News
Thomson Donates CPA2BIZ Holdings E-mail
Written by The Progressive Accountant   
Tuesday, 15 September 2009 15:44

Deli.cio.us    Digg    reddit    Facebook    StumbleUpon    Newsvine

Thomson Reuters logoNEW YORK - The Tax & Accounting business of Thomson Reuters has donated its entire holdings in CPA2Biz, the for-profit subsidiary of the American Institute of CPAs, to the AICPA Foundation. Thomson Reuters said it had owned 8.71 percent of CPA2Biz following its 2001 investment. At the time, Thomson was one of three companies that invested $25 million each in the effort.

The other initial investors were Aon and Microsoft. However, the outside investment into CPA2Biz never approached the millions that the AICPA initially predicted. In 2002, Barry Melancon, the AICPA's CEO, donated his stock in CPA2Biz, which stemmed from a $100,000 investment, to the foundation.

The AICPA Foundation funds five minority education programs and also funds four other accounting-education programs and two public financial-education guides. It is spearheading the Accounting Doctoral Scholarship program, a $17 million multi-year campaign to fund PhD educational opportunities.

 


The Progressive Accountant
About the author:


< Prev   Next >
 

Add your comment

Your name:
Subject:
Comment:
  The word for verification. Lowercase letters only with no spaces.
Word verification:
yvComment v.1.22.0