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Steininger, Frank C. and Karen S. Excellence in Accounting Endowed Award

The Frank C. and Karen S. Steininger Excellence in Accounting Endowed Award was established in 2016, and revised in 2019, by generous benefactors Frank C. and Karen S. Steininger.  Frank earned a Bachelor of Science in accounting from ÐãÉ«¶ÌÊÓƵ in 1981, and Karen earned a Bachelor of Business Administration from ÐãÉ«¶ÌÊÓƵ in marketing in 1982. Today, Frank serves as executive senior vice president, chief financial officer, and treasurer of Houston-based CIVEO, a global leader in workforce accommodations for employees of oil and gas companies.  The couple, grateful for their University of Akron education, established the award to ensure that future promising students have opportunities to receive outstanding accounting educations from ÐãÉ«¶ÌÊÓƵ and fulfill their career goals.

The Frank C. and Karen S. Steininger Excellence in Accounting Endowed Award is intended to attract, recruit, retain and graduate outstanding students in the George W. Daverio School of Accountancy who intend to complete all requirements to become Certified Public Accountants in the state of Ohio.

The students supported by The Frank C. and Karen S. Steininger Excellence in Accounting Endowed Award shall be referred to as Steininger Scholars in all correspondence on matters related to the award.  Ideally, the Steininger Scholars will be incoming, full-time freshmen who receive the award for a maximum of five years, i.e., the initial year and up to four renewals, provided funds exist and Steininger Scholars continue to meet the criteria.

It is anticipated that the award account will be funded with $16,000 annually for selected Steininger Scholars, who may use the award for any of the following*:

1. Tuition and fees
2. Student housing – as long as the recipient resides in on-campus housing
3. Textbooks and supplies – Examples of supplies include required class software and/or subscriptions
4. On-campus employment, provided the Steininger Scholars work with a faculty mentor in the George W. Daverio School of Accountancy
5. CPA exam review and expenses related to sitting for and passing the CPA exam within three months after graduation
6. Other purposes that benefit the Steininger Scholars as determined by the Chair of the George W. Daverio School of Accountancy

(*Note: some of these award scenarios may become a taxable event for the recipient)

To be eligible for The Frank C. and Karen S. Steininger Excellence in Accounting Endowed Award, recipients must be enrolled full-time as an accounting or tax student, or be an incoming full-time freshman planning to major in accounting or tax.  There will be two recipients named each year. One will be merit-based, the other need-based.

The merit-based recipient must have a minimum GPA of 3.0, an excellent record of conduct, and evidence of engagement in extracurricular activities and/or student organizations (balanced by employment requirements).  Other consideration factors will include the student’s academic background, high school, interest in becoming a professional accountant, skills and career objectives and financial need.  First consideration will be given to students from an underrepresented minority.  The award is renewable up to four times as long as the merit-based Steininger Scholar maintains the above requirements of the award.

The need-based recipient will be selected based on financial need.  The Accounting Scholarship Committee will help identify candidates who qualify to receive an award based on this criteria. While this recipient must meet the requirement of being in financial need, secondary criteria such as that of the merit-based recipient, may be considered.  The award is renewable up to four times as long as the need-based Steininger Scholar maintains the above requirements, as well as a cumulative GPA of 2.5 or higher.

Steininger Scholars selection will ultimately be made by the Chair of the George W. Daverio School of Accountancy, who will review the progress of the Steininger Scholars each year to assess their academic progress before renewing the award.

Since the award is renewable up to four times, recipients who, in their 5^th year of study, are classified as a graduate student and/or are taking graduate level courses, are still eligible for renewal, as long as they continue to meet the other stated criteria.

The first Steininger Scholar was selected prior to the fall 2016 semester.  New Steininger Scholars will be selected upon graduation of the previous recipients, or if recipients are no longer eligible for the award.