About
The Horatio Alger Association of Distinguished Americans, Inc. is a 501(c)(3) nonprofit educational organization headquartered in Alexandria, Virginia. Established in 1947, it honors leaders who have achieved remarkable success in spite of adversity with the Horatio Alger Award, and its Members fund need-based college scholarships for young people who have faced and overcome great obstacles.
Mission
The Association is dedicated to the belief that hard work, honesty and determination can conquer all obstacles. It was established in 1947 to dispel the mounting belief among the nation's youth that the American Dream was no longer attainable, and it continues to educate American and Canadian young people about the economic and personal opportunities afforded them through the two nations' free-enterprise systems.
What they do
- Bestows the annual Horatio Alger Award on men and women of outstanding achievement who overcame adversity, inducting them as lifetime Members of the Association
- Awards need-based undergraduate and graduate college scholarships across the United States and Canada, funded by its Members
- Provides college support and mentoring services to its Scholars
- Presents the Norman Vincent Peale Award and publishes research
History
The Association bears the name of author Horatio Alger, Jr., whose tales of overcoming adversity through perseverance and basic moral principles captivated the public in the late 19th century. Its founder, Dr. Kenneth Beebe, working in close association with Dr. Norman Vincent Peale, created the Association to recognize achievers as a reminder of the possibilities available through the free-enterprise system. In 2009 the Association incorporated the Horatio Alger Association of Canada so Canadian Members could develop scholarship programs for Canadian youth, and in 2011 it established the Horatio Alger Endowment Fund as a separate 501(c)(3) to endow its scholarships in perpetuity.
Scale and impact
According to the Association's website (as of 2023):
- Since 1947, more than 750 distinguished individuals have received the Horatio Alger Award and lifetime membership; there were more than 300 living Members, including ten from Canada
- Since the scholarship programs began in 1984, the Association has awarded more than $245 million in college scholarships to more than 35,000 students
- In 2022 it awarded $16 million in scholarships to 1,600 scholars, and it reported a $387 million scholarship endowment
Financials
Per Form 990 data on ProPublica Nonprofit Explorer, for the fiscal year ending December 2024 the Association reported revenue of $30,407,277 (96.9 percent from contributions), expenses of $34,027,086, and net assets of $12,964,647. The organization's EIN is 13-1669975, and its federal tax exemption was issued in October 1952.
