________________ City/State/Zip___________________________________________________________________________________________ Email___________________________________________________________________________________________________ Phone ___________________________________________________________________________________________________

Contribution Options General Fund Contributions

Individuals and businesses may donate an amount toward current year scholarships based on the Foundation’s suggested categories: Diamond $1,000 or more • Platinum $500–999 • Gold $250–499 • Silver $100–249 • Bronze $50–99 • Other up to $50 Total Contribution: $________________________

Please choose one:

Apply my contribution to the general scholarship fund Apply my general fund contribution to the___________________________________ scholarship or endowment fund

Named Scholarship Contributions ($2,000 or more) Total Contribution: $________________________

Please choose one:

A donation of $2,000 or more funds a scholarship in the name of an individual or business. Name this contribution in honor of ___________________________________________________________________________________________ I pledge $2,000 to be paid over the next four years with a $500 minimum each year (once my pledge is paid in full, a scholarship will be awarded in my name)

www.orcpa.org/educational_foundation/ 7

Payment Method Please choose one:

Individual contribution

Business contribution

Total Contribution Amount: $_________________________________

Check one:

Check payable to The OSCPA Educational Foundation Visa

MasterCard

American Express

Discover

Cardholder Name________________________________________________________________________________________ Credit Card #____________________________________________________

Expiration Date _______________________

Cardholder Signature _____________________________________________________________________________________ If donating by credit card, you may also fax your donation to 503-626-2942, call 503-641-7200 / 1-800-255-1470 or contribute online at www.orcpa.org/educational_foundation/. Payments can be mailed to The OSCPA Educational Foundation, PO Box 4555, Beaverton, OR 97076-4555. I would like more information on planned giving options I would like more information about establishing a $50,000 (minimum) endowment

Helping New Professionals Grow The Foundation’s mission is to support the profession’s future, and we thank those of you who helped out this past year, those who have helped in the past, and those who plan to help this year and in the future for being the “stump” upon which accounting students and new professionals can grow. Please feel free to contact the Foundation at any time. Thank you!

The OSCPA Educational Foundation — in affiliation with the Oregon Society of CPAs

8

PO Box 4555 Beaverton, OR 97076-4555 503-641-7200 / 1-800-255-1470 [email protected] www.orcpa.org

OSCPA Educational Foundation Report 2009-10