Ernst & Young Accounting Scholarship

Alumni have more clout than they realize, especially when it comes to making possibilities become realities. That’s what happened with the creation of the Ernst & Young Accounting Scholarship.

When staff at CLU first contacted Ernst & Ernst in 1978 about the possibility of establishing a scholarship, the reply was negative. But then Shawn Howie ‘78 went to work for the firm now known as Ernst & Whinney. Shawn had majored in accounting at CLU, and he devised a way to fund a scholarship on an annual basis by utilizing the company’s matching gifts program for gifts to CLU. In doing so, he enlisted the partnership of Walter Beran, vice chairman at E&W and a CLC regent. The intent of the scholarship was to encourage outstanding CLC accounting majors who might have the potential for careers with one of the “Big Eight” national accounting firms. That was in 1981.

Shawn funded the scholarship in this manner until 1984, when he inquired about the process for endowing the scholarship while he continued to make awards. The scholarship had been very effective in recruiting exemplary employees for E&W. Shawn frequently emphasized to CLU alumni who were hired by E&W the importance of giving back to their alma mater. In 1985 the fund reached its goal of $5,000, the amount then required for endowment. Fourteen CLC alums were working for E&W at that time. Once the scholarship reached the endowment level, the focus shifted to maintaining four awards per year while building the endowment fund through gifts and matching gifts.

In 1986 Walter Beran, who had progressed to senior partner, announced his retirement from what was now known as Ernst & Young. Retirement gifts made in his honor were designated to a new scholarship, and Walter was given the privilege of selecting the recipient institution. He chose Cal Lutheran, and the history of that marvelous scholarship is to be found under Ernst & Young Scholarship in Honor of Walter F. and Sharon A. Beran.

The E&W endowment continued to grow after 1986 through investment and occasional gifts. Recipients of the Ernst & Young Endowed Accounting Scholarship are to be upper-division accounting majors who maintain a minimum of a 3.5 grade point average. These demanding criteria ensure that only quality students are selected, meeting the expectations of Ernst & Young.