In this article, the author explains the trend toward service learning projects in higher education and justifies their use in the field of accounting. He describes a service learning project that was used to directly address the development of the competencies listed in the Core Competency Framework created by the American Institute of Certified Public Accountants (AICPA). The project involves designing a business plan for a local community seeking to request and distribute grant funds for the rehabilitation of existing owner-occupied property in the area. Components of the service-learning project address all three categories of competencies: functional, personal, and broad business perspective competencies. (Contains 2 tables and 1 figure.)