Horatio Alger Association Earns Coveted Four-Star Charity Navigator Rating for 6th Consecutive Year; Endowment Fund Receives First Four-Star Rating
FOR IMMEDIATE RELEASE
January 26, 2023
Horatio Alger Association Earns Coveted Four-Star Charity Navigator Rating for 6thConsecutive Year; Endowment Fund Receives First Four-Star Rating
WASHINGTON, D.C. (January 5, 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, has received two coveted four-star ratings from Charity Navigator, the largest independent evaluator of U.S. based charities. For the sixth consecutive year, the Association has been recognized for demonstrating strong financial health and a commitment to accountability and transparency. The Horatio Alger Association Endowment Fund also received a four-star rating in its first year of eligibility from the charity assessment organization.
Four stars is the highest possible rating and is awarded to charities who receive a score of 90 or higher out of 100. The score indicates that the both the Association and the Endowment Fund adhere to best practices in the nonprofit sector and are financially efficient. Additionally, a four-star rating signifies that an evaluated nonprofit exceeds industry standards and outperforms most charities in a similar line of work. Less than 17 percent of the charities evaluated by Charity Navigator receive the highest rating for five or more consecutive years.
“The Association is incredibly proud to receive another four-star rating from Charity Navigator, and we are equally as pleased that the Endowment Fund received its own highest ranking possible,” said Terrence Giroux, Executive Director, Horatio Alger Association. “These ratings are a testament to the continued good work of our Executive Committee, Board of Directors, Membership at large, leadership team and staff. We remain committed to exceeding industry standards, operating efficiently and furthering our reach and impact.”
Created in 2011, the Endowment Fund was incorporated as a separate 501(c)(3) to endow and ensure the Association’s scholarships in perpetuity. It features a seven-Member Board of Directors serving three-year terms.
“The Endowment Fund was evaluated under Charity Navigator’s accountability and finance criteria, and received a perfect 100,” said James F. Dicke II, chairman, Horatio Alger Association and 2015 Horatio Alger Award recipient. “More than 1.5 million American charities are assessed, and we are honored that both the Association overall and the Endowment Fund have earned this ranking that demonstrates our financial transparency and public trustworthiness.”
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 www.horatioalger.org.