KPMG Foundation Marks 15th Year of Minority Accounting Doctoral Scholarship Program With Awards of $390,000 to Scholars

The KPMG Foundation is marking the 15th anniversary of its Minority Accounting Doctoral Scholarship program by announcing today it has awarded a total of $390,000 in scholarships to 39 minority doctoral scholars for the 2009 – 2010 academic year. Of the awards, eight are to new recipients scheduled to begin their accounting doctoral program this fall, three are to new recipients who have already begun programs, and 28 are renewals of scholarships previously awarded.

Each of the scholarships is valued at $10,000 and renewable annually for a total of five years. The Foundation established the scholarship program in 1994 as part of its ongoing efforts to increase the number of minority students and professors in business schools — and has since awarded $8.7 million to minorities pursuing doctorate degrees.

“We’re proud of the achievements of our program over the last 15 years, and we have seen a healthy increase in the number of minority faculty members at our nation’s business schools, although more work needs to be done,” said Bernard J. Milano, President of the KPMG Foundation and The PhD Project. “That’s why we continue to award new scholarships each year and we remain committed to our mission.”

Together with The PhD Project, a related program whose mission is to increase the diversity of business school faculty, the Minority Accounting Doctoral Scholarship program has helped to more than triple the number of minority business professors in the United States since The PhD Project first began in 1994. Today, there are 985 minority business school professors teaching in the United States. Nearly 400 minority students are currently enrolled in business doctoral programs.

The Minority Accounting Doctoral Scholarship recipients come from a wide variety of cultures and backgrounds. This year’s new recipients are:

* Elio Alfonso, Louisiana State University
* Dereck Barr, University of Mississippi
* Cathalene Bowler, Morgan State University
* Elicia Cowins, University of North Carolina Chapel Hill
* Paige Gee, Temple University
* Aisha Meeks, Jackson State University
* Wayne Nelms, Morgan State University
* Genese Rogers, Morgan State University
* Menghistu Sallehu, Drexel University
* John Williams, University of North Texas
* Reginald Wilson, Jackson State University

“We congratulate these scholars on their achievements,” said Manny Fernandez, national managing partner of university relations and recruiting at KPMG LLP. “We’re pleased to see that many of these scholars who become business school professors also become mentors to younger generations of minority students and inspire them to pursue careers in business.”

KPMG Foundation Accounting Minority Doctoral Scholarship program

The KPMG Foundation Accounting Minority Doctoral Scholarship program aims to further increase the completion rate among African-American, Hispanic-American and Native American doctoral students in accounting, and is part of a larger commitment by the KPMG Foundation to increase minority representation not only in accounting programs at colleges and universities, but in the American work force. The program complements The PhD Project, a separate 501(c) (3) organization that the KPMG Foundation founded in 1994, and which recruits minority professionals from business into doctoral programs in all business disciplines. The PhD Project attacks the root cause of minority under-representation in corporate jobs: historically, very few minority college students study business as an entree to a corporate career. Diversifying the faculty attracts more minorities to study business and better prepares all students to function in a diverse workforce.

KPMG Foundation

The KPMG Foundation is a 501(c)(3) private foundation. The Foundation operates on donations from KPMG LLP, the U.S. audit, tax and advisory firm. For fiscal year 2009, KPMG donated $6 million to the Foundation. Through the KPMG Foundation, the firm has spent over 40 years supporting and developing programs to enhance business education”

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