Latest News from College Access Foundation

FOR IMMEDIATE RELEASE
January 8, 2010

COLLEGE ACCESS FOUNDATION OF CALIFORNIA ANNOUNCES
NEW CHIEF FINANCIAL OFFICER AND TREASURER

San Francisco, CA – College Access Foundation of California, one of the largest higher education grant makers in the state, has named Phillippe Wallace, CFA, as chief financial officer and treasurer, effective January 11, 2010. Wallace will oversee the overall financial management of the Foundation, which has an endowment of $385 million. He succeeds John Gorsich, who is retiring.

Wallace brings considerable expertise in financial and budget management, having served in senior roles in the nonprofit and corporate sectors. He was formerly chief operating and financial officer for ZeroDivide, a public foundation based in San Francisco that invests in community enterprises that leverage technology to benefit people in vulnerable and underserved communities. He is also a board member and treasurer of Hispanics in Philanthropy.

Previously, Wallace was vice president in the corporate finance unit of SoundView Technology Group, and has held positions in financial planning and analysis for Wells Fargo, American Express Financial Advisors and Scudder, Stevens & Clark. Wallace received his bachelor’s degree from Harvard University and a master’s in Business Administration from the University of California, Berkeley.

Foundation president Julia I. Lopez said, “Phillippe Wallace is a talented executive who understands the importance of expanding access to higher education and the role that sound financial management plays in advancing our mission. We are very excited to have him join our management team as we continue to invest in young people at a critical time in their lives.”

Phillippe Wallace added, “I am delighted to join College Access Foundation of California, as I have a strong affinity for the foundation’s mission. Having grown up in rural New Mexico in a predominately poor and Latino community, scholarships were vital to my college education. If not for these critical sources of support, my path to higher education and the opportunities afforded to me might have been closed.”

College Access Foundation of California helps California students who have financial need attend college. The Foundation makes grants to community organizations and programs that offer advice and academic support to students, and use its funds to award college scholarships. Since its inception in 2005, the Foundation has supported nearly 20,000 scholarships for low-income and first-generation college students. For more information, visit  www.collegeaccessfoundation.org.

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