HORATIO ALGER ASSN OF DISTINGUISHED AMERICANS INC

EIN: 131669975 501(c)(3) Education

ALEXANDRIA, VA

Total Revenue
$31,058,997
Total Expenses
$29,715,341
Total Assets
$40,756,109
Net Assets
$16,678,132
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Financial Trends

Organization Details

Formation Year
1951
Legal Domicile
NY
Principal Officer
JOHN THORNBURG
Phone
7036849444
Tax Period
2023-01-01 to 2023-12-31

HORATIO ALGER ASSN OF DISTINGUISHED AMERICANS INC, founded in 1951, is a mid-sized nonprofit in the Education sector that reported $31.1M in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $29.7M left a modest 4% surplus.

Mission

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.

Program Service Accomplishments

Program 1
Expenses: $10,314,660

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...

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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.

Program 2
Expenses: $8,263,708

MEMBERSHIP AND INDUCTION: THE HORATIO ALGER AWARD (THE AWARD) IS RECOGNIZED AS ONE OF THE NATION'S MOST PRESTIGIOUS HONORS. THE AWARD IS PRESENTED DURING THE ANNUAL MEMBERSHIP PROGRAM AND INDUCTION...

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MEMBERSHIP AND INDUCTION: THE HORATIO ALGER AWARD (THE AWARD) IS RECOGNIZED AS ONE OF THE NATION'S MOST PRESTIGIOUS HONORS. THE AWARD IS PRESENTED DURING THE ANNUAL MEMBERSHIP PROGRAM AND INDUCTION CEREMONIES HELD IN WASHINGTON, D.C., EACH YEAR DURING A MULTI-DAY PROGRAM FOR MEMBERS, LIFE PARTNERS AND FRIENDS OF DISTINCTION, HELD CONCURRENTLY WITH THE NATIONAL SCHOLARS' CONFERENCE. THE PROGRAMS FOCUS ON MEMBER ACHIEVEMENTS, INTERVIEWS WITH NEW MEMBERS, OPPORTUNITIES FOR MEMBER NETWORKING, MENTORING OF THE NATIONAL SCHOLARS AND EDUCATIONAL PROGRAMS REGARDING THE FUTURE OF THE AMERICAN DREAM.

Program 3
Expenses: $2,969,024

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...

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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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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $30,526,955
Program Service Revenue $15,324
Investment Income $516,718
Other Revenue $0
TOTAL REVENUE $31,058,997

Expense Breakdown

Grants Paid $8,683,754
Salaries & Benefits $3,172,508
Fundraising Expenses $440,412
Program Expenses $26,614,779
Other Expenses $17,859,079
TOTAL EXPENSES $29,715,341

Year-over-Year Comparison

2023 2022 Change
Revenue $31,058,997 $22,420,571 +0.4%
Expenses $29,715,341 $27,233,966 +0.1%
Net Income $1,343,656 $-4,813,395 -1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
75
Independent Members
75
Employees
14
Volunteers
75

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$2,202,991
Total Directors
75
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES F DICKE II CHAIRMAN 1.00
Officer Director
$0 $0 $0
GREGORY E ABEL PRESIDENT 1.00
Officer Director
$0 $0 $0
THE HON BARBARA M BARRETT VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN H WEILAND TREASURER 1.00
Officer Director
$0 $0 $0
MATTHEW K ROSE IMMEDIATE PAST CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOSEPH NEUBAUER CHAIRMAN EMERITUS 1.00
Director
$0 $0 $0
DAVID L SOKOL CHAIRMAN EMERITUS 1.00
Director
$0 $0 $0
BYRON D TROTT CHAIRMAN EMERITUS 1.00
Director
$0 $0 $0
DENNIS R WASHINGTON CHAIRMAN EMERITUS 1.00
Director
$0 $0 $0
V PREM WATSA HAAC PRESIDENT 1.00
Director
$0 $0 $0
MIKE JACKSON AT-LARGE MEMBER 1.00
Director
$0 $0 $0
LINDA D RABBITT AT-LARGE MEMBER 1.00
Director
$0 $0 $0
GLENN B STEARNS AT-LARGE MEMBER 1.00
Director
$0 $0 $0
CHRIS SULLIVAN AT-LARGE MEMBER 1.00
Director
$0 $0 $0
CHARLES C ANDERSON SR BOARD MEMBER 1.00
Director
$0 $0 $0
LEE R ANDERSON SR BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGE L ARGYROS SR BOARD MEMBER 1.00
Director
$0 $0 $0
WANDA M AUSTIN BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES W AYERS BOARD MEMBER 1.00
Director
$0 $0 $0
RONALD M BERGERON SR BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT J BROWN BOARD MEMBER 1.00
Director
$0 $0 $0
RITA LCASE BOARD MEMBER 1.00
Director
$0 $0 $0
LEON G COOPERMAN BOARD MEMBER 1.00
Director
$0 $0 $0
DON R DASEKE BOARD MEMBER 1.00
Director
$0 $0 $0
MARK E DAVIS BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM J DORE BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM F FARLEY BOARD MEMBER 1.00
Director
$0 $0 $0
SAM FOX BOARD MEMBER 1.00
Director
$0 $0 $0
TERRY M GILES BOARD MEMBER 1.00
Director
$0 $0 $0
JACK M GILL BOARD MEMBER 1.00
Director
$0 $0 $0
JOSEPH M GRANT BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM E GREEHEY BOARD MEMBER 1.00
Director
$0 $0 $0
EDMUND A HAJIM BOARD MEMBER 1.00
Director
$0 $0 $0
CRAIG HALL BOARD MEMBER 1.00
Director
$0 $0 $0
RONALD G HARRINGTON BOARD MEMBER 1.00
Director
$0 $0 $0
ALPHONSO R JACKSON BOARD MEMBER 1.00
Director
$0 $0 $0
MELVYN N KLEIN BOARD MEMBER 1.00
Director
$0 $0 $0
STANLEY KROENKE BOARD MEMBER 1.00
Director
$0 $0 $0
KENNETH G LANGONE BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICK P LEE BOARD MEMBER 1.00
Director
$0 $0 $0
GILBERT EDWARD LEVASSEUR JR BOARD MEMBER 1.00
Director
$0 $0 $0
CRAIG O MCCAW BOARD MEMBER 1.00
Director
$0 $0 $0
HOWARD M MEYERS BOARD MEMBER 1.00
Director
$0 $0 $0
LEE E MIKLES BOARD MEMBER 1.00
Director
$0 $0 $0
ALAN B MILLER BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT G MILLER BOARD MEMBER 1.00
Director
$0 $0 $0
VALERIE MONTGOMERY RICE BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN MULRONEY BOARD MEMBER 1.00
Director
$0 $0 $0
R JAMES NICHOLSON BOARD MEMBER 1.00
Director
$0 $0 $0
CLARENCE OTIS JR BOARD MEMBER 1.00
Director
$0 $0 $0
HARRY S PATTEN BOARD MEMBER 1.00
Director
$0 $0 $0
NIDO R QUBEIN BOARD MEMBER 1.00
Director
$0 $0 $0
ERNEST S RADY BOARD MEMBER 1.00
Director
$0 $0 $0
GREG P RENKER BOARD MEMBER 1.00
Director
$0 $0 $0
JEFFREY A RICH BOARD MEMBER 1.00
Director
$0 $0 $0
CARL H RICKER JR BOARD MEMBER 1.00
Director
$0 $0 $0
G BRINT RYAN BOARD MEMBER 1.00
Director
$0 $0 $0
T DENNY SANFORD BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT J SCHLEGEL BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHEN C SCHOTT BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES M SENEFF JR BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS JOSEPH SHANNON JR BOARD MEMBER 1.00
Director
$0 $0 $0
RONALD M SIMON BOARD MEMBER 1.00
Director
$0 $0 $0
EARL W STAFFORD SR BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID L STEWARD BOARD MEMBER 1.00
Director
$0 $0 $0
PETER WSTOTT BOARD MEMBER 1.00
Director
$0 $0 $0
MARCIA G TAYLOR BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID A THOMPSON BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGE A WEISS BOARD MEMBER 1.00
Director
$0 $0 $0
ANTHONY WELTERS BOARD MEMBER 1.00
Director
$0 $0 $0
SIDNEY D WOLK BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT L WRIGHT JR BOARD MEMBER 1.00
Director
$0 $0 $0
JORDAN ZIMMERMAN BOARD MEMBER 1.00
Director
$0 $0 $0
LOU DOBBS HONORARY BOARD MEMBER 1.00
Director
$0 $0 $0
CLARENCE THOMAS HONORARY BOARD MEMBER 1.00
Director
$0 $0 $0
TERRENCE J GIROUX EXECUTIVE DIRECTOR 27.50
Officer
$1,037,106 $454,573 $1,491,679
CONSTANTINE G KATSARASKIS DIRECTOR STRATETIC INITIAT 31.50
Officer
$329,397 $85,133 $414,530
JOHN B THORNBURG CHIEF FINANCIAL OFFICER 26.50
Officer
$247,609 $49,173 $296,782
KRISTEN R LAW DIRECTOR, EDUCATIONAL AND 37.50
Highest
$228,946 $48,448 $277,394
MARGARET SLIPEK MANAGER EDITORIAL SERVICES 33.50
Highest
$222,294 $49,596 $271,890
DEBRA J STANCIL MANAGER OF NOMINATIONS 36.50
Highest
$119,417 $51,380 $170,797
W AARON HOUSE ASSISTANT DIRECTOR OF SCHO 37.50
Highest
$148,883 $30,366 $179,249
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $31,058,997 $29,715,341 $40,756,109 $1,343,656
2022 $22,420,571 $27,233,966 $40,436,478 $-4,813,395
2021 $20,322,852 $23,262,312 $55,305,024 $-2,939,460
2020 $27,092,429 $21,519,354 $58,355,936 $5,573,075
2019 $29,843,129 $31,576,746 $55,150,866 $-1,733,617
2018 $34,599,955 $27,988,760 $57,232,159 $6,611,195
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