Acts of generosity often start small, but they have a lasting impact. Calvin Lee, CPA, CA and Megan Yarema, associate director, charitable initiatives at CPABC discuss how the Pay it Forward campaign makes a difference for future CPAs.
What if the most meaningful investment you make this year is in someone’s future? Acts of generosity often start small, but they have a lasting impact. That’s the spirit behind Pay it Forward, a fundraising campaign supporting the CPA Education Foundation (CPAEF), CPABC’s charitable arm dedicated to helping accounting students in BC. Since 2015, the CPAEF has awarded over $1 million in student funding and the number of requests from students in financial need continues to rise.
The inspiration for this campaign comes from CPA Calvin Lee, who reached out in 2024 with a donation and a message: He received a bursary during his CPA studies and was now “ready to pay it forward.” I recently chatted with Calvin (who is currently working in Japan) about how he makes a difference and how others can too.
As a student, you applied for a bursary. What motivated you to apply?
“When I was completing my accounting education, I applied for the bursary to help complete my MBA because it’s very expensive. I did my degree at the Schulich School of Business at York University – back in 2013 it cost $60,000 and it’s risen to about $75,000 now. Even though I had worked for a number of years and had savings, I still needed support from other sources. So I applied to my legacy body’s education foundation for a scholarship or bursary, and they gave me a generous bursary that helped me on my journey.”
How did receiving the bursary change things for you?
“It eased my mind to focus on what I needed to do. Especially today, with the rising cost of living and economic uncertainty, it’s difficult for people to balance work, life, and finances, so being able to receive any kind of financial support is helpful. In my case, I was extremely grateful for it.”
What’s your personal take on giving?
“I grew up in church, so I’m used to the idea of giving a tithe, or a percentage of my earnings, to the church. Both of my parents also give to different charities and to the community at large and I’ve continued that practice. Every year, I see how I can allocate my funds to different places. Since I received financial support at one time, I am very happy now to be on the other side and to be able to donate to different charities.”
Did you have any mentors who shaped your views on giving back?
“My parents were my biggest mentors and I also had mentors through work. One was a previous boss at an accounting firm; he donated to different charities and volunteered on not-for-profit boards. Once in a while, we would have coffee and he would discuss how to give back to the community. He brought up that as CPAs, we’re very fortunate. We have education, resources, and training. We are looking for a way to put that to good use, not just for ourselves, but for the community at large.”
What do you think about the power of CPAs supporting future CPAs?
“As a CPA, I understand what students are going through. Completing your education is a really long process and it’s difficult at times, both financially and mentally. Having people to support you is very important, whether that’s family, friends, or coworkers. Now that I’ve finished that journey, I can give back to other students. After I became a CPA, I volunteered as a CPA mentor and was a facilitator for several modules of the CPA program.
There are approximately 40,000 CPAs in BC and if everybody gave just a little bit, it would make a huge difference. When it comes to donating, the amount I give might not seem like a lot to me, but to somebody else it could be a lifeline.”
“The bursary takes away a big part of stress. It helps cover childcare costs and gives me peace of mind to focus on my CPA studies without constantly worrying about finances. I’m so thankful for this support. It truly makes a difference for me and my son and gives me the confidence to keep moving forward. It’s not just financial help. It’s a lifeline that allows us to keep chasing our goals even when life feels heavy.”
- CPAEF bursary recipient
Like you say, our needs and our ability to give back are different depending on our stage of life and career. So along with support for new students, the CPAEF also has programs to help CPAs pursue higher education like a PhD. The foundation is there to support you on your journey from start to finish.
“Knowing that the CPAEF has resources to support members who are interested in getting higher degrees is good motivation for members who want to go back to school later in their career. Especially nowadays, it’s important to keep educating yourself because it’s so competitive. So those resources can help members to achieve their goals and dreams.”
Any last thoughts on the Pay it Forward campaign?
“If you’re considering giving back for the first time, just start with a small amount. Maybe put it in your monthly budget. Let’s all do just a little bit in our power. Let’s try to make a small difference in this world and bring a smile to somebody’s face.”
Inspired to support a future CPA? Check out the Pay it Forward campaign and watch CPABC’s social media channels and your email for details.
Megan Yarema is the associate director, charitable initiatives with CPABC.
