Formation | 1947 |
---|---|
Founders |
|
Type | 501(c)(3) |
Headquarters | Alexandria, Virginia, United States |
Key people | Byron Trott (CEO) |
Website | horatioalger |
The Horatio Alger Association of Distinguished Americans is a nonprofit organization based in Alexandria, Virginia, that was founded in 1947 to honor the achievements of outstanding Americans who have succeeded in spite of adversity and to emphasize the importance of higher education. The association is named for Horatio Alger, a 19th-century author of hundreds of dime novels in the "rags-to-riches" genre who extolled the importance of perseverance and hard work.
The association gives the annual Horatio Alger Award to exemplars of its ideals. It also grants scholarships and describes itself as the largest provider of need-based scholarships in the United States. [1] All scholarships are funded by the members of the Horatio Alger Association. As of 2023, the association had given "more than $245 million in college scholarships to roughly 35,000 students". [2]
According to tax filings, the association's mission is to provide college scholarships to "help promising high school students (who fit the Horatio Alger profile)". [3]
Furthermore, it seeks "to spread the message that America's free enterprise system provides the greatest opportunities in the world", and "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". [4]
The Horatio Alger Association has one of the largest, privately funded, need-based college scholarship programs in the United States. Scholarships offered include the National Scholarship, State Scholarships, and the Dennis R. Washington Achievement Scholarship.
The National Scholars Program was created in 1984 to help American high school seniors who had overcome adversity attend college. Over time, the Horatio Alger Association has expanded the program. Every year, the association awards more than 100 National scholarships to students from every U.S. state and Puerto Rico. Grants received by these National Scholars are valued at $25,000 each. Recipients are also given an all-expenses-paid trip to Washington, D.C. where they meet association members, attend the Horatio Alger Awards Ceremony, and learn about the federal government and the American free enterprise system. [5] Since its inception in 1984, the program has awarded more than $125 million in college scholarships.
In 2010, the association gave $20,000 in scholarships to 104 high school seniors. [6]
The association also operates a State Scholars program that gives scholarships to students in every state. Award amounts range from $2,500 to $10,500.
Alumni recipients of the scholarship are eligible to receive the Dennis R. Washington Achievement Scholarship. The scholarship is awarded to alumni who are seeking graduate and doctoral degrees. The program is funded by a $10 million grant from Horatio Alger member Dennis R. Washington and his wife, Phyllis. [7]
The association annually bestows the Horatio Alger Award on outstanding Americans who exemplify dedication, purpose, and perseverance in their personal and professional lives. Recipients have often achieved success in the face of adversity. Each award recipient becomes a lifetime member of the association.
The annual award series was inaugurated in 1947 by Kenneth Beebe of the American Schools and Colleges Association. [8] In 1946, he had given achievement awards to two New York City businessmen. In 1947, he renamed the award for Horatio Alger and made four awards to businessmen. [9] Recipients in subsequent years have included business and government leaders, athletes, entertainers, innovators, entrepreneurs, healers, teachers, artists, and writers who have overcome adversity and achieved great success. Approximately ten American awardees are announced each year. Additionally, each year since 2003, an International Horatio Alger Award has been presented to a citizen of another country who serves as a role model and embodies the ideals promoted by the association.
Notable awardees have included the following: [10]
On July 10, 2023, Business Insider reported that the association had been given unusual access to the Supreme Court of the United States courtroom by Justice Clarence Thomas, who holds annual induction ceremonies for new association members there. [16] On several occasions, Thomas has invited members and scholarship recipients to the Supreme Court.
On July 10, 2023, the Washington Post reported that it was through friendships made in the association that Thomas had been invited to "luxurious vacation retreats, VIP sections of National Football League games, and star-studded events". [17]
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Mario Joseph Gabelli is an American stock investor, investment advisor, and financial analyst. He is the founder, chairman, and CEO of Gabelli Asset Management Company Investors, an investment firm headquartered in Rye, New York. Forbes Magazine listed him as #1725 in December 2023 on the list of Billionaires, with a net worth of $1.7 billion US dollars. On January 10, 2000, Gabelli was inducted into the "Barron's All Century Team," their list of the most influential mutual fund industry portfolio managers. Mr. Gabelli was named an honorary member of Local 6 and the Hotel Trades Council in December 2019 and formally inducted into the Horatio Alger Association of Distinguished Americans on April 2–4, 2020, during the Association's 73rd Horatio Alger Award Induction Ceremonies in Washington, D.C.
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