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beyond
the numbers

2013 Summary Annual report
Year In Review
Dear Friends,
For 37 years, the Economics Center
has been committed to developing
responsible decision makers. We
teach students how to make good
decisions through the Center’s
economic and financial education
programs, and we equip business
leaders with the knowledge
Margaret K. Valentine
needed to make informed economic
development decisions through our research and consulting
work. I am proud to report that 2013 was a year of continued
success for the Center.
We refocused the Center’s educator professional development
to align with the Common Core standards. This alignment
facilitates the integration of economic and financial education
into math, reading and language arts, and social studies.
Training teachers represents the highest return on investment,
as trained teachers have a recurring impact year after year,
classroom after classroom.
Our student programs and competitions bring economic
concepts to life and help students connect their academic
learning with the real world. We increased the number of Ohio
teams participating in the Stock Market Game (SMG) by fiftyone percent. We also expanded the social entrepreneurship
component of the Student Enterprise (StEP) program; in 2013,
we led over 500 students through the business development
process as they formed t-shirt companies and coffee shops

in their schools. Through the Center’s education programs,
students are learning the critical life skills that empower them
to make better decisions, transforming their lives, and creating
a stronger community.
In 2013, the Center’s research and consulting team
introduced new product capabilities for clients, including
regional compensation analysis and wage benchmarking
for specific occupations. The team also launched a new blog,
ECONversations, providing unique perspectives on what’s
happening in the economy. We remain dedicated to providing
insight that prepares leaders to make sound decisions for their
business, organization, or community.
As Chair of the Economics Center’s Board of Trustees, I would
like to thank you for your support of the Economics Center.
Your continued involvement with the Center is integral to
our success. I would also like to recognize the University of
Cincinnati and the Carl H. Lindner College of Business for its
valuable support and academic leadership. Finally, I would like
to acknowledge the Center’s Board of Trustees and staff for
their commitment to our mission.
We look forward to continuing to strengthen our community,
as we ensure students and business leaders are equipped with
the knowledge and resources needed to make responsible
decisions.

2012-2013 Highlights:
Engaged 11,178 students, grades
4-12, throughout the state in the
Stock Market Game; teaching
the basics of investing, risk and
diversification.
Enhanced the economic education
of 2,589 elementary students
from 30 local elementary schools
in Student Enterprise (StEP). Over
500 of these students participated
in the social entrepreneurship
component of StEP by running
their own school businesses.
StEP students earned a total of
$3,147,511 StEP dollars.
Enrolled 26 local high school juniors
and seniors in the Today’s Learners,
Tomorrow’s Leaders (TL2) summer
program, a rigorous, college-level
Microeconomics course.
Offered 30 teacher training courses,
for grades K-12, reaching over 295
educators and selling 225 graduate
credits. Over 100 educators
attended the Center’s Financial
Education Conference.

Mission
As a thought leader in the community, the Economics Center
provides the knowledge building blocks for a stronger
economy through economic education and research. Our
student-based programs, interactive tools and professional
development improve the economic and financial literacy of
school children and young adults. Our research and consulting
empowers business and civic leaders to make informed policy
and economic development decisions.

Our Impact

Engaging Students,
Empowering Educators,
Equipping Decision Makers
through the Knowledge
of Economics

Completed more than 40 research
and consulting projects for local
and regional clients, totaling over
$650,000 in revenues.
Community Impact: Engaging Students and Empowering Educators
TOTAL
STUDENTS
REACHED
IN 2012-2013

= 25,094

ENGAGING STUDENTS
Elementary School
Money Savvy Kids
+ Student Enterprise Program (StEP)
= 3,373 students impacted

EMPOWERING EDUCATORS
Middle & High School
The Stock Market Game
Dual Enrollment Personal Finance Course
+ Today’s Learners, Tomorrow’s Leaders (TL2)
= 11,221 students impacted

Professional Development for Teachers
350 Educators
x 30 students
= 10,500 students impacted
Community Impact: Equipping Decision Makers
Research & Consulting Division
The Center’s Research and Consulting Division provides the knowledge building blocks
that help clients make better finance, policy, and economic development decisions.
Notable accomplishments include:
Earned over $650,000 in contract research revenue with projects for the following
clients: Kenton County Airport Board, Focus on Ohio’s Future, City of Covington, City
of Omaha, City of Blue Ash, Cincinnati Regional Chamber, TriHealth, Catholic Health
Partners, Cincinnati Children’s Hospital, Cincinnati Works, University of Cincinnati,
Cincinnati State, Duke Energy, BKD, Hamilton County Educational Service Center, and
several others.

I
	ntroduced new product capabilities for our clients including compensation
analysis and wage benchmarking for specific occupations, and diversity audits
for employee demographics. These analyses help clients understand if their
workforce characteristics are consistent with the region’s workforce, industry,
and customers.
Launched a daily blog, ECONversations, where we engage in dialogue
about economic topics with members of the community. Our team provides
economic perspectives on what is happening in the economy in a way that
is easy to understand. Cincinnati Commercial Contracting is the first client to
sponsor content for our readers.
Statements
of Activities
for the years ended
June 30, 2013 & 2012

2013 				

2012

		 Temporarily 				
Revenues & gains	
Unrestricted 	
restricted	
Total 	Revenues & gains	Unrestricted	
Contributions 	
501,512	
339,405	
840,917	
Program revenue 	
1,059,511	
—	
1,059,511 	
Investment income	
33,759 	
79,957	
113,716	
Gain on investments 	
26,916	
30,477	
57,393	
In-kind contributions 	
156,659 	
—	
156,659 	
Net assets released 				
from restrictions	
286,936	
(286,936)	
—	
Total revenues & gains 	

2,065,293	

162,903 	

Contributions 	
Program revenue 	
Investment income 	
Loss on investments 	
In-kind contributions 	
Net assets released
from restrictions	

2,228,196 	Total revenues & gains	

Temporarily	
restricted	Total

716,444	
578,686	
11,546 	
(32,243)	
209,406 	

1,000,000	
—	
86,299 	
(76,954) 	
—	

1,716,444
578,686
97,845
(109,197)
209,406

83,580	

(83,580)	

—

1,567,419	

925,765 	

2,493,184

					
	
Expenses		
				
Program services 	
Management & general 	
Fundraising 	

1,651,398	
393,692 	
133,969 	

—	
—	
—	

1,651,398	
393,692 	
133,969 	

Total expenses 	

2,179,059 	

—	

2,179,059	Total expenses 	

(113,766)	

162,903 	

49,137	

Net assets at beginning of year	

712,337	

2,149,284 	

Net assets at end of year 	

598,571	

2,312,187 	

Change in net assets 	

ASSETS	

Statements
of Financial
Position
at June 30, 2013 & 2012

2013 	

2012

Cash & cash equivalents 	
Accounts receivable, net 	
Pledges receivable, net 	
Investments 	
Property & equipment, net 	

271,839 	
131,903 	
827,158 	
1,721,598 	
0	

387,536
121,852
809,960
1,567,212
173

Total assets 	

2,952,498 	

2,886,733

Program services 	
Management & general 	
Fundraising 	

		
—	
—	
—	

1,903,058 	

Change in net assets	

1,415,015	
349,789 	
138,254 	

1,415,015
349,789
138,254

—	1,903,058

(335,639)	

925,765 	

590,126

2,861,621	

Net assets at beginning of year 	 1,047,976	

1,223,519 	

2,271,495

2,910,758	

Net assets at end of year 	

2,149,284 	

2,861,621

712,337	

2013 	

2012

NET ASSETS	

2013 	

2012

Payable to related party 	
Accounts payable
& accrued expenses 	
Deferred revenue 	

35,180 	

18,199

598,571	

712,337

6,560	
—	

6,913
—

Unrestricted	
Temporarily
restricted 	

2,312,187	

2,149,284

Total liabilities	

41,740	

25,112

Total net assets	

2,910,758	

2,861,621

Total liabilities
& net assets 	

2,952,498	

2,886,733

LIABILITIES 	

These financial statements do not represent the complete set of audited financial statements for the Economics Center. A complete set of financial statements
also includes the Auditor’s Report and the Footnotes to the Financial Statements, which are omitted herein. The Economics Center’s complete audited financial
statements for the year ended June 30, 2013 may be obtained by visiting the Center’s web site at www.economicscenter.org.

www.economicscenter.org
Achievement

A LIFETIME OF LEARNING
The Center offers programs that begin at the early elementary grades and engage students as they go through middle and high school grades.

www.economicscenter.org
National Mentoring Month

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Stock Market Game
begins in February.
Register Teams Today!

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National Bird Day

www.economicscenter.org

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National Work
Harder Day

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Impact

TEACHERS ARE THE BEST AND MOST SUSTAINABLE VEHICLE TO REACHING THOUSANDS OF STUDENTS
Educators trained to teach financial and economic content are a long‐term, far‐reaching investment in our region. Each educator trained in the
Center’s courses impacts hundreds of students every year.

www.economicscenter.org
African American History Month

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Groundhog Day

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Personal Finance Challenge registration begins February 4, 2014
www.financechallenge.org

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Thursday	

Today’s Learners, Tomorrow’s Leaders (TL2)
Now accepting applications from high school juniors and seniors for a
highly competitive, 3-week summer program. Encourage students to
apply at: www.economicscenter.org/tl2

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President’s Day

Mardi Gras

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Dedication
COVER

Economics Center Annual Awards Luncheon
“The big conclusion is that you need to get financial literacy concepts embedded in public schools throughout America and have it really embedded
in the core curriculum. So the kids are learning financial concepts all the way from grade school through high school, and then have the capabilities
to graduate as financially capable and financially literate citizens.” -John Rogers, CEO, Ariel Investments

www.economicscenter.org
Women’s History Month

March
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February 2014
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Reserve your seat at the Annual Awards Luncheon this
month. Visit www.economicscenter.org/awards for details
and to register!

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Daylight Saving Time
Begins

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Corryville Catholic School

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Winton Hills Academy

Pleasant Ridge Montessori

Roberts Academy

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World Consumer
Rights Day

Kilgour Elementary

Stock Market Game

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St. Patrick’s Day

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Rees E. Price Academy
Holy Family Catholic School

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Amity Elementary

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St. Boniface School

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North College Hill Elementary
Eden Grove Academy

Stock Market Game

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Reading Central Elementary

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Frederick Douglass School
Hays Porter Elementary

Stock Market Game

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Annual Awards
Luncheon

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WEAR GREEN FOR FINANCIAL LITERACY MONTH
Managing one’s personal finances and understanding how the economy works empowers an individual to be a more informed citizen, a more
knowledgeable consumer, and a more productive employee.

www.economicscenter.org
Financial Literacy Month

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Personal Finance
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Palm Sunday

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Tax Day

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Good Friday

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David Ricardo’s
birthday

Stock Market Game
Easter Sunday

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Earth Day

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Stock Market Game

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May 2014

Be sure to wear green for
Financial Literacy Month
and post pictures to our
Facebook page.
facebook.com/
UCEconomicsCenter
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Engagement

ELEMENTARY STUDENTS BRING THEIR ENTREPRENEURIAL SPIRIT TO LIFE
Each year, over 1,000 elementary students buy, sell, and advertise student-made products at the city-wide Market Madness event. Classroom
businesses produce toy rockets, jewelry, bookmarks, hats, etc.

www.economicscenter.org
National Inventors Month

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Personal Finance
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Reading Central Elementary

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North College Hill Elementary

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Portfolio Challenge

Mother’s Day

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Midway School
Corryville Catholic School

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Bond Hill Academy
Winton Hills Academy

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Memorial Day

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North Avondale Montessori

denotes school stores

Frederick Douglass School
Hays Porter Elementary

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Armed Forces Day

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Kilgour Elementary

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Market Madness

Roberts Academy

Rees E. Price Academy
Holy Family Catholic School

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Eden Grove Academy
Opportunity

CONNECTIONS TO THE COMMON CORE
“Teachers benefit from taking a course from the Center because the course integrates financial education topics and economics with the Ohio Common
Core (Mathematics, English Language Arts, and Social Sciences), making it easier to integrate financial literacy concepts into the subjects we are
currently teaching.” – Rick Robisch, Norwood High School, Alpaugh Summer Institute Participant

www.economicscenter.org
National Safety Month

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John Keynes’
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Flag Day

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First Day of Summer

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Weigel Elementary

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Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program
Father’s Day

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Adam Smith’s birthday

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Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program

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Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program

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Excitement

TODAY’S LEARNERS, TOMORROW’S LEADERS (TL2)
This highly selective, three week summer program for high school students teaches the fundamentals of economic principles in a college course. It
exposes students to the opportunities and careers that exist in Cincinnati, and is an exceptional college and career readiness program.

www.economicscenter.org
National Parks Month

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Competition

VIRTUAL INVESTING, REAL-WORLD LEARNING, AND A PORTFOLIO CHALLENGE
The Stock Market Game™ program is an online market simulation allowing students to manage a virtual stock portfolio and compete against other
teams and schools regionally. This game teaches the fundamentals of investing. “SMG is easy to teach, easy to learn, and fun to do!”
– Suzanne Lewis, Cincinnati Country Day, SMG Teacher

www.economicscenter.org
American Artist Appreciation Month

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Apply today for the
Alpaugh Scholars
Leadership Program.

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Back to school!
Check out new teacher
training opportunities.

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Equality Day

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Investment

STUDENTS WITH THE WINNING PORTFOLIO EARN A TRIP TO NYC TO VISIT WALL STREET
Winning teams visit the NYSE and the nation’s top investment firms such as Goldman Sachs, Legg Mason and Lazard. “I’m all about applied learning.
If you handed kids a finance textbook, it would mean nothing to them. But when you have a stake in it and you have to use the information you are
given, that’s when you’re really learning.” - Michael Barton, Stock Market Game Participant

www.economicscenter.org
National School Success Month

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Labor Day

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Patriot Day

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Constitution Day

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Grandparent’s Day

First Day of Autumn

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October 2014

REMINDER: Stock Market Game starts in October.
Register teams today!

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Alpaugh Scholars Leadership Program
Now accepting applications from education leaders.
Visit www.economicscenter.org today!

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Leadership

STUDENT ENTERPRISE (StEP) STUDENTS LEARN PRACTICAL SKILLS FOR A LIFETIME
“StEP is one of those valuable programs for us. It allows us to tie our educational standards to situations that are real for our students, without
taking up valuable class time. It sets up a positive incentive that is monitored by students themselves, which in turn does not create more work for the
teachers. StEP gives me tools, many times over, to assist my students in becoming life-long learners.” -Teri Spindler, StEP Teacher
Chase Elementary School

www.economicscenter.org
Financial Planning Month

October
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Stock Market Game

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Columbus Day

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Stock Market Game

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Stock Market Game

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Experience

FIRST TIME EXPERIENCE ON A COLLEGE CAMPUS
For many students, participation in the Center’s programs provides an opportunity to visit the University of Cincinnati, tour the campus,
and get excited about their future college career.

www.economicscenter.org
Native American Heritage Month

November
	Sunday	

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Veteran’s Day

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Thanksgiving Day

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Inspiring
COVER

LARGEST PRIVATE GIFT to THE UNIVERSITY OF CINCINNATI FOR ECONOMIC EDUCATION
Mr. Peter Alpaugh and the Alpaugh Family Foundation contributed $1 million to establish the online Alpaugh i-Learn Economics
Education Program. “Educating our young people about economics is very important for the future of our country,” said Peter Alpaugh,
member of the Center Board and President of Cincinnati Equitable Insurance.

www.economicscenter.org
Universal Human Rights Month

December
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Pearl Harbor
Remembrance Day

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First Day of Winter

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Hanukkah Ends

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New Year’s Eve

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Hanukkah Begins

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Individual Donors
Gladys Aalbers
Claudia Abercrumbie
Mr. Peter A. Alpaugh
Anonymous
Linda Antus
Ms. Ramona Beck
Mr. & Mrs. David L. Belew
Dr. Richard Brown
Margaret Burks
Diane & William Carney
Laura Carr
Samuel M. Cassidy
John Castaldi
Charlie Cerino
Michael J. Conaton
Dr. Alvin Crawford
Kathleen C. Daly
Mr. Gerald J. DeBrunner
Mr. Brian Doyle
Dr. Gigi Escoe
Warren Falberg
Michael & Maria Fox
Mr. John J. Frank, Jr.
Chris & Angela Habel
Douglas & Diana Haskell
Dr. Julie Heath
Thomas D. Heekin
Denice Hertlein
Paul Hitter
Barbara Johnson
Honorable Nathaniel Jones
Shannon Keesee
Dr. Thomas Kessinger
Mr. Marvin Kolodzik
Adrijana & Stefan Kowatsch
Dr. Valerie Krugh
Margaret Lawson
Mr. Robert Luby
Ms. Claire Luby
Mr. Sean McGrory
Tom & Becki Meyer
W. Troy Neat
Robert C. Ortner, Jr.

Thank you to our Contributors
Atul Paradkar
Lorrie Penner
Mr. Barry Porter
Jeff & Theda Rexhausen
Mr. Gerald Robinson
Mr. Wm. (Bill) T. Robinson III
Mr. Tripp Rogers
Mary A. Ronan
Jim & Susan Russell
Thomas R. Schiff
Dr. Jennifer Shand
Jaclyn Smith
Jennifer Stein
Dr. Kalyanasubbu Sundaravelu
Carol G. Talbot
Dr. Michael A. Thomas
Woodrow Uible
Ms. Margaret K. Valentine
Dr. George M. Vredeveld
Mr. and Mrs. John Westheimer
Donald E. Weston
Van & Robin White
Mr. Casey Woodruff
John H. Wyant
Susan Zaunbrecher

Business and
Foundation Donors
Al Neyer, Inc.
The Alpaugh Family Foundation
Anonymous
The Asset Advisory Group
Bahl & Gaynor Investment Counsel
Bartlett & Co.
Cassidy Turley
Catholic Health Partners
CENGAGE Learning
Charles H. Dater Foundation
Cincinnati Better Business Bureau
Cincinnati Business Committee
Cincinnati Financial Corporation

The Cincinnati Insurance Companies
Cincinnati Police FCU
Cincinnati USA Regional Chamber
Clark Schaefer Hackett & Co.
Cooney Faulkner & Stevens, LLC
Cornerstone Foundation
Council for Economic Education
Deloitte & Touche, LLP
The E.W. Scripps Company
Enquirer Media
Executive Service Corps
The Fifth Third Bank
Financial Network Group
Financial Planning Association of Greater Cincinnati
First Financial Bank
Fort Washington Investment Advisors, Inc.
Frost Brown Todd, LLC
Fund Evaluation Group
The Health Foundation of Greater Cincinnati
Helen Steiner Rice Foundation
The Huntington National Bank
Hispanic Chamber of Commerce USA
Hixson, Inc.
Horan Associates
Jacob G. Schmidlapp Trusts,
Fifth Third Bank, Trustee
JD Cloud Company, LLP
The John A. Schroth Family Charitable Trust,
PNC Bank, Trustee
Keating, Muething, & Klekamp
Khoury Family Fund of The Greater
Cincinnati Foundation
KnowledgeWorks
LPK
Malcolm & Ruth Myers Fund of The Greater
Cincinnati Foundation
MCF Advisors
Messer Construction Company
National Underground Railroad Freedom Center
NorthSide Bank and Trust Company
Northwestern Mutual - The Kelley Financial Group
OCG Telecom
Ohio National Financial Services

Openfield Creative
Pepper Family Fund of The Greater
Cincinnati Foundation
PNC Bank
Port of Greater Cincinnati Development Authority
RCF Group
Rhineland Foundation
Riverpoint Capital Management
Ruth J. and Robert A. Conway Foundation
State Farm Insurance
Strategic Medical Associates
The Sutphin Family Foundation
Taft, Stettinius & Hollister, LLP
Techsolve, Inc.
Towne Properties
UBS
University of Cincinnati
University of Cincinnati, Carl H. Lindner
College of Business
University of Cincinnati, Carl H. Lindner
College of Business Alumni Board of Governors
US Bank
Vehr Communications, LLC
Western & Southern Financial Fund
Wood, Herron & Evans, LLP
The Zaring Family Foundation
Board of Trustees
Peter A. Alpaugh
Cincinnati Equitable Insurance
Douglas Bolton
Cassidy Turley
T. Brian Brockhoff
Bailey Capital Partners
Mark Cinquina
PNC Real Estate Banking
Richard O. Coleman
NextLevel Transportation Services
Michael J. Conaton
The Midland Company
Warren C. Falberg
Cincinnati, OH
Crystal L. Faulkner
Cooney Faulkner & Stevens, LLC
Michael Fox
Deloitte & Touche, LLP
John J. Frank, Jr.
Cassidy Turley
Christopher S. Habel
Frost Brown Todd
Terence L. Horan
Horan Associates, Inc
Adrienne James
Sycamore Community Schools
Shawn Kelley
Northwestern Mutual Financial Network
Lisa Kuethe
Huntington Bank
Margaret Lawson
Taft Stettinius & Hollister, LLP
Sean V. McGrory
Clark, Schaefer, Hackett
Howard McIlvain
LPK
William L. Neyer
Al Neyer, Inc.
Barry Porter
Cincinnati, Ohio
Jim Rigg
Archdiocese of Cincinnati

Advisory Board
William T. (Bill) Robinson III
Frost Brown Todd, LLC
Mary Ronan
Cincinnati Public Schools
James Russell
US Bank
Andrew Sathe
MCF Advisors
Jennifer Stein
Cincinnati, OH
David M. Szymanski
University of Cincinnati
Carol G. Talbot
Cincinnati, Ohio
Howard J. Taragano
Macy’s, Inc.
Woodrow Uible
Bartlett & Co.
Margaret K. Valentine
Valentine Research
Nick Vehr
Vehr Communications, LLC
Roberta A. White
Great Oaks Institute of Technology
Susan Zaunbrecher
Dinsmore & Shohl

Edmund J. Adams
Terrance L. Ashanta-Barker
Michael D. Baker
Thomas A. Barefield
John F. Barrett
David Belew
J. Michael Brandt
Lawrence H. Braun
Diane C. Carney
Samuel M. Cassidy
Edward F. Castleberry
Charles A. Cerino
Raymond R. Clark
Phillip R. Cox
Kathleen C. Daly
Richard K. Davis
Michael A. Fisher
J. Jeffrey Edmondson
Jerry M. Galvin
Bill O’Gara
Victoria Gluckman
Lawrence L. Grypp
J. Joseph Hale, Jr.
Carrie Hayden
Tom Heekin
Barbara B. Henshaw
Robert L. Hoverson
Thomas H. Humes
David A. Jackson
Jane Juracek-Reherman
Donald Kaplan
Ralph Katerberg
Jan-Michele Lemon Kearney
Kathleen L. Klink
Charles P. Koch
Marvin Kolodzik
Pranav G. Kothari
Donald D. Larson
Charles D. Lindberg
Gary Lindgren
James M. Lippert
Stephen MacConnell

Donor Spotlight
Ronald H. McSwain
Juanita Mills
Quentin Nesbitt
Michael B. Packard
Stan Pontius
Ronald B. Raley
Dale D. Rayney
Jeff Rosen
Fritz A. Russ
Donald E. Schmidt
James E. Schwab
William P. Sheehan
David O. Smith
Timothy E. Stautberg
Tom A. Steele
Barbara J. Stonebraker
Ellen G. van der Horst
Michael A. Webb
John R. Westheimer
Donald E. Weston
Harry M. Whipple
Chad P. Wick
Wayne R. Wickens
Robert P. Wiwi
John H. Wyant
Allen G. Zaring

The John A. Schroth Family Charitable Trust,
PNC Bank, Trustee
A special thank you for the generous
contribution to the Economics Center.
In December 2012, the PNC Bank awarded the
Economics Center with a $15,000 grant from
The John A. Schroth Family Charitable Trust
for the development and implementation
of our Money Savvy Kids Program. Money
Savvy Kids trains elementary educators on
how to implement the Council for Economic
Education’s Financial Fitness for Life curriculum
in their classrooms. Educators then deliver this
curriculum to their students. In its inaugural
year, 52 teachers participated in the program
and in turn, 1,000 young students were
equipped with the important foundations of
economic and financial education. Money
Savvy Kids is modeled after $mart Tennessee,
which is an initiative Dr. Julie Heath, the
Economics Center Executive Director, founded
while at the University of Memphis.
The Economics Center is currently pursuing
funding to ensure another 50 educators can be
recruited in the program next year.
Support Your Economics Center
225 Calhoun Street, Suite 370
Cincinnati, OH 45219-0023
513.556.2948
www.economicscenter.org

We’ve already taught economics and personal finance to
1,000,000 students. Will you help us reach the next 1,000,000?
After three and a half decades of work, the Economics Center has trained thousands
of teachers, developed countless classroom materials and teaching resources, and
impacted one million students through innovative school programs that foster and
support knowledge of the economy, entrepreneurship, and personal financial literacy.
Rapid changes in our economy and the workplace demand a more contemporary set
of skills from young individuals entering the workforce. Our work allows teachers to
effectively equip their students with the skills they will need for life.
Knowledge of economics and financial education has the power to transform one’s
life and improve decision-making. It is with a focus on creating an informed future
generation that we are laying a solid foundation for urban economic growth.
To join our effort, please support the Center at www.economicscenter.org/give.
Staff
Julie Heath, PhD
	 President and Director

Adrijana Kowatsch
	 Chief Operating Officer

Jaclyn Smith
	 Director, Marketing

Brad Evans
	 Director, Business
Development

Valerie Krugh, PhD
	 Director, School Relations

Stuart Wilson
	 Research Associate

Alicia Franklin
StEP Store Facilitator

Claire Luby
Development Officer

Casey Woodruff
	 Director, Student and
Community Relations

Erin Harris
	 Director, Student
Enterprise (StEP)

Lorrie Penner
	 Executive Assistant

Sue Heilmayer
	 Accountant

Jeff Rexhausen
	 Senior Research
Associate

Michael Jones, PhD
	 Director, Research

Megan Ryan
	 Research Associate

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2013 Annual Report

  • 1. beyond the numbers 2013 Summary Annual report Year In Review
  • 2. Dear Friends, For 37 years, the Economics Center has been committed to developing responsible decision makers. We teach students how to make good decisions through the Center’s economic and financial education programs, and we equip business leaders with the knowledge Margaret K. Valentine needed to make informed economic development decisions through our research and consulting work. I am proud to report that 2013 was a year of continued success for the Center. We refocused the Center’s educator professional development to align with the Common Core standards. This alignment facilitates the integration of economic and financial education into math, reading and language arts, and social studies. Training teachers represents the highest return on investment, as trained teachers have a recurring impact year after year, classroom after classroom. Our student programs and competitions bring economic concepts to life and help students connect their academic learning with the real world. We increased the number of Ohio teams participating in the Stock Market Game (SMG) by fiftyone percent. We also expanded the social entrepreneurship component of the Student Enterprise (StEP) program; in 2013, we led over 500 students through the business development process as they formed t-shirt companies and coffee shops in their schools. Through the Center’s education programs, students are learning the critical life skills that empower them to make better decisions, transforming their lives, and creating a stronger community. In 2013, the Center’s research and consulting team introduced new product capabilities for clients, including regional compensation analysis and wage benchmarking for specific occupations. The team also launched a new blog, ECONversations, providing unique perspectives on what’s happening in the economy. We remain dedicated to providing insight that prepares leaders to make sound decisions for their business, organization, or community. As Chair of the Economics Center’s Board of Trustees, I would like to thank you for your support of the Economics Center. Your continued involvement with the Center is integral to our success. I would also like to recognize the University of Cincinnati and the Carl H. Lindner College of Business for its valuable support and academic leadership. Finally, I would like to acknowledge the Center’s Board of Trustees and staff for their commitment to our mission. We look forward to continuing to strengthen our community, as we ensure students and business leaders are equipped with the knowledge and resources needed to make responsible decisions. 2012-2013 Highlights: Engaged 11,178 students, grades 4-12, throughout the state in the Stock Market Game; teaching the basics of investing, risk and diversification. Enhanced the economic education of 2,589 elementary students from 30 local elementary schools in Student Enterprise (StEP). Over 500 of these students participated in the social entrepreneurship component of StEP by running their own school businesses. StEP students earned a total of $3,147,511 StEP dollars. Enrolled 26 local high school juniors and seniors in the Today’s Learners, Tomorrow’s Leaders (TL2) summer program, a rigorous, college-level Microeconomics course. Offered 30 teacher training courses, for grades K-12, reaching over 295 educators and selling 225 graduate credits. Over 100 educators attended the Center’s Financial Education Conference. Mission As a thought leader in the community, the Economics Center provides the knowledge building blocks for a stronger economy through economic education and research. Our student-based programs, interactive tools and professional development improve the economic and financial literacy of school children and young adults. Our research and consulting empowers business and civic leaders to make informed policy and economic development decisions. Our Impact Engaging Students, Empowering Educators, Equipping Decision Makers through the Knowledge of Economics Completed more than 40 research and consulting projects for local and regional clients, totaling over $650,000 in revenues.
  • 3. Community Impact: Engaging Students and Empowering Educators TOTAL STUDENTS REACHED IN 2012-2013 = 25,094 ENGAGING STUDENTS Elementary School Money Savvy Kids + Student Enterprise Program (StEP) = 3,373 students impacted EMPOWERING EDUCATORS Middle & High School The Stock Market Game Dual Enrollment Personal Finance Course + Today’s Learners, Tomorrow’s Leaders (TL2) = 11,221 students impacted Professional Development for Teachers 350 Educators x 30 students = 10,500 students impacted
  • 4. Community Impact: Equipping Decision Makers Research & Consulting Division The Center’s Research and Consulting Division provides the knowledge building blocks that help clients make better finance, policy, and economic development decisions. Notable accomplishments include: Earned over $650,000 in contract research revenue with projects for the following clients: Kenton County Airport Board, Focus on Ohio’s Future, City of Covington, City of Omaha, City of Blue Ash, Cincinnati Regional Chamber, TriHealth, Catholic Health Partners, Cincinnati Children’s Hospital, Cincinnati Works, University of Cincinnati, Cincinnati State, Duke Energy, BKD, Hamilton County Educational Service Center, and several others. I ntroduced new product capabilities for our clients including compensation analysis and wage benchmarking for specific occupations, and diversity audits for employee demographics. These analyses help clients understand if their workforce characteristics are consistent with the region’s workforce, industry, and customers. Launched a daily blog, ECONversations, where we engage in dialogue about economic topics with members of the community. Our team provides economic perspectives on what is happening in the economy in a way that is easy to understand. Cincinnati Commercial Contracting is the first client to sponsor content for our readers.
  • 5. Statements of Activities for the years ended June 30, 2013 & 2012 2013 2012 Temporarily Revenues & gains Unrestricted restricted Total Revenues & gains Unrestricted Contributions 501,512 339,405 840,917 Program revenue 1,059,511 — 1,059,511 Investment income 33,759 79,957 113,716 Gain on investments 26,916 30,477 57,393 In-kind contributions 156,659 — 156,659 Net assets released from restrictions 286,936 (286,936) — Total revenues & gains 2,065,293 162,903 Contributions Program revenue Investment income Loss on investments In-kind contributions Net assets released from restrictions 2,228,196 Total revenues & gains Temporarily restricted Total 716,444 578,686 11,546 (32,243) 209,406 1,000,000 — 86,299 (76,954) — 1,716,444 578,686 97,845 (109,197) 209,406 83,580 (83,580) — 1,567,419 925,765 2,493,184 Expenses Program services Management & general Fundraising 1,651,398 393,692 133,969 — — — 1,651,398 393,692 133,969 Total expenses 2,179,059 — 2,179,059 Total expenses (113,766) 162,903 49,137 Net assets at beginning of year 712,337 2,149,284 Net assets at end of year 598,571 2,312,187 Change in net assets ASSETS Statements of Financial Position at June 30, 2013 & 2012 2013 2012 Cash & cash equivalents Accounts receivable, net Pledges receivable, net Investments Property & equipment, net 271,839 131,903 827,158 1,721,598 0 387,536 121,852 809,960 1,567,212 173 Total assets 2,952,498 2,886,733 Program services Management & general Fundraising — — — 1,903,058 Change in net assets 1,415,015 349,789 138,254 1,415,015 349,789 138,254 — 1,903,058 (335,639) 925,765 590,126 2,861,621 Net assets at beginning of year 1,047,976 1,223,519 2,271,495 2,910,758 Net assets at end of year 2,149,284 2,861,621 712,337 2013 2012 NET ASSETS 2013 2012 Payable to related party Accounts payable & accrued expenses Deferred revenue 35,180 18,199 598,571 712,337 6,560 — 6,913 — Unrestricted Temporarily restricted 2,312,187 2,149,284 Total liabilities 41,740 25,112 Total net assets 2,910,758 2,861,621 Total liabilities & net assets 2,952,498 2,886,733 LIABILITIES These financial statements do not represent the complete set of audited financial statements for the Economics Center. A complete set of financial statements also includes the Auditor’s Report and the Footnotes to the Financial Statements, which are omitted herein. The Economics Center’s complete audited financial statements for the year ended June 30, 2013 may be obtained by visiting the Center’s web site at www.economicscenter.org. www.economicscenter.org
  • 6. Achievement A LIFETIME OF LEARNING The Center offers programs that begin at the early elementary grades and engage students as they go through middle and high school grades. www.economicscenter.org
  • 7. National Mentoring Month January Sunday Monday Tuesday M T W T F Thursday Friday Saturday 1 2 3 4 8 New Year’s Day December 2013 S Wednesday 9 10 11 S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Market Game begins in February. Register Teams Today! 31 National Bird Day www.economicscenter.org 5 6 7 North Avondale Montessori National Work Harder Day 12 Amity Elementary 13 14 15 16 17 18 20 21 22 23 24 25 27 28 29 30 31 Weigel Elementary 19 26 Martin Luther King Jr. Day February 2014 S M T W T F S 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1 denotes school stores
  • 8. Impact TEACHERS ARE THE BEST AND MOST SUSTAINABLE VEHICLE TO REACHING THOUSANDS OF STUDENTS Educators trained to teach financial and economic content are a long‐term, far‐reaching investment in our region. Each educator trained in the Center’s courses impacts hundreds of students every year. www.economicscenter.org
  • 9. African American History Month February Sunday Monday Tuesday January 2014 S M T W T F 1 2 3 6 7 8 9 10 S 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Groundhog Day Friday Saturday 1 National Freedom Day Personal Finance Challenge registration begins February 4, 2014 www.financechallenge.org 2 3 9 10 17 16 Thursday Today’s Learners, Tomorrow’s Leaders (TL2) Now accepting applications from high school juniors and seniors for a highly competitive, 3-week summer program. Encourage students to apply at: www.economicscenter.org/tl2 4 5 Wednesday President’s Day Mardi Gras 4 5 6 11 12 13 18 19 26 Ash Wednesday 7 8 14 15 20 21 22 27 28 Valentine’s Day Stock Market Game 23 24 25 March 2014 S M T W T F S 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 1 Stock Market Game
  • 10. Dedication COVER Economics Center Annual Awards Luncheon “The big conclusion is that you need to get financial literacy concepts embedded in public schools throughout America and have it really embedded in the core curriculum. So the kids are learning financial concepts all the way from grade school through high school, and then have the capabilities to graduate as financially capable and financially literate citizens.” -John Rogers, CEO, Ariel Investments www.economicscenter.org
  • 11. Women’s History Month March Sunday Monday Tuesday Wednesday Thursday Friday Saturday February 2014 S M T W T F S Reserve your seat at the Annual Awards Luncheon this month. Visit www.economicscenter.org/awards for details and to register! 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2 3 4 1 • 5 6 7 12 13 14 8 Stock Market Game Daylight Saving Time Begins 9 10 Midway School Corryville Catholic School 11 Bond Hill Academy Winton Hills Academy Pleasant Ridge Montessori Roberts Academy 15 World Consumer Rights Day Kilgour Elementary Stock Market Game 16 St. Patrick’s Day 17 18 Rees E. Price Academy Holy Family Catholic School 19 Amity Elementary 20 St. Boniface School 21 22 North College Hill Elementary Eden Grove Academy Stock Market Game 23 24 25 Reading Central Elementary 26 Frederick Douglass School Hays Porter Elementary Stock Market Game 30 31 Weigel Elementary 27 28 29 Annual Awards Luncheon • April 2014 S M T W T F 1 2 3 4 S 5 10 11 12 7 8 9 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 denotes school stores 6 28 29 30
  • 12. WEAR GREEN FOR FINANCIAL LITERACY MONTH Managing one’s personal finances and understanding how the economy works empowers an individual to be a more informed citizen, a more knowledgeable consumer, and a more productive employee. www.economicscenter.org
  • 13. Financial Literacy Month April Sunday S M T March 2014 W T F Monday Tuesday Wednesday 1 S Thursday 2 Friday Saturday 3 4 5 10 11 12 1 2 3 4 5 6 7 North Avondale Montessori 8 15 9 10 11 12 13 14 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 6 Stock Market Game 7 8 9 Personal Finance Challenge State Finals • Stock Market Game Palm Sunday 13 14 Tax Day 15 16 17 Good Friday 18 19 David Ricardo’s birthday Stock Market Game Easter Sunday 20 21 Earth Day 22 23 24 25 26 Stock Market Game 27 28 29 30 May 2014 Be sure to wear green for Financial Literacy Month and post pictures to our Facebook page. facebook.com/ UCEconomicsCenter denotes school stores S M T W T F S 1 2 3 10 4 5 6 7 8 9 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
  • 14. Engagement ELEMENTARY STUDENTS BRING THEIR ENTREPRENEURIAL SPIRIT TO LIFE Each year, over 1,000 elementary students buy, sell, and advertise student-made products at the city-wide Market Madness event. Classroom businesses produce toy rockets, jewelry, bookmarks, hats, etc. www.economicscenter.org
  • 15. National Inventors Month May Sunday Monday April 2014 W Tuesday Wednesday Thursday 1 June 2014 S M T T F S S M T W T F 1 2 3 4 5 1 2 3 4 5 6 7 6 7 8 9 10 11 12 8 9 10 11 12 13 S 14 13 14 15 16 17 18 19 15 16 17 18 19 20 21 22 23 24 25 26 22 23 24 25 26 27 28 29 30 29 30 4 5 Cinco de Mayo 2 3 • 28 27 Saturday Personal Finance Challenge National Finals 21 20 Friday 6 7 8 St. Boniface School Reading Central Elementary 9 10 North College Hill Elementary Stock Market Game Portfolio Challenge Mother’s Day 11 12 Midway School Corryville Catholic School 18 19 13 Bond Hill Academy Winton Hills Academy 20 Memorial Day 26 North Avondale Montessori denotes school stores Frederick Douglass School Hays Porter Elementary 28 Amity Elementary 16 Armed Forces Day 17 Kilgour Elementary • 21 27 15 Market Madness Roberts Academy Rees E. Price Academy Holy Family Catholic School 25 14 • 22 Pleasant Ridge Montessori 29 23 24 30 31 Eden Grove Academy
  • 16. Opportunity CONNECTIONS TO THE COMMON CORE “Teachers benefit from taking a course from the Center because the course integrates financial education topics and economics with the Ohio Common Core (Mathematics, English Language Arts, and Social Sciences), making it easier to integrate financial literacy concepts into the subjects we are currently teaching.” – Rick Robisch, Norwood High School, Alpaugh Summer Institute Participant www.economicscenter.org
  • 17. National Safety Month June Sunday Monday 1 Tuesday Wednesday 2 3 4 9 10 Thursday 11 John Keynes’ birthday Friday Saturday 5 6 7 12 13 Flag Day 14 19 20 First Day of Summer 21 26 27 Weigel Elementary 8 Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program Father’s Day 15 Adam Smith’s birthday 16 17 18 Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program 22 23 24 25 28 Today’s Learners, Tomorrow’s Leaders (TL2) Summer Program 29 30 May 2014 S M T July 2014 5 6 T F S 1 4 W 2 3 7 8 9 10 6 S M T W T F 1 2 3 4 S 5 7 8 9 10 11 12 11 13 14 15 16 17 13 14 15 16 17 18 19 19 20 21 22 23 24 20 21 22 23 24 25 26 25 denotes school stores 12 18 26 27 28 29 30 31 27 28 29 30 31
  • 18. Excitement TODAY’S LEARNERS, TOMORROW’S LEADERS (TL2) This highly selective, three week summer program for high school students teaches the fundamentals of economic principles in a college course. It exposes students to the opportunities and careers that exist in Cincinnati, and is an exceptional college and career readiness program. www.economicscenter.org
  • 19. National Parks Month July Sunday Monday M T W T F S 1 2 3 4 5 6 9 10 11 12 13 Thursday 2 3 Friday Independence Day Saturday 4 5 7 8 Wednesday 1 June 2014 S Tuesday 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 27 28 29 30 31 26 Alfred Marshall’s birthday August 2014 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
  • 20. Competition VIRTUAL INVESTING, REAL-WORLD LEARNING, AND A PORTFOLIO CHALLENGE The Stock Market Game™ program is an online market simulation allowing students to manage a virtual stock portfolio and compete against other teams and schools regionally. This game teaches the fundamentals of investing. “SMG is easy to teach, easy to learn, and fun to do!” – Suzanne Lewis, Cincinnati Country Day, SMG Teacher www.economicscenter.org
  • 21. American Artist Appreciation Month August Sunday Monday July 2014 S M T W T F 1 2 3 4 7 8 9 10 11 S 12 13 14 15 16 17 18 21 22 23 24 25 26 27 28 29 30 Thursday Friday Saturday 1 2 Apply today for the Alpaugh Scholars Leadership Program. 19 20 Wednesday Back to school! Check out new teacher training opportunities. 5 6 Tuesday 31 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 National Women’s Equality Day 31 September 2014 S M T W T F 1 2 3 4 5 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 7 S
  • 22. Investment STUDENTS WITH THE WINNING PORTFOLIO EARN A TRIP TO NYC TO VISIT WALL STREET Winning teams visit the NYSE and the nation’s top investment firms such as Goldman Sachs, Legg Mason and Lazard. “I’m all about applied learning. If you handed kids a finance textbook, it would mean nothing to them. But when you have a stake in it and you have to use the information you are given, that’s when you’re really learning.” - Michael Barton, Stock Market Game Participant www.economicscenter.org
  • 23. National School Success Month September Sunday Monday August 2014 S M T W T Tuesday 1 2 7 8 9 14 15 16 21 22 28 29 Wednesday F S 1 Labor Day Thursday Friday Saturday 3 4 5 6 Patriot Day 10 11 12 13 Constitution Day 17 18 19 20 24 25 26 27 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Grandparent’s Day First Day of Autumn 23 30 October 2014 REMINDER: Stock Market Game starts in October. Register teams today! S M T W T F 1 2 3 S 4 11 5 Alpaugh Scholars Leadership Program Now accepting applications from education leaders. Visit www.economicscenter.org today! 6 7 8 9 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
  • 24. Leadership STUDENT ENTERPRISE (StEP) STUDENTS LEARN PRACTICAL SKILLS FOR A LIFETIME “StEP is one of those valuable programs for us. It allows us to tie our educational standards to situations that are real for our students, without taking up valuable class time. It sets up a positive incentive that is monitored by students themselves, which in turn does not create more work for the teachers. StEP gives me tools, many times over, to assist my students in becoming life-long learners.” -Teri Spindler, StEP Teacher Chase Elementary School www.economicscenter.org
  • 25. Financial Planning Month October Sunday Monday Tuesday Wednesday T Friday Saturday 1 S M T F 1 2 3 4 5 8 9 10 11 12 3 4 9 10 11 15 16 17 18 22 23 24 25 29 30 6 7 2 8 September 2014 W Thursday S 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 5 6 7 Stock Market Game 12 Columbus Day 13 14 Stock Market Game 19 20 21 Stock Market Game 26 27 28 Halloween 31 November 2014 S M T W T F S 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 1 Stock Market Game 30
  • 26. Experience FIRST TIME EXPERIENCE ON A COLLEGE CAMPUS For many students, participation in the Center’s programs provides an opportunity to visit the University of Cincinnati, tour the campus, and get excited about their future college career. www.economicscenter.org
  • 27. Native American Heritage Month November Sunday Monday Tuesday Wednesday Thursday Friday Saturday October 2014 S M T W T F 1 2 3 4 5 6 7 8 9 10 1 All Saints’ Day S 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Daylight Saving Time Ends 2 3 Election Day 4 5 6 7 8 12 13 14 15 19 20 21 22 27 28 29 Stock Market Game 9 10 Veteran’s Day 11 Stock Market Game 16 17 18 Stock Market Game 23 24 25 26 Thanksgiving Day Stock Market Game 30 December 2014 S M T W T F 1 2 3 4 5 S 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
  • 28. Inspiring COVER LARGEST PRIVATE GIFT to THE UNIVERSITY OF CINCINNATI FOR ECONOMIC EDUCATION Mr. Peter Alpaugh and the Alpaugh Family Foundation contributed $1 million to establish the online Alpaugh i-Learn Economics Education Program. “Educating our young people about economics is very important for the future of our country,” said Peter Alpaugh, member of the Center Board and President of Cincinnati Equitable Insurance. www.economicscenter.org
  • 29. Universal Human Rights Month December Sunday November 2014 T W T S M F S 2 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 2 29 Thursday Friday Saturday 3 4 5 6 10 11 12 13 18 19 20 26 27 22 23 1 Wednesday 15 16 Tuesday 8 9 Monday 1 Stock Market Game 30 Pearl Harbor Remembrance Day 7 8 9 Stock Market Game 14 First Day of Winter 15 21 22 23 Hanukkah Ends 24 28 29 30 New Year’s Eve 31 Hanukkah Begins 16 17 Christmas Day 25 Kwanzaa Begins January 2015 S M T W 4 5 6 7 T F S 1 2 3 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
  • 30. Individual Donors Gladys Aalbers Claudia Abercrumbie Mr. Peter A. Alpaugh Anonymous Linda Antus Ms. Ramona Beck Mr. & Mrs. David L. Belew Dr. Richard Brown Margaret Burks Diane & William Carney Laura Carr Samuel M. Cassidy John Castaldi Charlie Cerino Michael J. Conaton Dr. Alvin Crawford Kathleen C. Daly Mr. Gerald J. DeBrunner Mr. Brian Doyle Dr. Gigi Escoe Warren Falberg Michael & Maria Fox Mr. John J. Frank, Jr. Chris & Angela Habel Douglas & Diana Haskell Dr. Julie Heath Thomas D. Heekin Denice Hertlein Paul Hitter Barbara Johnson Honorable Nathaniel Jones Shannon Keesee Dr. Thomas Kessinger Mr. Marvin Kolodzik Adrijana & Stefan Kowatsch Dr. Valerie Krugh Margaret Lawson Mr. Robert Luby Ms. Claire Luby Mr. Sean McGrory Tom & Becki Meyer W. Troy Neat Robert C. Ortner, Jr. Thank you to our Contributors Atul Paradkar Lorrie Penner Mr. Barry Porter Jeff & Theda Rexhausen Mr. Gerald Robinson Mr. Wm. (Bill) T. Robinson III Mr. Tripp Rogers Mary A. Ronan Jim & Susan Russell Thomas R. Schiff Dr. Jennifer Shand Jaclyn Smith Jennifer Stein Dr. Kalyanasubbu Sundaravelu Carol G. Talbot Dr. Michael A. Thomas Woodrow Uible Ms. Margaret K. Valentine Dr. George M. Vredeveld Mr. and Mrs. John Westheimer Donald E. Weston Van & Robin White Mr. Casey Woodruff John H. Wyant Susan Zaunbrecher Business and Foundation Donors Al Neyer, Inc. The Alpaugh Family Foundation Anonymous The Asset Advisory Group Bahl & Gaynor Investment Counsel Bartlett & Co. Cassidy Turley Catholic Health Partners CENGAGE Learning Charles H. Dater Foundation Cincinnati Better Business Bureau Cincinnati Business Committee Cincinnati Financial Corporation The Cincinnati Insurance Companies Cincinnati Police FCU Cincinnati USA Regional Chamber Clark Schaefer Hackett & Co. Cooney Faulkner & Stevens, LLC Cornerstone Foundation Council for Economic Education Deloitte & Touche, LLP The E.W. Scripps Company Enquirer Media Executive Service Corps The Fifth Third Bank Financial Network Group Financial Planning Association of Greater Cincinnati First Financial Bank Fort Washington Investment Advisors, Inc. Frost Brown Todd, LLC Fund Evaluation Group The Health Foundation of Greater Cincinnati Helen Steiner Rice Foundation The Huntington National Bank Hispanic Chamber of Commerce USA Hixson, Inc. Horan Associates Jacob G. Schmidlapp Trusts, Fifth Third Bank, Trustee JD Cloud Company, LLP The John A. Schroth Family Charitable Trust, PNC Bank, Trustee Keating, Muething, & Klekamp Khoury Family Fund of The Greater Cincinnati Foundation KnowledgeWorks LPK Malcolm & Ruth Myers Fund of The Greater Cincinnati Foundation MCF Advisors Messer Construction Company National Underground Railroad Freedom Center NorthSide Bank and Trust Company Northwestern Mutual - The Kelley Financial Group OCG Telecom Ohio National Financial Services Openfield Creative Pepper Family Fund of The Greater Cincinnati Foundation PNC Bank Port of Greater Cincinnati Development Authority RCF Group Rhineland Foundation Riverpoint Capital Management Ruth J. and Robert A. Conway Foundation State Farm Insurance Strategic Medical Associates The Sutphin Family Foundation Taft, Stettinius & Hollister, LLP Techsolve, Inc. Towne Properties UBS University of Cincinnati University of Cincinnati, Carl H. Lindner College of Business University of Cincinnati, Carl H. Lindner College of Business Alumni Board of Governors US Bank Vehr Communications, LLC Western & Southern Financial Fund Wood, Herron & Evans, LLP The Zaring Family Foundation
  • 31. Board of Trustees Peter A. Alpaugh Cincinnati Equitable Insurance Douglas Bolton Cassidy Turley T. Brian Brockhoff Bailey Capital Partners Mark Cinquina PNC Real Estate Banking Richard O. Coleman NextLevel Transportation Services Michael J. Conaton The Midland Company Warren C. Falberg Cincinnati, OH Crystal L. Faulkner Cooney Faulkner & Stevens, LLC Michael Fox Deloitte & Touche, LLP John J. Frank, Jr. Cassidy Turley Christopher S. Habel Frost Brown Todd Terence L. Horan Horan Associates, Inc Adrienne James Sycamore Community Schools Shawn Kelley Northwestern Mutual Financial Network Lisa Kuethe Huntington Bank Margaret Lawson Taft Stettinius & Hollister, LLP Sean V. McGrory Clark, Schaefer, Hackett Howard McIlvain LPK William L. Neyer Al Neyer, Inc. Barry Porter Cincinnati, Ohio Jim Rigg Archdiocese of Cincinnati Advisory Board William T. (Bill) Robinson III Frost Brown Todd, LLC Mary Ronan Cincinnati Public Schools James Russell US Bank Andrew Sathe MCF Advisors Jennifer Stein Cincinnati, OH David M. Szymanski University of Cincinnati Carol G. Talbot Cincinnati, Ohio Howard J. Taragano Macy’s, Inc. Woodrow Uible Bartlett & Co. Margaret K. Valentine Valentine Research Nick Vehr Vehr Communications, LLC Roberta A. White Great Oaks Institute of Technology Susan Zaunbrecher Dinsmore & Shohl Edmund J. Adams Terrance L. Ashanta-Barker Michael D. Baker Thomas A. Barefield John F. Barrett David Belew J. Michael Brandt Lawrence H. Braun Diane C. Carney Samuel M. Cassidy Edward F. Castleberry Charles A. Cerino Raymond R. Clark Phillip R. Cox Kathleen C. Daly Richard K. Davis Michael A. Fisher J. Jeffrey Edmondson Jerry M. Galvin Bill O’Gara Victoria Gluckman Lawrence L. Grypp J. Joseph Hale, Jr. Carrie Hayden Tom Heekin Barbara B. Henshaw Robert L. Hoverson Thomas H. Humes David A. Jackson Jane Juracek-Reherman Donald Kaplan Ralph Katerberg Jan-Michele Lemon Kearney Kathleen L. Klink Charles P. Koch Marvin Kolodzik Pranav G. Kothari Donald D. Larson Charles D. Lindberg Gary Lindgren James M. Lippert Stephen MacConnell Donor Spotlight Ronald H. McSwain Juanita Mills Quentin Nesbitt Michael B. Packard Stan Pontius Ronald B. Raley Dale D. Rayney Jeff Rosen Fritz A. Russ Donald E. Schmidt James E. Schwab William P. Sheehan David O. Smith Timothy E. Stautberg Tom A. Steele Barbara J. Stonebraker Ellen G. van der Horst Michael A. Webb John R. Westheimer Donald E. Weston Harry M. Whipple Chad P. Wick Wayne R. Wickens Robert P. Wiwi John H. Wyant Allen G. Zaring The John A. Schroth Family Charitable Trust, PNC Bank, Trustee A special thank you for the generous contribution to the Economics Center. In December 2012, the PNC Bank awarded the Economics Center with a $15,000 grant from The John A. Schroth Family Charitable Trust for the development and implementation of our Money Savvy Kids Program. Money Savvy Kids trains elementary educators on how to implement the Council for Economic Education’s Financial Fitness for Life curriculum in their classrooms. Educators then deliver this curriculum to their students. In its inaugural year, 52 teachers participated in the program and in turn, 1,000 young students were equipped with the important foundations of economic and financial education. Money Savvy Kids is modeled after $mart Tennessee, which is an initiative Dr. Julie Heath, the Economics Center Executive Director, founded while at the University of Memphis. The Economics Center is currently pursuing funding to ensure another 50 educators can be recruited in the program next year.
  • 32. Support Your Economics Center 225 Calhoun Street, Suite 370 Cincinnati, OH 45219-0023 513.556.2948 www.economicscenter.org We’ve already taught economics and personal finance to 1,000,000 students. Will you help us reach the next 1,000,000? After three and a half decades of work, the Economics Center has trained thousands of teachers, developed countless classroom materials and teaching resources, and impacted one million students through innovative school programs that foster and support knowledge of the economy, entrepreneurship, and personal financial literacy. Rapid changes in our economy and the workplace demand a more contemporary set of skills from young individuals entering the workforce. Our work allows teachers to effectively equip their students with the skills they will need for life. Knowledge of economics and financial education has the power to transform one’s life and improve decision-making. It is with a focus on creating an informed future generation that we are laying a solid foundation for urban economic growth. To join our effort, please support the Center at www.economicscenter.org/give. Staff Julie Heath, PhD President and Director Adrijana Kowatsch Chief Operating Officer Jaclyn Smith Director, Marketing Brad Evans Director, Business Development Valerie Krugh, PhD Director, School Relations Stuart Wilson Research Associate Alicia Franklin StEP Store Facilitator Claire Luby Development Officer Casey Woodruff Director, Student and Community Relations Erin Harris Director, Student Enterprise (StEP) Lorrie Penner Executive Assistant Sue Heilmayer Accountant Jeff Rexhausen Senior Research Associate Michael Jones, PhD Director, Research Megan Ryan Research Associate