Alpaughs back Family Economics Center at UC with $10M donation

Half a century ago, Walter “Pete” Alpaugh helped launch what would become the Alpaugh Family Economics Center at the University of Cincinnati. Today, his son, Peter Alpaugh, and Peter’s wife, Vicki, are carrying that legacy forward with a $10 million estate gift to the center, ensuring it can continue preparing students and teachers.

The Alpaugh Family Economics Center at UC has a mission to improve financial literacy and economic understanding for K-12 students, teachers and members of the community. It offers free educational tools like $martPath and StEP, alongside providing professional economic research and data analysis to regional and national clients.

“The Alpaugh Family Economics Center has been important to my family since the beginning,” Peter said. “My father believed strongly that understanding money and the economy helps young people make better choices throughout their lives. This planned gift is intended to honor that belief and to help ensure the center’s work continues for years to come.”

From Clifton classroom to global reach

The Alpaugh Family Economics Center reaches tens of thousands of Ohio students each year through programs in financial literacy, investing and entrepreneurship, while hundreds of teachers take part in professional development. Its $martPath online curriculum extends that reach globally, helping millions of students in more than 50 states and 80 countries develop essential financial and economic skills.

The center’s economic research team adds another layer of impact, providing analysis and insights to communities and organizations across Ohio to support smarter, data-driven decisions.

Walter “Pete” Alpaugh was one of the center’s original founders in 1976, and from the start, he and his family have been passionate about its mission: every child deserves access to financial and economic education that can change the trajectory of their lives.

In 2019, the center officially took the Alpaugh name, a recognition of decades of support. Over the years, the family contributed more than $6 million to UC, primarily supporting the center and the College of Education, Criminal Justice and Human Services. 

Peter and Vicki’s new $10 million donation will provide flexible resources for anything from program and staffing enhancements to technology upgrades.

“I have immense gratitude for Peter Alpaugh and his family’s longstanding partnership and dedication to our university and the Alpaugh Family Economics Center,” said UC President Neville G. Pinto. “This gift underscores Peter’s unwavering belief in the center’s programs and his genuine commitment to our region’s students and teachers.”

Peter’s involvement with the center is hands-on, not just financial. He attends the annual Market Madness event, engages with student entrepreneurs, and purchases products from student-run businesses. He also participates in teacher professional development workshops and serves on multiple board committees, regularly offering ideas to strengthen programs.

“Peter Alpaugh has always cared about this center in a way that goes far beyond philanthropy,” said Sue Heilmayer, the center’s co-executive director. “This planned gift reflects his values, his family’s legacy with the center and his belief in what this work makes possible for future generations.”

Adding to a record-setting run of giving

The Alpaughs’ latest financial support comes at a historic moment for UC philanthropy. Last year, donors gave more than $228 million to UC and UC Health, supporting scholarships, faculty, upgraded facilities and programs across Southwest Ohio. Multimillion-dollar gifts have flowed, marking a record-setting year for fundraising.

Donations like the Alpaughs’ – UC’s second $10 million-plus gift in the past two months – gain added impact through the University of Cincinnati Foundation, the private-sector arm that connects alumni, corporations and community partners to the school’s priorities.

Peter, a former UC Foundation trustee, understands that relationship firsthand. 

“He has been a tremendous supporter of our Bearcat family beyond his philanthropy too, sharing his knowledge, leadership and time,” said Rich Bundy, UC Foundation president.

Within this landscape of generosity, the Alpaugh family’s support, including this one, stands as a continuation of a family promise to UC and its mission to prepare students for real-world challenges. 

Reflecting on his and his wife’s latest contribution to UC, Peter said it’s about finishing what his dad started. And university and center leaders agree.

“We are honored by Peter’s trust and profoundly grateful for his continued confidence in us,” Heilmayer said.