David Nazarian College of Business and Economics

  • students attend the CSUN VITA Clinic to help with their taxes for 2018

Bank of Hope's Gift to CSUN Helps Open New Site in North Hollywood

bank of hope presents CSUN with a 20,000 dollar check to help support the CSUN VITA CLINIC

President and CEO of Bank of Hope Kevin Kim, CSUN Vice President for University
Advancement and President of the CSUN Foundation Robert D. Gunsalus and
CSUN Foundation board member, Chief Operating Officer of
Bank of Hope and alumnus David Malone.

Bank of Hope has given California State University, Northridge $20,000 to help expand the university’s income tax preparation assistance program for low-income families and individuals. The money supported the operations of CSUN’s Volunteer Income Tax Assistance (VITA) Clinic during the 2018 tax season.

"This gift allows us to serve additional sites in the San Fernando Valley, including one in North Hollywood, where we haven’t been before,” said accounting professor Rafi Efrat, director of the CSUN VITA Clinic and Bookstein Low Income Taxpayer Clinic. “We’re also hoping to utilize some of the funding to enable us to serve a broader audience in the community. We are grateful for the generosity of the Bank of Hope.”

Kim said the donation helps community members in need and helps students in their futures: “We are delighted to have this opportunity to provide funding to assist individuals with their income tax reporting requirements, while at the same time providing students with a real-life tax compliance experience.”

Headquartered in Los Angeles, Bank of Hope and its predecessors have been providing financial services to the largest Korean-American community in the country for more than 36 years. Today, Bank of Hope serves a multiethnic population of customers through 64 full-service branches across nine states; eight Loan Production Offices add a presence in two additional states.

VITA has been offering free assistance with state and federal tax preparation to eligible low-income individuals and families for more than four decades. While there is a maximum gross income limit per tax return, it’s usually set by the IRS at $54,000, about the average income of a Los Angeles resident. The program is staffed by IRA-certified student volunteers and was available to taxpayers six days a week at CSUN’s campus and 20 total locations across Southern California, beginning Jan. 23 and running through April 17.