Houston Community News >> Houston CPA Society Raises Over 292,000 Dollars for Scholarships

5/29/2007 Houston-- The Houston CPA Society, a chapter of the Texas Society of Certified Public Accountants, raised $292,475 for accounting student scholarships and CPAs Helping Schools at its 21st annual Charity Extravaganza at the Junior League, 1811 Briar Oaks Lane in River Oaks.

After expenses, the event netted $231,000, making this the most successful charity event the Society has sponsored. Of this, $179,000 will be given to 54 students majoring in accounting at eight local universities. The other $52,000 will go to CPAs Helping Schools which provides grants and a variety of initiatives to K-12 schools, scholarships for students regardless of major, and a variety of teacher, staff and school volunteer recognition programs.

Event chair Wiley Carmichael, West University Place, and his co-chair, Don Clanton, northwest Houston, both of whom are graduates of Texas Tech, and a committee of 35 volunteers organized the event to honor Reed and Janet Wood of Kingwood, the honorary co-chairs. About 420 CPAs and their guests attended the sellout casino night. Previous charity events have raised more than $2 million cumulatively for charitable causes. The event began in January 1987.

The Scholarship Committee and contributing sponsors have been presenting Accounting Scholarships at university awards ceremonies to accounting students with financial need, ethics, citizenship and high scholastic achievement, explained Carmichael. The eight schools are Houston Baptist University, University of Houston Central Campus, University of Houston Clear Lake, University of Houston Downtown, Prairie View A & M, St. Thomas University, Sam Houston State University and Texas Southern University.

We want to attract the best and the brightest into the accounting profession, and we do not want financial need to hinder a bright student from entering the accounting profession, Carmichael said.

The Society selected Reed and Janet Wood as our honorees because of the example they have set for the profession, Carmichael said. Reed joined Arthur Andersen following graduation from the University of Texas and was an audit partner for 23 of his 32-year career. For the past four years, Reed has been a partner at Grant Thornton. His civic, social and professional activities have included the board of directors of the Houston Livestock Show and Rodeo and vice chairman of its premier Steer Auction Committee; chairman of the board of directors of Theater Under the Stars; chairman of the Houston Division of the American Heart Association; chairman of the board of directors of Boys and Girls Country of Houston; director of the Touchdown Club; deacon of First Presbyterian Church of Kingwood; president of the Houston CPA Society; vice president of the Texas Society of CPAs and recipient of its Distinguished Public Service award.

Janet Wood also graduated from the University of Texas and had a short career in fashion design before becoming a mother of four. She now divides her time among three grandchildren and several church and community organizations benefiting women and youth in the Kingwood area.

The Houston CPA Society is the largest chapter of the Texas Society of CPAs and the third largest CPA Chapter in the United States with more than 8,000 CPA members in Houston and 13 surrounding counties. In addition to providing continuing professional education to its members, the 78-year-old Houston CPA Society has donated millions of dollars to charities through its charity events and golf tournaments. The Society delivers toys and books to 6,600 children each year through Santa CPAs and supports education with scholarships for students, grants for schools and a variety of recognition programs and contests. Each spring, the Houston CPAs provide free tax help to disadvantaged citizens, including those with low income, physical impairments, non-English-speaking ability or elderly status. They provide ongoing help to other nonprofit organizations by lending skills to charity auctions and providing accounting advice to other nonprofit organizations. For more information about the Houston CPA Society, log on to the web site at www.HoustonCPA.org