The new Foley Family Master of Accountancy (MAcc) Scholarship Endowment in addition to the Brian and Heather Foley Accounting Excellence Endowment, will have a specific emphasis on attracting students from Historically Black Colleges and Universities and Hispanic-Serving Institutions, to enroll in the MAcc program at UT.
Even though life as an accounting professional has taken Brian Foley (’96, ’97) to locales around the world, including Shanghai and Hong Kong, the University of Tennessee, Knoxville, will always be his academic home.
“I appreciate the education I gained at UT and value my continued connection to the university,” said Foley, a partner with the accounting firm EY and a resident of the Dallas-Fort Worth area. “My experiences across the country and around the world have shown me firsthand the importance of diversity and openness to culture, language, and different perspectives.”
A Second Endowment
Foley now aims to foster a more diverse environment at UT through the Foley Family Master of Accountancy (MAcc) Scholarship Endowment. The new scholarship, established in addition to the Brian and Heather Foley Accounting Excellence Endowment, will have a specific emphasis on attracting students from Historically Black Colleges and Universities and Hispanic-Serving Institutions, to enroll in the MAcc program at UT.
This new endowment gives us a pathway to work to achieve greater diversity and be intentional about what we’re trying to accomplish,” Foley said. “EY has taken a very vocal stance on diversity and inclusiveness. This scholarship endowment leverages matching funds from EY and the Haslam Matching Gift Program to put words into action. The accounting profession has an underrepresentation of African American and Latinx professionals. Addressing underrepresentation in accounting and information management programs at the university level will provide a pipeline of talent needed to correct underrepresentation in the profession.”
Terry Neal, department head of accounting and information management and the Richard L. Townsend Distinguished Professor of Accounting, says programs often struggle to recruit diverse students and look nationwide to do so.
“This new Foley Family Scholarship will help us compete for highly qualified, diverse students,” Neal said. “Increasing the diversity of the students in our accounting program will bring needed diversity of thought to our classroom discussions and will also make UT an even more desirable place for firms to recruit students.”
Neal expressed gratitude for Foley’s involvement with the department throughout the years, not only through financial support but also by giving of his time to speak with students and serve on the advisory board.
“We are extremely proud to have Brian as a graduate of our accounting programs,” Neal said. “He has a strong desire to help the next generation of accounting students, and for that we are very grateful.”
Through this scholarship, we also can support students from beyond Tennessee’s borders to become Vols and take the Volunteer spirit across the country and around the world.
– Brian Foley (’96, ’97)
Spreading Vol Culture Nationwide
Foley believes because UT enjoys an excellent reputation as a school for accounting, the university can lead “from the front” with other key stakeholders to achieve greater diversity in the accounting profession. That includes bringing together people of all ethnicities, races, genders, and geographic origins to enrich not only campus but other locations throughout the nation and world.
“While not a native Tennessean, I embraced the Volunteer culture from the moment I stepped on campus. That culture is infectious and can bind students and alumni for a lifetime. Through this scholarship, we also can support students from beyond Tennessee’s borders to become Vols and take the Volunteer spirit across the country and around the world,” Foley said.
Foley chose to give back to UT in part because he attributes a significant part of his career success to the academic foundation developed during his time in Knoxville.
“UT positioned me for all the success that followed my years as a student,” Foley said. “UT gave me the tools and foundation for success that I rely on almost 25 years later, and I am still anchored to that solid foundation as I continue building my career.”
