The Numbers Add Up
There’s no arguing that Sheldon “Shel” Richman is a numbers guy. He was a tax partner at Deloitte, the professional services firm, for forty years.
For Shel, accounting was not just a profession — it was intellectually rewarding and deeply engaging. Through his work, he was able to learn about a wide variety of businesses in different industries, gaining insight into how organizations operate and make financial decisions. Along the way, he met fascinating people whose perspectives broadened his understanding of the business world. His career also gave him opportunities to travel internationally, expanding both his professional and cultural horizons. Beyond the professional benefits, his role provided a comfortable living for his family and helped set the foundation for future generations.
“We want others to have the educational opportunity to achieve professional results similar to mine,” notes Richman. “Our family is committed to the profession. My granddaughter is the fourth generation who has been licensed to practice public accounting in California. We appreciate the need to attract and educate qualified students who are the profession’s future.”
This strong belief in education and opportunity led to the creation of the Richman Family-Deloitte Foundation Undergraduate Scholarship in Accounting Endowed Fund at UCR in 2007. With the support of his wife, Judy, and their four children, and with a matching fund from Deloitte, Shel established a resource that would provide long-lasting benefits to students pursuing accounting. The scholarship represents both the Richmans’ family legacy and their commitment to nurturing the future of the profession.
The impact of this generosity has been deeply felt within the UCR School of Business. “I personally thank Shel and Judy for helping the School of Business reach new levels of excellence,” says Yunzeng Wang, Dean of the UCR School of Business. “Their ongoing generosity is providing tremendous opportunity for local, deserving students to learn and grow in a nationally-ranked business program.”
Each year, deserving students are given the opportunity to pursue their academic and professional goals thanks to the Richman Family-Deloitte Foundation Scholarship. One of this year’s recipients, first-year student Carol Chang, shares the Richmans’ love of the profession: “My favorite part is that when I learn accounting, most of what I’m learning will be applicable at my first job. Also, how simple it can be; like when I first learned about assets = liabilities + equity, it was actually straight forward how assets would be what the individual or company owns, liabilities would be what they owe to others, and equity would be subtracting assets from liabilities. I enjoy working with numbers.”
Carol’s reflection highlights the very purpose of the scholarship: to encourage students to embrace the field of accounting, develop confidence in their abilities, and prepare for impactful careers. Scholarships not only reduce financial barriers but also validate the hard work and dedication of students who are eager to join the profession. For many, the scholarship becomes both a financial relief and a motivating factor that propels them forward.
If the good vibes that come with helping a young person toward their career goals isn’t enough, Shel Richman does have a bit of extra advice for would-be donors: the gifts to establish a scholarship are tax deductible. His reminder reinforces the practicality of philanthropy — giving back can create meaningful change for students while also benefiting the donor.
The Richman family’s story is a powerful example of how personal passion, professional achievement, and generosity can intersect to leave a lasting legacy. By creating pathways for students to succeed, they are ensuring that the numbers continue to add up for future generations of accountants at UC Riverside.