Redwood City, Calif. (June 1, 2004) -- The California Society of CPAs has formed a nonprofit foundation to promote financial literacy education for all Californians.

“CalCPA Institute will allow CalCPA to seek and receive financial support for our financial literacy initiative and future initiatives,” said Susan Waters, CalCPA chief executive, who will also serve as CEO of the institute. The financial literacy initiative was launched last year by CalCPA chair Steve Wimmers.

The California CPA Education Foundation, which provides continuing professional education programs for CPAs, has committed to a $25,000 contribution to the institute.

In addition to the institute, CalCPA has created a Financial Literacy Committee that is developing programs and materials to help Californians improve their financial knowledge. In cooperation with elected officials, the committee has launched a Dollars & Sense workshop to provide financial information in town hall-style forums. The committee is collaborating with the California Jump$tart Coalition and Junior Achievement in providing financial literacy programs for schoolchildren.

-- WebCPA staff

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