Civic Intelligence

Horatio Alger Endowment Fund

EIN 27-2480291 • 501(c)3 • Alexandria, VA

Profile

The purpose of the fund is to promote educational and charitable purposes, and in particular to receive, hold, invest and distribute funds to the horatio alger association of distinguished americans, inc. (the "association") for the benefit of the association's existing and future programs.

99 Canal Center Plaza 320Alexandria, VA 22314

www.horatioalger.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

4th percentile

0.01x

Higher debt load relative to revenue than 4% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

9th percentile

-17%

Higher net margin than 9% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

86th percentile

$2,264,177

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 16.5% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

52nd percentile

5.9%

Faster asset growth than 52% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Revenue Growth

4th percentile

-42%

Faster revenue growth than 4% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Assets

Up

$345,148,740

Up $15,150,295 (+4.6%) from 2023

Liabilities

Down

$132,969

Down $2,397,085 (-95%) from 2023

Net Assets

Up

$345,015,771

Up $17,547,380 (+5.4%) from 2023

Revenue

Up

$13,748,030

Up $1,151,117 (+9.1%) from 2023

Expenses

Up

$16,122,465

Up $618,019 (+4.0%) from 2023

Net Income

Up

-$2,374,435

Up $533,098 (+18%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2014: $154,408,993Liabilities 2014: $1,735,318Net Assets 2014: $152,673,6752014Assets 2015: $172,801,961Liabilities 2015: $1,888,795Net Assets 2015: $170,913,1662015Assets 2016: $186,483,508Liabilities 2016: $43,368Net Assets 2016: $186,440,1402016Assets 2017: $233,703,452Liabilities 2017: $342,830Net Assets 2017: $233,360,6222017Assets 2018: $221,540,912Liabilities 2018: $123,101Net Assets 2018: $221,417,8112018Assets 2019: $251,574,080Liabilities 2019: $297,306Net Assets 2019: $251,276,7742019Assets 2020: $274,481,369Liabilities 2020: $23,250Net Assets 2020: $274,458,1192020Assets 2021: $322,951,010Liabilities 2021: $25,529Net Assets 2021: $322,925,4812021Assets 2022: $307,856,993Liabilities 2022: $449,732Net Assets 2022: $307,407,2612022Assets 2023: $329,998,445Liabilities 2023: $2,530,054Net Assets 2023: $327,468,3912023Assets 2024: $345,148,740Liabilities 2024: $132,969Net Assets 2024: $345,015,7712024

Highlighted filing

2024

Assets$345,148,740
Liabilities$132,969
Net Assets$345,015,771

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MRevenue 2014: $31,694,668Expenses 2014: $6,079,963Net Income 2014: $25,614,7052014Revenue 2015: $36,374,870Expenses 2015: $9,260,321Net Income 2015: $27,114,5492015Revenue 2016: $14,006,271Expenses 2016: $7,820,524Net Income 2016: $6,185,7472016Revenue 2017: $43,388,283Expenses 2017: $12,501,783Net Income 2017: $30,886,5002017Revenue 2018: $20,899,848Expenses 2018: $8,665,226Net Income 2018: $12,234,6222018Revenue 2019: $27,173,917Expenses 2019: $11,348,007Net Income 2019: $15,825,9102019Revenue 2020: $16,840,883Expenses 2020: $8,944,491Net Income 2020: $7,896,3922020Revenue 2021: $58,271,352Expenses 2021: $8,352,050Net Income 2021: $49,919,3022021Revenue 2022: $41,403,763Expenses 2022: $7,017,611Net Income 2022: $34,386,1522022Revenue 2023: $12,596,913Expenses 2023: $15,504,446Net Income 2023: -$2,907,5332023Revenue 2024: $13,748,030Expenses 2024: $16,122,465Net Income 2024: -$2,374,4352024

Highlighted filing

2024

Revenue$13,748,030
Expenses$16,122,465
Net Income-$2,374,435

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$257,711,127
Mission and Program Overview

Mission

The purpose of the fund is to promote educational and charitable purposes, and in particular to receive, hold, invest and distribute funds to the horatio alger association of distinguished americans, inc. (the "association") for the benefit of the association's existing and future programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$10,009,621$161,665,489▲ $151,655,868
Investments in Publicly Traded Securities$285,665,659$137,709,117▼ $147,956,542
Savings and Temporary Cash Investments$21,605,631$33,672,558▲ $12,066,927
Pledges and Grants Receivable$9,388,336$5,333,561▼ $4,054,775
Cash and Non-Interest-Bearing Accounts$185,000$2,304,038▲ $2,119,038
Intangible Assets-$677,085-
Prepaid Expenses and Deferred Charges$952,766$16,840▼ $935,926
Total Assets$329,998,445$345,148,740▲ $15,150,295
Other Assets Total$2,191,432$3,770,052▲ $1,578,620
Liabilities
Other Liabilities$2,475,875$0▼ $2,475,875
Accounts Payable and Accrued Expenses$54,179$132,969▲ $78,790
Total Liabilities$2,530,054$132,969▼ $2,397,085
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$312,372,262$333,950,568▲ $21,578,306
Net Assets With Donor Restrictions$15,096,129$11,065,203▼ $4,030,926
Total Net Assets Fund Balance$327,468,391$345,015,771▲ $17,547,380
Total Liabilities and Net Assets / Fund Balance$329,998,445$345,148,740▲ $15,150,295

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$18,534,253--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$325,789,559$4,481,714▲ $28,202,327-$342,990,620
2023$305,935,999$4,603,866▲ $30,245,794-$325,789,559
2022$320,468,760$19,564,133▼ $31,005,688-$305,935,999
2021$272,364,035$26,466,037▲ $29,541,150-$320,468,760
2020$252,262,548$4,440,305▲ $24,288,982-$272,364,035
Compensation and Service Providers

Board Members and Trustees

NameTitle
Leon CoopermanChairman
James SeneffPresident
Calvin SissonDirector
Dennis WashingtonDirector
Michael RollinsDirector
Stanley KroenkeDirector
Terrence J GirouxExecutive Director
Lesley Albanese Beg 042024Chief Executive Officer
John B ThornburgChief Financial Officer
Constantine G KatsaraskisChief Operating Officer
Debra J StancilManager of Nominations
Don DasekeSecretary
John WeilandTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mercer INCInvestment Management Services21875 NETWORK PLACE, Chicago, IL 60673$121,437
Dolan Mceniry Capital ManagementInvestment Management Services120 N LASALLE STREET, Chicago, IL 60602$107,234
Revenue and Support

Revenue Composition

Contributions and Grants
$4,886,375
Program Service Revenue
$0
Investment Income
$8,861,655
Other Revenue
$0
All Other Contributions
$4,886,375
Change in Net Assets
$-2,374,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$11,779,287
Other Expenses$3,621,175
Salaries, Compensation, and Employee Benefits$722,003
Total Fundraising Expense$12,155
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$11,779,287--$11,779,287
Fees for Service Investment Mgmnt Fees-$688,104-$688,104
Advertising$664,346--$664,346
Current Officers, Directors, Trustees, and Key Employees$65,607$417,563$6,834$490,004
Conferences and Meetings$307,492$36,112-$343,604
Depreciation Depletion$285,296--$285,296
Fees for Services Other$102,096$131,793$50$233,939
Other Salaries and Wages$22,597$143,822$2,354$168,773
Fees for Services Accounting-$81,701-$81,701
Information Technology$5,578$50,267$581$56,426
Occupancy$6,007$37,461$613$44,081
Other Expenses$5,592$33,605$550$39,747
Payroll Taxes$3,777$24,036$393$28,206
Office Expenses$11,077$16,867$213$28,157
Other Employee Benefits$2,889$18,385$301$21,575
Travel$15,405$4,752$78$20,235
Pension Plan Contributions$1,800$11,457$188$13,445
Insurance$1,329--$1,329
Fees for Services Legal-$347-$347
Total Functional Expenses$14,115,129$1,995,181$12,155$16,122,465
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Horatio Alger Assn of Distinguished Americans IncAlexandria, VA501(c)(3)Transfers to Supported Organization$11,779,287
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

The haef bylaws and articles of incorporation give the haada board the power (which it exercises via its nominating committee) to appoint the majority of the haef board members.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the fund's executive management and board of directors

Form 990, Part VI, Section B, Line 12C

All board members and employees are asked to comply with the written policy by disclosing any business transaction in which board member, staff or their families have a financial interest to the full board. Executive director personally monitors activities of members to assure compliance.

Form 990, Part VI, Section B, Line 15

The executive director's compensation is set by the board of directors after receiving a study of comparable organizations by willis towers watson (wtw). The review includes salary and benefits. All other positions are evaluated by wtw periodically, and they provide the association with a study of comparable positions and salary ranges for every job title on the staff.

Form 990, Part VI, Section C, Line 19

The organization makes available its governing documents, conflict of interest policy and financial statements only upon request.

Filing and Contact Details

Filer

Filer Name
Horatio Alger Endowment Fund
EIN
27-2480291
Phone
7036849444
Address
99 CANAL CENTER PLAZA 320, ALEXANDRIA, VA 22314

Signing Officer

Name
Lesley Albanese
Title
Chief Executive Officer
Phone
7036849444
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lesley Albanese
Formed
2010
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Sikich LLC
Address
333 JOHN CARLYLE STREET SUITE 500, ALEXANDRIA, VA 22314
Preparer
Andy Powell
Phone
7038361350
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

There was no change in the process for overseeing the audit for the prior year.

Financial Statement Notes

PART V, LINE 4:

The endowment funds are used to fund undergraduate and graduate scholarships in honor of horatio alger members at the national, state levels and within canada. They are also used to advance the association's national visibility initiatives through public service advertising, concerts, and communications program which should ultimately assist in raising visibility and increase contributions.

PART X, LINE 2:

Horatio, the fund and friends have been recognized as exempt from federal income taxes by the internal revenue service under section 501 (c)(3) of the internal revenue code, and each has been classified as an organization that is not-a-private foundation. None had net unrelated business income tax during the year ended december 31, 2024. Management evaluated the tax positions and concluded that horatio, the fund and friends have taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt12131476
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MANAGER OF NOMINATIONS
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02010
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IRS990/InformationTechnologyGrp/FundraisingAmt0581
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0161665489
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0THE PURPOSE OF THE FUND IS TO PROMOTE EDUCATIONAL AND CHARITABLE PURPOSES, AND IN PARTICULAR TO RECEIVE, HOLD, INVEST AND DISTRIBUTE FUNDS TO THE HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS, INC. (THE "ASSOCIATION") FOR THE BENEFIT OF THE ASSOCIATION'S EXISTING AND FUTURE PROGRAMS.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0301
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt018385
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02889
IRS990/OtherEmployeeBenefitsGrp/TotalAmt021575
IRS990/OtherExpensesGrp/Desc0PRODUCTION AND AUDIO VI
IRS990/OtherExpensesGrp/Desc1BAD DEBT
IRS990/OtherExpensesGrp/Desc2OTHER
IRS990/OtherExpensesGrp/FundraisingAmt0550
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08715
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IRS990/OtherExpensesGrp/TotalAmt1290194
IRS990/OtherExpensesGrp/TotalAmt239747
IRS990/OtherLiabilitiesGrp/BOYAmt02475875
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt02354
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0168773
IRS990/OtherWebsiteInd0X
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0393
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt024036
IRS990/PayrollTaxesGrp/ProgramServicesAmt03777
IRS990/PayrollTaxesGrp/TotalAmt028206
IRS990/PensionPlanContributionsGrp/FundraisingAmt0188
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt011457
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01800
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt09388336
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0LESLEY ALBANESE
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IRS990/ProgSrvcAccomActy2Grp/Desc0NATIONAL SCHOLARS' VISIBILITY: THROUGH DEDICATED AMBASSADORS AND SPECIAL EVENTS, THE ASSOCIATION ENDEAVORS TO ESTABLISH CONNECTIONS WITH EDUCATIONAL PROFESSIONALS (SCHOOL PRINCIPALS, GUIDANCE COUNSELORS, TEACHERS AND OTHER NONPROFIT ORGANIZATIONS) FOR THE PURPOSE OF IDENTIFYING STUDENTS BEST MATCHING THE ASSOCIATION'S SPECIAL CRITERIA FOR ITS SCHOLARSHIP PROGRAMS. THESE ACTIVITIES ALSO SERVE AS PUBLIC SERVICE ANNOUNCEMENTS HIGHLIGHTING THE ASSOCIATION'S MISSION THAT SUCCESS IS AVAILABLE TO THOSE DEDICATED TO THE PRINCIPLES OF INTEGRITY, HARD WORK, PERSEVERANCE AND COMPASSION FOR OTHERS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02328759
IRS990/ProgSrvcAccomActy3Grp/Desc0MEMBER SUPPORT AND MEETINGS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0IN ITS DETERMINATION LETTER TO THE HORATIO ALGER ENDOWMENT FUND (THE "FUND"), DATED AUGUST 30, 2010, THE INTERNAL REVENUE SERVICE ("IRS") STATED, AMONG OTHER THINGS, THAT THE IRS HAD DETERMINED THAT THE FUND IS A TYPE 2 SUPPORTING ORGANIZATION UNDER INTERNAL REVENUE CODE ("IRC") SECTION 590(A)(3). THE MANNER IN WHICH THE FUND SATISFIES THE TYPE II SUPPORTING ORGANIZATION "RELATIONSHIP TEST" IS SET FORTH BELOW, AND WAS SET FORTH IN THE FUND'S FORM 1023, DATED JULY 6, 2010, ON WHICH THE IRS'S DETERMINATION LETTER WAS BASED. THERE HAVE BEEN NO CHANGES TO THE MANNER IN WHICH THE FUND OPERATES IN THIS REGARD SINCE THE FUND FILED ITS FORM 1023. IN ACCORDANCE WITH ARTICLE 2 OF THE FUND'S ARTICLES OF INCORPORATION, THE FUND SUPPORTS ONE ORGANIZATION: THE HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS, INC., A NONPROFIT MEMBERSHIP CORPORATION AND PUBLIC CHARITY UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) (THE "ASSOCIATION"). IN ACCORDANCE WITH ARTICLE 7 OF THE FUND'S BYLAWS A MAJORITY OF DIRECTORS ON THE FUND'S BOARD OF DIRECTORS MUST ALSO BE MEMBERS OF THE ASSOCIATION ("MEMBER DIRECTORS"): REMAINING DIRECTORS MAY BE (BUT ARE NOT REQUIRED TO BE) NON-MEMBERS OF THE ASSOCIATION ( "NON-MEMBER DIRECTORS"). NOMINATIONS FOR THE FUND'S DIRECTORS ARE PUT FORTH BY THE ASSOCIATION'S NOMINATING COMMITTEE AND CONFIRMED BY A PLURALITY OF THEN SITTING FUND DIRECTORS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1:
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS INC
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00

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