Jeff with his parents at graduation.
by Gail Mallimson
September 2024
Jeff Franco (B.S., ’83) remembers his years as an undergraduate student at San Francisco State University as some of the best in his life. He grew up in Daly City and followed in his older brother’s footsteps to SF State. Jeff’s brother was an education major, and the two would be the first generation in their family to receive college degrees.
In his freshman year, Jeff took a series of core introductory classes to determine what his educational and career paths would be. He enrolled in an accounting class, and it was there that he found that he had a natural aptitude for it. Seeing this, his professor Tony DiFrancesco suggested that Jeff major in accounting, which he did. Eventually, Jeff joined the SF State chapter of Beta Alpha Psi, an honorary professional community for financial information students and professionals. Jeff remembers making a lot of friends at Beta Alpha Psi and having the opportunity to meet accounting professionals through career-building activities and professional visits.
After graduation, Jeff was hired by the accounting firm Ernst & Whinney, which eventually became Ernst & Young. He spent most of his professional career there until retiring in 2018. For many years, Jeff was the lead recruiter for the tax department of the San Francisco office of Ernst & Young, interviewing as many as 50 applicants each year. While Ernst & Young believed that the demographics of the firm should mirror the demographics of the community it served, Jeff noticed a lack of diversity among the applicants he interviewed.
In response, Jeff visited several college campuses, where he observed that many accounting programs did not seem to attract large numbers of students from underrepresented communities. This fact surprised him, as he viewed a career in accounting to be personally and financially fulfilling.
When he retired, Jeff was determined to do something about this lack of representation. Knowing that SF State prioritizes inclusion, he increased his giving to the University’s Lam Family College of Business accounting department. He also began to volunteer in high schools, introducing students to the accounting field and work. When Dr. Amy Chang, the then-head of the SF State accounting department, asked him to join an advisory board to help with the continuing evolution of the department, he jumped at the opportunity.
After meeting and speaking with Professor Theresa Hammond, Director of the Diversity, Equity, Inclusion and Belonging Initiative (DEIB) in the college, Jeff became inspired to deepen his support of SF State students. He decided to establish and fund the Franco Family Accounting Scholarship, a scholarship specifically for economically disadvantaged accounting students at SF State who have demonstrated a commitment to enhancing diversity. Jeff’s former employer Ernst & Young matched his initial donation through the Ernst & Young Foundation, allowing the Franco Family Fund to award three accounting students $5,000 in its initial year, with a goal of supporting many more in the future.
One of the first awardees, Andrea Alvarado, is a first-generation college student (like Jeff was). Andrea is extremely proud of being awarded the Franco Family Scholarship, and grateful for the needed financial support. While she volunteers in an accounting program in high schools with Dr. Theresa Hammond, her need to work part-time while attending school has precluded her from participating in more career-focused organizations like Beta Alpha Psi, the club that Jeff feels contributed to his career-readiness and engagement as a student at SF State. “I don’t get the opportunity to pursue more career-focused activities such as unpaid on-campus organizations,” says Andrea. “Now I have the opportunity because of the Franco Family Accounting Scholarship.”
For Jeff, supporting accounting students at SF State has been a truly rewarding experience. “I just want to make sure other students have that same opportunity that I did,” says Jeff. “I've been blessed in my life, and I want to help other people to be successful as well.”
