Overview
What is Horatio Alger Endowment Fund?
The Horatio Alger Endowment Fund is a philanthropic organization located in Alexandria, Virginia. Its primary mission is to support the educational and charitable initiatives of the Horatio Alger Association of Distinguished Americans, Inc. The Endowment Fund receives, holds, invests, and distributes funds to further benefit the Association's ongoing and future programs. In 2022, the Endowment Fund granted resources to the Association to bolster their scholarship and membership programs.
Official website here: www.horatioalger.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 97%, Four-Star out of Four Star rating.
The Horatio Alger Endowment Fund has achieved an impressive overall score of 97%, reflecting strong accountability and financial practices. The rating is based entirely on the charity's accountability and finance metrics, indicating a solid commitment to transparency and responsible management of resources. Notably, the organization boasts a fully independent board and has received top marks for its financial oversight and policies.
Strengths of the Horatio Alger Endowment Fund include a high program expense ratio of 77.31%, which indicates that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the organization shows exceptional fundraising efficiency and a favorable liabilities to assets ratio of just 0.14%, suggesting strong financial health and sustainability.
Despite these strengths, the summary does not indicate specific programmatic outcomes or narratives about the impact of their work, leaving some gaps in understanding the effectiveness of the charity's initiatives. Overall, the Horatio Alger Endowment Fund stands out for its financial integrity and governance, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Horatio Alger Endowment Fund legitimate?
Horatio Alger Endowment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Horatio Alger Endowment Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $289,297
Professional Fundraising Fees: $0
Other Salaries and Wages: $97,295
For more financial information, click here
Official website here: www.horatioalger.org
What is the mission statement of Horatio Alger Endowment Fund?
The Horatio Alger Endowment Fund exists to support educational and charitable initiatives. Its primary goal is to collect, manage, and distribute funds to the Horatio Alger Association of Distinguished Americans, Inc., with the objective of benefiting the Association's ongoing and future programs. During the year 2022, the Endowment Fund granted funds to the Horatio Alger Association to further their scholarship and membership programs.
Official website here: www.horatioalger.org
Who is the CEO of Horatio Alger Endowment Fund?
Terrence J Giroux is the Chairman of Horatio Alger Endowment Fund.
Official website here: www.horatioalger.org
What is the revenue of Horatio Alger Endowment Fund?
Horatio Alger Endowment Fund's revenue in 2022 was $41,403,763.
Official website here: www.horatioalger.org
Who are the executives of Horatio Alger Endowment Fund and what are their salaries?
There 7 volunteers at Horatio Alger Endowment Fund.
Here are 12 key members and their salaries:
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- Related: $5,090,087
- Other: $74,441
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- Related: $230,013
- Other: $44,469
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- Other: $32,289
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- Related: $187,243
- Other: $43,483
- Compensation: $0
- Related: $115,899
- Other: $48,753
Official website here: www.horatioalger.org
Where can I find the form 990 for Horatio Alger Endowment Fund?
Horatio Alger Endowment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.horatioalger.org
Learn more at the official website: www.horatioalger.org
Mission Statement of Horatio Alger Endowment Fund
The Horatio Alger Endowment Fund is a charitable organization dedicated to promoting educational purposes. In specific terms, it functions to collect, manage, and distribute funds towards the Horatio Alger Association of Distinguished Americans, Inc. (the "Association") to support the Association's ongoing and future programs. The main aim of the Horatio Alger Endowment Fund is to make a difference in people's lives by investing in the Association's initiatives.
During the year 2022, the Horatio Alger Endowment Fund made significant grants to the Horatio Alger Association of Distinguished Americans, Inc. These contributions were directed towards state and other scholarship programs and membership programs. By doing so, the Horatio Alger Endowment Fund has played a pivotal role in providing opportunities and support to those who may otherwise have faced financial challenges in their pursuit of higher education.
The Horatio Alger Endowment Fund's mission is rooted in the belief that education is a powerful tool for personal growth and development. By investing in the Horatio Alger Association of Distinguished Americans, it enables the organization to continue its important work of recognizing and empowering individuals who have faced adversity and persevered to achieve academic and professional success. The Horatio Alger Endowment Fund's commitment to education and charitable causes is a testament to its enduring dedication to making a meaningful impact on the lives of countless individuals.
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Impact
October, 2024
The Horatio Alger Endowment Fund has a significant impact on educational and charitable initiatives. By providing financial support to the Horatio Alger Association of Distinguished Americans, the Fund enhances existing programs and develops new opportunities that empower individuals through education. In 2022, its grants facilitated state and scholarship programs, targeting students who face financial hardships yet demonstrate perseverance and commitment to their education. This philanthropic activity fosters an environment where education becomes accessible, ultimately helping to uplift communities and promote social mobility. By prioritizing educational opportunities, the Fund plays a crucial role in transforming lives and building a brighter future for many aspiring individuals.
This information is meant to be a general summary of Horatio Alger Endowment Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $20,014,701
- Gross Receipts: $335,155,173
Assets and Liabilities:
- Total Assets: $307,856,993
- Total Liabilities: $449,732
- Net Assets: $307,407,261
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Organization Details
Founding Year
2010
Phone
(703) 684-9444Principal Officer
Terrence J Giroux
Main Address
99 CANAL CENTER PLAZA 320, ALEXANDRIA, VA, 22314
Website
www.horatioalger.orgNTEE Category
Code: B11 - Education
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