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than other U.S. population groups, according to
ALPFA milestones
U.S. Census data. The number of Latinos earning
college degrees between 2010 and 2019 increased
2.8 times faster than among non-Latinos. In its 50 years, the organization that started with 19 members celebrated
And the gains in educational attainment and several historic milestones. Here are some of them:
personal income, as well as a strong participation in 1972 The American Association of Spanish Speaking Certified Public
the labor force, have allowed Latinos to spend more. Accountants (AASSCPA) is established in Los Angeles.
Their real consumption growth was more than
1972 First official AASSCPA meeting at the Ambassador Hotel in
double the U.S. consumption growth between 2010
Washington with an attendance of six. Gilbert Vasquez is
and 2019. But challenges remain. While Latinos are
appointed the first president, a position he held for five years.
represented in all occupations and industries, they
1973 First AASSCPA convention is held in Las Vegas. Wallace “Wally”
are underrepresented in management and profes-
Olsen, then president of the AICPA, was the keynote speaker.
sional jobs in general and business and financial
occupations in specific, U.S. Census data suggests. 1974–1975 Frances Garcia, CPA, becomes the first woman associate
member. She would go on to become the AASSCPA’s first
BOOSTING THE NEXT GENERATION woman president and be named inspector general of the U.S.
Recruitment and mentorship are crucial to raise Government Accountability Office. She was voted an honorary
Latino representation in accounting and finance member in 2017.
jobs as retiring Baby Boomers are increasingly 1977 Gilbert Vasquez was honored and recognized as founder at the
replaced by Millennials and Generation Z, two convention in New Orleans.
generations with large numbers of Latinos. Accord-
1978–1980 Organization is renamed American Association of Hispanic
ing to the Pew Research Center, 6 in 10 Latinos are
Certified Public Accountants (AAHCPA).
Millennials or younger, compared to 5 in 10 Black
2001 The organization changes its name to the Association of Latino
Americans, about 5 in 10 Asian Americans, and 4
Professionals in Finance and Accounting (ALPFA) to expand
in 10 white Americans.
membership to finance professionals.
A majority of the jobs coming available, not just
in business and finance, are considered “knowledge 2009 ALPFA merges with the National Hispanic Business Association
work,” meaning they require extensive theoreti- to create an organization of more than 14,000 members.
cal education and experience to be carried out 2010 The organization changes its name to ALPFA Inc.
successfully. Latinos are in an excellent position
2022 The organization has more than 95,000 members with
to pursue more knowledge work because of their
professional chapters in 37 locations and student chapters at
growing percentage of the population and the
about 100 universities and colleges.
labor force. However, the National Center for
Education Statistics reported that although the
gap in high school completion rates between the
white and Latino population has narrowed, high ALPFA and other, similar organizations are
school graduation rates for Latino students still committed to improving these statistics. ALPFA
lagged behind white and Asian students for the student membership includes access to scholarship
2018–2019 school year. opportunities, skills development workshops, net-
The high school graduation gap is compounded working with key hiring professionals and sponsors,
by rising college tuition costs, which require many and discounts on various ALPFA events. Other
Latino students to take on ever-increasing amounts advantages are the Career Fairs and Expos sponsored
of debt, and by culture shock when they make it by ALPFA as well as virtual student symposiums.
to a four-year institution, because of the lack of ALPFA also works to address challenges Latino
Latino professors. A 2020 study by the not-for- professionals face. Professional ALPFA chapters in
profit Excelencia in Education found that Latino 37 locations across the United States make access to
students’ graduation rates from two-year and four- role models and mentors among Latino accountants
year institutions lagged behind white students: 33% and finance professionals easier. ALPFA also offers
of Latino students graduate from a two-year higher professional development and career-building
education institution compared with 35% of white opportunities such as continuing professional
students; and 51% of Latino students graduate education courses, local chapter networking events,
from a four-year institution compared with 63% of receptions, and career fairs that aid in the retention
white students. of Latinos. ■

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