Horatio Alger Association Of Distinguished Americans Inc
- Assets
- $58.4m
- Revenue
- $27.1m
- Investments
- $37.4m
- Employees
- 14
- Location
- Alexandria, VA
- Founding
- 10/1952
- Data as of
- 12/2020
- EIN
- 13-1669975
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.
Form
990
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terrence J Giroux Executive Director | Officer | 32.5 | $912,653 |
Constantine G Katsaraskis Director Strategic Initiat | 36.5 | $256,143 | |
John B Thornburg Chief Financial Officer | Officer | 32.5 | $219,038 |
Kristen R Law Director, Educational And | 37.5 | $188,841 | |
Margaret Slipek Manager Editorial Services | 34.5 | $168,333 | |
James Dicke Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Linder & Associates Event Management | 12/30/21 | $552,717 |
Custom Management Group Scholarship Review And Processing | 12/30/21 | $288,801 |
Brian Communications Public Relations | 12/30/21 | $318,936 |
The Red Bank Film Factory Production, Scripting And Research | 12/30/21 | $471,271 |
Destin Productions Llc Marketing Campaign For Tv | 12/30/21 | $330,000 |
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 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $291,553 |
| Grants and other assistance to domestic individuals. | $10,262,780 |
| Grants and other assistance to Foreign Orgs/Individuals | $669,618 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,252,833 |
| Compensation of current officers, directors, key employees. | $285,545 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $799,297 |
| Pension plan accruals and contributions | $66,099 |
| Other employee benefits | $115,221 |
| Payroll taxes | $78,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $119,372 |
| Fees for services: Accounting | $309,159 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,916,114 |
| Advertising and promotion | $420,881 |
| Office expenses | $426,266 |
| Information technology | $214,189 |
| Royalties | $0 |
| Occupancy | $293,931 |
| Travel | $231,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,309,488 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,175 |
| Insurance | $86,405 |
| All other expenses | $0 |
| Total functional expenses | $21,519,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,864,856 |
| Savings and temporary cash investments | $3,641,299 |
| Pledges and grants receivable | $11,577,304 |
| Accounts receivable, net | $50,083 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,323,704 |
| Net Land, buildings, and equipment | $457,465 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $37,359,763 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,462 |
| Total assets | $58,355,936 |
| Accounts payable and accrued expenses | $1,219,863 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,858,548 |
| Total liabilities | $34,078,411 |
| Net assets without donor restrictions | $11,144,903 |
| Net assets with donor restrictions | $13,132,622 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $58,355,936 |
Grants Awarded
Over the last fiscal year, Horatio Alger Association Of Distinguished Americans Inc has awarded $300,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Jackson, WY PURPOSE: EDUCATIONAL GRANT | $250,000 |
Harrisburg, PA PURPOSE: EDUCATIONAL GRANT | $50,000 |
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 Organization | Amount |
|---|---|
Penske Foundation Inc Bloomfield Hills, MI PURPOSE: GENERAL | $100,000 |
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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |