Impact 100's Award a Huge Step Forward for Local Non-Profit

The Economics Center for Education & Research’s Student Enterprise Program is the proud recipient of the 2009 Impact 100 Grant. As one of two finalists, StEP received $103,000 to help expand its operations from 19 to 23 low income urban schools in the Cincinnati area. The award was received November 5, 2009. Serving the Economics Center’s overall mission of building a vibrant community by inspiring students to appreciate and use their economic freedom, StEP creates a simulated market economy in the classroom. The program teaches students about fiscal responsibility, financial choices, and the value of hard work.

Through its school stores, StEP provides incentives for students, grades 3-8, by allowing them to shop for items with money they’ve earned through attendance, academic work, and good behavior. By showing the rewards of good choices, these incentives give students a sense of control and purpose in their lives. The result of these programs is an increase in financial literacy and confidence in students as well as a strengthened awareness that they have choices in life. “Every child needs a little help, a little hope, and someone to believe in them,” says Dr. Valerie Krugh, StEP’s Director. “We’d like to believe these are provided to all children, but this isn’t always the case.”

This makes reaching out to low-income urban schools especially important for the StEP program. The Impact 100 Grant will allow StEP to extend its reach to more of these schools despite difficult economic times and the expenses involved in school stores and other programs. In addition to encouraging and empowering students through the school store program, StEP also offers a culminating annual event known as Market Madness. This event allows students to develop a product and market it to other students at a convention held in the spring. Last year, Market Madness served 1,350 students from 19 area schools and the StEP team is anticipating another successful event this spring.

Founded in 2001 by Wendy Steele, Impact 100 is an organization of women committed to improving the Greater Cincinnati area through the collective funding of grants to non-profits. In 2009, 206 women generously contributed $1,000 each to make these grants a reality.

“It’s a humbling thought that an organization would resonate with our ideas and provide us with the means to carry out our mission,” says Krugh. “The Impact 100 gift allows us to provide our services to three thousand more students in low income schools.”

###

The Economics Center for Education & Research is a not-for-profit organization affiliated with the University of Cincinnati. Our vision is to build a vibrant community by inspiring students to appreciate and use their economic freedom and opportunities. Our work in the community is carried out through educational outreach in local schools that enhances financial literacy and builds an entrepreneurial spirit in students.