Horatio Alger Association Of Distinguished Americans Inc

Organization Overview

Horatio Alger Association Of Distinguished Americans Inc is located in Alexandria, VA. The organization was established in 1952. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Horatio Alger Association Of Distinguished Americans Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Horatio Alger Association Of Distinguished Americans Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2020, Horatio Alger Association Of Distinguished Americans Inc generated $27.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $21.5m during the year ending 12/2020. While expenses have increased by 2.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Horatio Alger Association Of Distinguished Americans Inc has awarded 36 individual grants totaling $4,825,809. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE PRIMARY EXEMPT PURPOSE OF THE ASSOCIATION IS TWO FOLD : (1) TO PROVIDE SCHOLARSHIP ASSISTANCE TO HELP PROMISING HIGH SCHOOL STUDENTS (WHO FIT THE HORATIO ALGER PROFILE) ATTEND COLLEGE, AND (2) TO SPREAD THE MESSAGE THAT AMERICA'S FREE ENTERPRISE SYSTEM PROVIDES THE GREATEST OPPORTUNITIES IN THE WORLD FOR PERSONAL ACHIEVEMENT AND SUCCESS. THE ASSOCIATION WAS FOUNDED MORE THAN 70 YEARS AGO TO COMBAT A GROWING ATTITUDE AMONG YOUNG PEOPLE THAT ECONOMIC OPPORTUNITY WAS A THING OF THE PAST. THE ASSOCIATION STRIVES TO MOTIVATE AND EDUCATE OUR NATION'S YOUNG PEOPLE TO THE ECONOMIC AND PERSONAL OPPORTUNITIES AFFORDED THEM BY THE PROMISE OF THE AMERICAN FREE-ENTERPRISE SYSTEM. THE ASSOCIATION BRINGS THE "HORATIO ALGER HEROES" OF TODAY TOGETHER WITH THOSE OF TOMORROW BY BESTOWING THE HORATIO ALGER AWARD ANNUALLY; HOSTING CAREER, PUBLIC SERVICE, AND COMMUNITY SERVICE SEMINARS; SPONSORING FREE-ENTERPRISE FORUMS; AWARDING SCHOLARSHIPS EACH YEAR; AND PROVIDING AN INTERNSHIP PROGRAM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OTHER SCHOLARSHIP PROGRAMS INCLUDE THE INTERNSHIP AND EXTERNSHIP PROGRAM, THE COST OF SCHOLAR SERVICES, SUCH AS FINANCIAL ADVISING, THE ALUMNI ADVISORY COUNCIL, THE SCHOLARSHIP SELECTION COMMITTEE AND THE MEMBERS FORUM MEETINGS. THE ASSOCIATION ALSO OFFERS GRANTS TO SCHOLARS PURSUING GRADUATE STUDIES THROUGH THE DENNIS WASHINGTON GRADUATE GRANT PROGRAM.


STATE SCHOLARSHIPS ARE AWARDED TO PROVIDE FINANCIAL ASSISTANCE TO STUDENTS IN PARTICULAR STATES WHO HAVE EXHIBITED INTEGRITY AND PERSEVERANCE IN OVERCOMING PERSONAL ADVERSITY AND WHO ASPIRE TO PURSUE HIGHER EDUCATION. THE PROGRAMS ANNUALLY AWARD SCHOLARSHIPS RANGING FROM $2,500 TO $10,500 TO DESERVING STUDENTS, AS WELL AS PROVIDE EDUCATIONAL AND FINANCIAL COUNSELING TOWARDS OBTAINING A COLLEGE DEGREE.


MEMBER SUPPORT AND MEETINGS: THE ASSOCIATION CONVENES THE LIFETIME MEMBERS AND LIFE PARTNERS TO ADVANCE THE MISSION, PROGRAMS AND SERVICES OF THE ASSOCIATION ON A REGULAR BASIS INCLUDING, BUT NOT LIMITED TO, THE ANNUAL BOARD OF DIRECTORS MEETING, ANNUAL AWARDS WEEK IN WASHINGTON AND AT SPECIALIZED FORUMS, SUCH AS THE INTERNATIONAL FORUM, ALUMNI SUMMITS AND REGIONAL CONVENINGS. THESE ACTIVITIES INCLUDE ONGOING COMMUNICATIONS WITH MEMBERS, SUCH AS FORUM; THE BIENNIAL REPORT; ONLY IN AMERICA; AND OTHER ONLINE AND PRINTED MATERIALS THAT KEEP THE MEMBERS CONNECTED TO THE ASSOCIATIONS MISSION AND WORK.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Linder & Associates
Event Management
$552,717
The Red Bank Film Factory
Production, Scripting And Research
$471,271
Destin Productions Llc
Marketing Campaign For Tv
$330,000
Custom Management Group
Scholarship Review And Processing
$288,801
Brian Communications
Public Relations
$318,936
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$7,752,383
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$9,166,618
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$16,919,001
Total Program Service Revenue$28,995
Investment income $743,988
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$35,218
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $27,092,429

Grants Awarded

Over the last fiscal year, Horatio Alger Association Of Distinguished Americans Inc has awarded $300,000 in support to 2 organizations.

Grant RecipientAmount

FOSTER'S OUTRIDERS FOUNDATION

Org PageRecipient Profile

Jackson, WY

PURPOSE: EDUCATIONAL GRANT

$250,000

THE MORTEL FAMILY CHARITABLE FOUNDATION

Org PageRecipient Profile

Harrisburg, PA

PURPOSE: EDUCATIONAL GRANT

$50,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Horatio Alger Association Of Distinguished Americans Inc has recieved totaling $100,000.

Awarding OrganizationAmount
Penske Foundation Inc

Bloomfield Hills, MI

PURPOSE: GENERAL

$100,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$272,364,035
Earnings$29,541,150
Net Contributions$26,466,037
Grants$7,902,462
Ending Balance$320,468,760

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