HORATIO ALGER ASSN OF DISTINGUISHED AMERICANS INC Charity Report

Public IRS 990 nonprofit record

HORATIO ALGER ASSN OF DISTINGUISHED AMERICANS INC

EIN 13-1669975 · Education (B82Z)

What they do

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 AMERICAS 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 NATIONS 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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $91.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders90 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

102.05%of revenue went to mission work91.2% of expenses · Program services

2.04%of revenue went to fundraising1.8% of expenses

$111.90spent for every $100 of revenueSpending was higher than revenue this year.

7.81%of revenue went to management and office costs7.0% of expenses

$1.17in assets for every $1 spent this yearSome assets cannot be spent right away.

96.9%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $3,619,809 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $2,264,177 for TERRENCE J GIROUX (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$30,407,277

Mission workProgram services$31,030,089102.05% of revenue91.2% of expenses

ManagementOffice and general costs$2,375,7517.81% of revenue7.0% of expenses

FundraisingAsking for donations$621,2462.04% of revenue1.8% of expenses

Total expenses$34,027,086111.90% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 91.2% mission · 7.0% management · 1.8% fundraisingTotal expenses: 111.90% of revenue

2023Expense mix: 89.6% mission · 9.0% management · 1.5% fundraisingTotal expenses: 95.67% of revenue

2022Expense mix: 88.5% mission · 9.0% management · 2.5% fundraisingTotal expenses: 121.47% of revenue

2021Expense mix: 91.7% mission · 7.0% management · 1.3% fundraisingTotal expenses: 114.46% of revenue

2020Expense mix: 91.3% mission · 7.4% management · 1.3% fundraisingTotal expenses: 79.43% of revenue

2019Expense mix: 93.3% mission · 5.9% management · 0.7% fundraisingTotal expenses: 105.81% of revenue

2018Expense mix: 95.6% mission · 3.7% management · 0.7% fundraisingTotal expenses: 80.89% of revenue

2017Expense mix: 94.7% mission · 4.5% management · 0.8% fundraisingTotal expenses: 88.47% of revenue

Money in and money out

Revenue$30,407,277

Expenses$34,027,086

Annual shortfall $3,619,809 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$31,030,089 · 91.2% of expenses

Management and office costs$2,375,751 · 7.0% of expenses

Fundraising$621,246 · 1.8% of expenses

See all reported dollar amounts

Revenue$30,407,277

Expenses$34,027,086

Assets$39,708,136

Income$39,955,603

Contributions$29,459,059

Mission work (program services)$31,030,089

Fundraising$621,246

Grants given$4,909,174

Average grant$204,549

Management and general$2,375,751

Executive compensation (total)$16,865,048

Accounting fees$329,730

Investing fees$32,949

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

TERRENCE J GIROUXEXECUTIVE DIRECTOR · 28 hrs/week $2,264,177Base $834,795 · Other $1,429,382

CONSTANTINE G KATSARASKISCHIEF OPERATING OFFICER · 32 hrs/week $622,898Base $357,955 · Other $264,943

LESLEY ALBANESE BEG 042024CHIEF EXECUTIVE OFFICER · 28 hrs/week $452,270Base $438,461 · Other $13,809

JOHN B THORNBURGCHIEF FINANCIAL OFFICER · 26 hrs/week $309,449Base $259,791 · Other $49,658

KRISTEN R LAWDIRECTOR, EDUCATIONAL AND · 38 hrs/week $286,586Base $239,572 · Other $47,014

W AARON HOUSEASSISTANT DIRECTOR OF SCHO · 38 hrs/week $183,710Base $151,823 · Other $31,887

DEBRA J STANCILMANAGER OF NOMINATIONS · 36 hrs/week $166,868Base $131,476 · Other $35,392

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (90)

TERRENCE J GIROUXEXECUTIVE DIRECTOR

CONSTANTINE G KATSARASKISCHIEF OPERATING OFFICER

LESLEY ALBANESE BEG 042024CHIEF EXECUTIVE OFFICER

JOHN B THORNBURGCHIEF FINANCIAL OFFICER

KRISTEN R LAWDIRECTOR, EDUCATIONAL AND

W AARON HOUSEASSISTANT DIRECTOR OF SCHO

DEBRA J STANCILMANAGER OF NOMINATIONS

LOU DOBBSHONORARY BOARD MEMBER

RITA LCASEBOARD MEMBER

RICHARD J STEPHENSONBOARD MEMBER

R JAMES NICHOLSONBOARD MEMBER

PETER WSTOTTBOARD MEMBER

PATRICK P LEEBOARD MEMBER

NIDO R QUBEINAT-LARGE MEMBER

MIKE JACKSONAT-LARGE MEMBER

MELVYN N KLEINBOARD MEMBER

MATTHEW K ROSEIMMEDIATE PAST CHAIRMAN

MARK E DAVISBOARD MEMBER

MARCIA G TAYLORBOARD MEMBER

ROBERT J SCHLEGELBOARD MEMBER

LINDA D RABBITTAT-LARGE MEMBER

LEON G COOPERMANBOARD MEMBER

LEE R ANDERSON SRBOARD MEMBER

LEE E MIKLESBOARD MEMBER

KEITH T KOENIGBOARD MEMBER

JOSEPH M GRANTBOARD MEMBER

SIDNEY D WOLKBOARD MEMBER

WILLIAM J DOREBOARD MEMBER

WILLIAM F FARLEYBOARD MEMBER

WANDA M AUSTINAT-LARGE MEMBER

VALERIE MONTGOMERY RICEBOARD MEMBER

V PREM WATSAHAAC PRESIDENT

THOMAS JOSEPH SHANNON JRBOARD MEMBER

TERRY M GILESBOARD MEMBER

T DENNY SANFORDBOARD MEMBER

STEPHEN C SCHOTTHONORARY BOARD MEMBER

STANLEY KROENKEBOARD MEMBER

ROBERT G MILLERBOARD MEMBER

SAM FOXHONORARY BOARD MEMBER

RONALD M BERGERON SRBOARD MEMBER

RONALD M SIMONBOARD MEMBER

RONALD J KRUSZEWSKIBOARD MEMBER

RONALD G HARRINGTONBOARD MEMBER

ROGER S PENSKEBOARD MEMBER

ROBERT L WRIGHT JRBOARD MEMBER

JORDAN ZIMMERMANBOARD MEMBER

ROBERT J BROWNBOARD MEMBER

CLARENCE OTIS JRBOARD MEMBER

EDMUND A HAJIMBOARD MEMBER

DONALD T BOYSIE BOLLINGERBOARD MEMBER

DON R DASEKEBOARD MEMBER

DENNIS R WASHINGTONCHAIRMAN EMERITUS

DAVID L STEWARDBOARD MEMBER

DAVID L SOKOLCHAIRMAN EMERITUS

DAVID A THOMPSONBOARD MEMBER

DAVID HOFFMANNBOARD MEMBER

CRAIG O MCCAWBOARD MEMBER

CRAIG HALLBOARD MEMBER

ERNEST S RADYBOARD MEMBER

CLARENCE THOMASHONORARY BOARD MEMBER

CHRIS SULLIVANAT-LARGE MEMBER

CHARLES C ANDERSON SRBOARD MEMBER

CARL H RICKER JRBOARD MEMBER

BYRON D TROTTCHAIRMAN EMERITUS

BRIAN MULRONEYBOARD MEMBER

BARBARA M BARRETTVICE PRESIDENT

ARTHUR J FALCONEBOARD MEMBER

ANTHONY WELTERSBOARD MEMBER

ALPHONSO R JACKSONBOARD MEMBER

HARRY S PATTENBOARD MEMBER

ALAN B MILLERHONORARY BOARD MEMBER

JOHN H WEILANDTREASURER

JOHN C MAXWELLBOARD MEMBER

JEFFREY A RICHBOARD MEMBER

JAMES W AYERSBOARD MEMBER

JAMES M SENEFF JRHAEF PRESIDENT

JAMES F DICKE IICHAIRMAN

JAMES B FREEDMANBOARD MEMBER

JACK M GILLBOARD MEMBER

HOWARD M MEYERSBOARD MEMBER

JOSEPH NEUBAUERCHAIRMAN EMERITUS

HAROLD HAMMBOARD MEMBER

GREGORY E ABELPRESIDENT

GREG P RENKERBOARD MEMBER

GLENN B STEARNSAT-LARGE MEMBER

GILBERT EDWARD LEVASSEUR JRBOARD MEMBER

GEORGE L ARGYROS SRCHAIRMAN EMERITUS

GEORGE A WEISSBOARD MEMBER

G BRINT RYANBOARD MEMBER

FREDRICK D SCHAUFELDBOARD MEMBER

About this charity

Recognized since: January 1952
Location: 99 CANAL CENTER PLZ STE 320, ALEXANDRIA, VA 22314-1588
County: City of Alexandria
In care of: LESLEY ALBANESE
Primary officer: LESLEY ALBANESE, CHIEF EXECUTIVE OFFICER

How to reach them

WebsiteVisit the charity’s website Emailassociation@horatioalger.org Phone(703) 684-9444

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: SIKICH LLC
NTEE classification: Education (B82Z)
IRS tax category: Civic and Social Organizations
Grant-giving organization: Yes