COAP’s Coffers

COAP’s Coffers
Financing an Important Accounting Recruitment Effort

COAP, the NYSSCPA’s Career Opportunities in the Accounting Profession program, is a special college campus–based initiative that offers minority youth the chance to learn about the advantages of accounting as a profession. In the last three years, the Society has significantly increased its focus on this program, expanding beyond its beginnings at Pace University and Hofstra University to offer a total of eight programs across the state. In addition to Pace and Hofstra, these other schools include Brockport State, Dutchess County Community College, Long Island University, Le Moyne College, Sienna College and the Westchester Community College.

The eight programs either are commuter-based, where students attend during the day and return each morning, or residential, with students staying the whole week of the COAP session at college dormitories. Each program attempts to attract up to 50 students, but registration can vary greatly from school to school.

Contributions from the NYSSCPA membership generally fund the program. Financing for the program is facilitated through three major member-related sources: the dues checkoff found on every dues invoice, a journal published for and distributed at the Society’s Annual Election Meeting and Dinner, and the general Society revenue.

More than 85 percent of the revenues generated by the dues checkoff come from metropolitan New York City members, which represent about 65 percent of the overall NYSSCPA membership. Metropolitan New York City chapters are defined as all chapters south of the Mid-Hudson Chapter. This concentration of COAP financing probably reflects the fact that the program got its start in New York City at Pace and on Long Island at Hofstra. It is hoped that as the upstate COAP programs continue to flourish, additional funding from these areas will be forthcoming.

Revenues from last year’s annual dinner journal amounted to almost $90,000 and primarily came from metropolitan New York CPA firms.

Monies collected for COAP pay for all aspects of the program, including promotional materials and mailings. Attendees do not pay any registration fees. Therefore, the Society pays for student transportation to the programs (for commuter-based programs); transportation expenses incurred during the program, such as the cost of field trips; all meals, including a final graduation dinner to which parents are invited at no cost; and all materials related to the program. Overnight programs employ student interns who act as resident assistants; these students receive a stipend. The programs also usually provide the students with incidentals such as T-shirts and calculators.

The metropolitan New York City COAP programs consume 80 percent of statewide expenditures. A large majority of students, 122 of the 169 students enrolled in last year’s COAP program, attended metropolitan New York City programs. Three of the four area programs are residential and are more expensive to run due to the costs of housing.

The Society is committed to expanding COAP to all regions of the state and making each existing program a vital component of the recruitment initiative. Donations to fund COAP can be made at any time. The program is operated by the Foundation for Accounting Education (FAE), a 501 C 3 corporation. Checks can be sent to FAE, P.O. Box 34782, Newark, NJ, 07189-4782. Be sure to indicate that the donation is for COAP.