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Aspiring Black CPA Scholarship Announced; Applicants Sought

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Date(s) - 03/08/2022 - 05/01/2022
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The national initiative to award scholarships worth up to $5,000 each will provide immediate financial support to Black accounting students and professionals.

CHICAGO, March 7, 2022 – In 1921, 25 years after the first certified public accountant (CPA) certificate was granted in the United States, John W. Cromwell Jr. became the first Black CPA. He opened a door through which thousands of Black accountants would eventually pass. Today, that door is being opened wider with the announcement of the Aspiring Black CPA Scholarship—a one-time national scholarship initiative established to provide immediate financial support for Black and African American accounting students and professionals pursuing the CPA credential.

The Aspiring Black CPA Scholarship is supported by the Black CPA Centennial Fund, which raised nearly $84,000 as part of the 2021 Black CPA Centennial, a yearlong celebration honoring the 100th anniversary of Cromwell’s landmark achievement.

“Our intent is to help pave the way for more Black individuals to pursue the CPA credential and succeed in a more diverse and inclusive CPA profession,” says Todd Shapiro, president and CEO of the Illinois CPA Society, speaking on behalf of the Black CPA Centennial’s organizing partners. “To do that, we must help these deserving students and professionals by meeting them where they are. We’re empowered to support as many individuals as possible by providing unique and meaningful financial assistance to each recipient as they strive to overcome various financial barriers during their pursuit of the coveted CPA credential.”

The scholarships may provide financial support for expenses related to preparing for or taking the CPA exam, including college tuition toward CPA eligibility, related classroom materials, CPA exam preparation courses, CPA exam application fees, tutors, and more. To be eligible for an Aspiring Black CPA Scholarship, an individual must identify as Black or African American; be a senior, graduate student, or professional pursuing the CPA license; intend to sit for the CPA exam within one year of applying for this scholarship; have not already completed all four sections of the CPA exam; demonstrate a commitment to the accounting/CPA profession; and demonstrate immediate financial need related to becoming a CPA.

All eligible individuals are encouraged to apply at by the May 1, 2022, deadline.

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