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MSCPA Educational Foundation Scholarship Program

Designed to recognize and encourage today's students who become tomorrow's accountants, the Foundation promotes new accountancy programs in higher education, and strengthens the links between business and academia. Contributions fund educational scholarships and provide financial assistance to CPA Exam candidates who have limited access to support. In addition, donations help to underwrite the cost of summer programs that introduce minority high school students to the accounting profession.

Apply Online

Scholarships are administered by the Educational Foundation of the Massachusetts Society of Certified Public Accountants, Inc. (MSCPA) and are available for both undergrad and grad accounting students who are attending a college or university in Massachusetts or attending a college or university out-of-state with a permanent address in Massachusetts.

You must be a U.S. citizen or permanent resident enrolling in at least 9 credits during the summer 2020 semester or fall 2020 semester. Scholarship funds are issued directly to the students and can be used for tuition, books, interviewing expenses, etc. The online application consists of:

  • The application form.
  • A recommendation from an accounting professor, academic advisor or job supervisor.
  • Unofficial transcript(s) of all educational courses.
  • An essay of 300 words or less in which you describe an experience from your own life and explain its effect on you.

Deadline for receipt of scholarship application and supporting documents – February 3, 2020. Applicants will be considered for all awards that they are eligible for based on their application. Awards range from $2,500 scholarships to $10,000 scholarships.

David J. Clarkson, CPA, Memorial Scholarship ($10,000)

In honor and remembrance of Dave Clarkson’s passion, dedication and impact on the accounting profession through his service in public accounting, academia and volunteerism, the MSCPA Educational Foundation is proud to dedicate a $10,000 scholarship annually in his memory. Dave was a former MSCPA board member and a longtime board member of the Education Foundation. The David J. Clarkson, CPA, Memorial Scholarship will be awarded to a deserving student who has demonstrated academic excellence and financial need in the pursuit of a career in public accounting in Massachusetts.

Initial applicants for scholarship must be:

  • A resident of Massachusetts;
  • A graduate of a duly accredited senior secondary school; and
  • Accepted to, or already enrolled in, an accredited community college, college or university, having a course of study leading to a degree of Bachelor of Accounting/ Accountancy. Graduates must show a course of study that satisfies the completion of the 150-hour requirement pursuant to 252 CMR 2: Requirements for certification under the Massachusetts Rules and Regulations Governing Public Accountants and Firms.

Applicants for renewal must:

  • Maintain a 3.5 grade point average in all subjects required for attainment of his/her degree program, and a 3.2 grade point average overall;
  • Maintain a positive and proactive relationship with a mentor anchored in the accounting profession; and
  • Have a proven dedication to pursuing the accounting profession through internships, volunteer work or other extracurricular activities.

Kathleen M. Peabody, CPA, Memorial Scholarship ($2,500)

The Kathleen M. Peabody Memorial Scholarship Fund is sponsored by the employees of Wolf and Company to remember Kathy, a former employee who was tragically killed in an automobile accident in 1995. Her commitment to technical expertise and client service, coupled with her easy-going, sincere manner made Kathy a true professional in every sense of the word. This scholarship was established to reward promising students who reflect Kathy’s values and aspire to become truly exceptional public accounting professionals.

Sponsored by Wolf & Company PC, this scholarship is to encourage individuals who have demonstrated academic excellence and financial need to pursue a career in public accounting in Massachusetts.

To qualify, a student must meet most of the following criteria:

  • Be a full-time undergraduate accounting major who will be entering their junior or senior year;
  • Sustain a superior academic standing;
  • Financial need; and
  • Have the intention to seek a career in a public accounting firm.

Gregory T. O’Gorman, CPA, Memorial Scholarship ($5,000)

Greg T. O'Gorman, CPA was a Partner at CRR CPA and had been with the firm for almost a decade. He was a leader, a mentor, and a friend to everyone at the firm. He is greatly missed by all of his colleagues and the many clients he has worked closely with over the years. CRR is pleased to have created a memorial scholarship fund in memory of their friend and colleague who lot a courageous battle with cancer in November of 2018.

The Gregory T. O’Gorman, CPA, Memorial Scholarship is given by CRR CPA to a deserving student who has demonstrated academic excellence and financial need in the pursuit of a career in public accounting in Massachusetts.

To qualify, a student must meet most of the following criteria:

  • A full-time undergraduate accounting major who will be entering their junior or senior year;
  • Maintain a 3.2 GPA;
  • Demonstrate academic excellence and financial need;
  • Have the intention to seek a career in a public accounting firm.

MSCPA Diversity & Inclusion Scholarship

Purpose: To encourage Black and African American students who have demonstrated academic excellence and financial need to pursue a career in accounting in Massachusetts.

This award is designated for students who meet the following criteria:

  • A Black or African American graduate student, or a Black or African American undergraduate student who has completed at least the first semester of his/her sophomore year by the time of application;
  • Demonstration of academic excellence;
  • Demonstration of financial need; and
  • Intention to pursue a career in accounting in Massachusetts.

President's Scholarship ($5,000)

Sponsored by the MSCPA's President and CEO Amy Pitter, this scholarship is to encourage individuals who have demonstrated academic excellence and financial need to pursue a career in the accounting profession in Massachusetts.

To qualify, a student must meet the following criteria:

  • Be a graduate student, or undergraduate accounting student who has completed at least the first semester of their sophomore year;
  • Sustain a superior academic standing;
  • Financial need;
  • Be willing to complete four hours of accounting-related community service; and
  • Have the intention to seek a career as a CPA in Massachusetts.

The Alliance Scholarships ($2,500/$5,000)

Scholarships are made possible through the generosity of public accounting firms and private companies throughout the Commonwealth.

Applicants must meet the following criteria:

  • Be a graduate student, or an undergraduate student who has completed at least the first semester of his/her sophomore year;
  • Demonstration of academic excellence;
  • Financial need; and
  • Have the intention to pursue an accounting career in Massachusetts.

Barbara M. Iannoni Scholarship ($5,000)

Barbara M. Iannoni was a 20-year employee of the MSCPA before her retirement in June 2018. It was Barbara’s passion and work ethic that led to the creation of the MSCPA’s many high school and college outreach programs, and her devotion to helping support students pursue their own passion that led to the development of the MSCPA Educational Foundation’s Scholarship Program. Under Barbara’s leadership, the Foundation raised and awarded over $1,000,000 in scholarships to Massachusetts accounting students.

This scholarship is awarded to a student that embodies Barbara Iannoni’s work ethic, spirit and dedication to the accounting profession.

Applicants must meet the following criteria:

  • Be an undergraduate or graduate student who has completed at least the first semester of his/her sophomore year;
  • Demonstration of academic excellence;
  • Financial need; and
  • Have the intention to pursue an accounting career in Massachusetts.

Women in Accounting Scholarship ($2,500)

The purpose of these scholarships is to encourage women who have demonstrated academic excellence and financial need to pursue an accounting career in Massachusetts.

The Women in Accounting Scholarships are funded by the MSCPA's Women Golf Committee.

This award is designated for students who meet the following criteria:

  • Be a graduate student, or an undergraduate student who has completed at least the first semester of her sophomore year;
  • Demonstration of academic excellence;
  • Financial need; and
  • Have the intention to pursue an accounting career in Massachusetts.

MSCPA/ALPFA Scholarship 

Purpose: To encourage Hispanic and Latino students who have demonstrated academic excellence and financial need to pursue a career in accounting in Massachusetts.

The award program is administered by the Educational Foundation of the Massachusetts Society of Certified Public Accountants, Inc. and made possible by the generosity of the ALPFA and the Educational Foundation of the Massachusetts Society of Certified Public Accountants (MSCPA).

This award is designated for students who meet the following criteria:

  • An Hispanic or Latino graduate student, or a Hispanic or Latino undergraduate student who has completed at least the first semester of his/her sophomore year by the time of application;
  • Demonstration of academic excellence;
  • Demonstration of financial need;
  • Intention to pursue a career in accounting in Massachusetts; and
  • Student Membership in ALPFA Boston.

High School Student Scholarship

Diversity & Inclusion Scholarship

The Diversity & Inclusion scholarship is earmarked for a student of an underrepresented race that has graduated from an MSCPA summer CA.M.P,/ACAP program.

In order to qualify, a student must meet the following criteria:

  • Be a Massachusetts resident;
  • Be a rising college freshman or rising college sophomore;
  • Have a minimum GPA or QPA of 3.0;
  • Have been accepted to a college or university; and
  • Have the intention to study accounting at the college level.
The deadline to apply is March 13, 2020.

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CPA Exam Lottery

Exam Lottery

In an effort to increase the number of test takers and defray Exam costs, the Society will hold a lottery to award vouchers in the amount of $500 to candidates planning to sit for the Exam as a Massachusetts candidate between May 1, 2020 and April 30, 2021. To be eligible, the individual must be a current student or have graduated within the last three years. They must also be a Massachusetts resident who will not receive financial assistance from his or her employer in the form of payments/reimbursements of Exam fees or review courses, or a bonus upon passing.

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Awards

Outstanding Accounting Educator Award

Would you like to pay tribute to a professor or colleague for their excellence in the classroom? 

The MSCPA’s Outstanding Accounting Educator Award was designed to recognize full-time accounting faculty who are actively involved in the accounting profession.

The recipient will receive an award of $1,000 to further his/her professional development and a matching gift will be given to the college’s accounting department in their honor. 

Nomination Form

Other Scholarships

National Association of Black Accountants

Ethnic minority students who are undergraduate accounting or business majors are eligible for three different types of scholarships.

Visit their website for more information »

Hispanic Scholarship Fund

Scholarships are available for graduating high school seniors as well as college students.

Visit their website for more information »

Hispanic Association of Colleges & Universities Program

To be eligible to apply for one of HACU’s scholarships, students must be attending a HACU Member or Partner college or university (visit their website for a complete listing) and meet all additional criteria for the program to which they are applying.

HACU uses one scholarship application for the several different programs it administers. Program criteria will vary based on the requirements of the funding organization, e.g., specific major, level of study, college/university, region of the country, etc. Scholarship amounts also vary depending on the program, usually ranging from $500 - $2,000 per year.

Visit the HACU's Website »

American Institute of CPAs

The American Institute of Certified Public Accountants (AICPA) offers many scholarship opportunities for accounting students at varying points in their academic careers.

Quick Links


Scholarship Winners

CPA Exam Lottery

In an effort to increase the number of test takers and defray Exam costs, the Society will hold a lottery to award vouchers in the amount of $500 to candidates planning to sit for the Exam as a Massachusetts candidate between May 1, 2020 and April 30, 2021. To be eligible, the individual must be a current student or have graduated within the last three years. They must also be a Massachusetts resident who will not receive financial assistance from his or her employer in the form of payments/reimbursements of Exam fees or review courses, or a bonus upon passing.

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About the Foundation

MSCPA's Educational Foundation, a 501(c)(3) organization, provides an opportunity to make a tax deductible contribution to a program that helps to ensure the future of the profession.

To learn more about the Foundation, or the Society's student recruitment efforts, contact Erica DeBiase at 617.303.2403.