January 18, 2023

Carly Colombo
484-385-2934 (office)
[email protected]

Fredrick D. Schaufeld, Managing Director of SWaN & Legend Venture Partners, to Receive 2023 Horatio Alger Award 

Horatio Alger Association names 13 outstanding individuals, each of whom has overcome adversity to achieve professional and personal success, to its Member Class of 2023

WASHINGTON, D.C. (January 18, 2023) – Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that Fredrick Schaufeldmanaging director of SWaN & Legend Venture Partners, has been selected for membership in this prestigious organization. Mr. Schaufeld joins 12 other exceptional business, civic and cultural leaders from across North America in receiving 2023 honors. For 76 years, the Horatio Alger Award has been annually bestowed upon esteemed individuals who have succeeded despite facing adversities, and who have remained committed to higher education and charitable efforts in their communities. 

Born in Westbury, New York, Mr. Schaufeld went through his formative years in one of the most troubled and poorest performing school districts in the state. His mom helped support his family selling used cars. When he was 20, his father passed away while Mr. Schaufeld was a student at Lehigh University. This put a financial strain on his family, forcing him to meet with the school’s dean and share that he was no longer able to afford the rest of his education. The school stepped in to offer scholarships and loans to ensure Mr. Schaufeld would be able to complete his degree in government. While finishing school, he honed his business skills as concert chairman for Lehigh, hiring, promoting and running logistics for big-name entertainment acts like James Taylor, Journey and Rodney Dangerfield.

After graduating, Mr. Schaufeld moved back in with his mother and began working as a sales rep earning commissions to pay for law school at night. In 1983, he borrowed two loans from his brother’s friends and created his first company, National Electronics Warranty Corp. (N.E.W.), out of a studio apartment. In 2008, the company, which became the country’s largest provider of consumer product protection plans, serving clients like Best Buy, Walmart and DirecTV, merged with Asurion. Mr. Schaufeld then co-founded and become managing director of SWaN & Legend, a venture capital firm based in Virginia. The firm works with customer-service based companies in the retail, technology, education, food, hospitality, sports and entertainment industries. Mr. Schaufeld’s success led him to become partner at Monumental Sports & Entertainment, bringing him back to his college roots of operating and promoting events for sports teams in the Washington, D.C. area.

“Mr. Schaufeld navigated the loss of a parent and financial uncertainty, all while displaying tremendous commitment toward his education and learning the skills he would later need in his career,” said Terrence J. Giroux, executive director. “When he achieved his own success, he focused on providing for others in need through various endeavors, which showcases his true character. Mr. Schaufeld exemplifies the values that define our Association, we are honored to welcome him as a new Member.”

While leading N.E.W., Mr. Schaufeld created the NEW Charitable Foundation, which has supported more than 75 charitable organizations throughout the United States. Additionally, he and his wife, Karen, created the Fredrick D. and Karen G. Schaufeld Family Foundation to support arts, education, the environment, healthcare and international peace promotion organizations. Together, they have provided over $40 million to health systems in Northern Virginia, funded numerous scholarships for students in need to attend Mr. Schaufeld’s alma mater, Lehigh University and endowed the Emil & Grace Shihadeh Innovation Center to provide career and technical education to students in Winchester, Va. The couple also personally hosts scholarship students at their farm during summer vacations and school breaks and regularly contributes to programs assisting low-income school children.

“Throughout my career, I have been outspoken about the family and friends who have helped me along the way. Having a support system is an important component to one’s success,” said Mr. Schaufeld. “Giving back to others is a priority, especially to youth who have experienced hardships but persevered in spite of them. The Association’s work is close to my heart, and I look forward to being able to interact with even more students as they work toward their dreams.”

Since 1984, the Association has awarded annual need-based scholarships to high school students who have displayed dedication to pursuing higher education despite significant obstacles throughout their lives. The Association also aims to educate young people about the endless opportunities available by the free-enterprise system through commitment, honesty, and diligence. The scholarships are made possible through the Association thanks to the generosity of its Members, who will have collectively provided more than $245 million to 35,000 students by 2023.  

“Each year, it is our utmost honor to present outstanding leaders who have displayed extraordinary perseverance in overcoming challenges with the Horatio Alger Award,” said James F. Dicke II, chairman, Horatio Alger Association and 2015 Horatio Alger Award recipient. “Each of these incredible leaders has also shared their success with others, giving generously to important causes and communities in need. The 2023 awardees exemplify the Association’s mission and are proof that the American Dream is within reach for all who seek it.”

Mr. Schaufeld and the Member Class of 2023 will be formally inducted into the Association during the Horatio Alger Award Induction Ceremonies in Washington, D.C. from March 30 through April 1, 2023. The three-day event is an annual ceremony to honor both the achievements of Members and National Scholars, who will have multiple opportunities to meet, interact and exchange stories of perseverance. 

For more information about Horatio Alger Association and its Member Class of 2023, please visit and follow the organization on FacebookTwitter and Instagram

About Horatio Alger Association of Distinguished Americans:  

Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc. is dedicated to the simple but powerful belief that hard work, honesty and determination can conquer all obstacles. The Association honors the achievements of outstanding leaders who have accomplished remarkable successes in spite of adversity by bestowing upon them the Horatio Alger Award and inducting them as lifetime Members. Horatio Alger Members support promising young people with the resources and confidence needed to overcome adversity in pursuit of their dreams through higher education. Through the generosity of its Members and friends, in 2022, the Association awarded more than $16 million in undergraduate and graduate need-based scholarships to over 1,600 students across the United States and Canada, and provided college support and mentoring services to its Scholars. By the 40thanniversary of the Association’s scholarship program in 2024, more than $259 million will be awarded in undergraduate, graduate, military veteran and career and technical education scholarships to more than 37,000 deserving students. For more information, please visit