Civic Intelligence

Horatio Alger Endowment Fund

990 • Fiscal year 2023 • EIN 27-2480291

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileWWW.HORATIOALGER.ORG
99 Canal Center Plaza 320Alexandria, VA 22314

(703) 684-9444

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

6th percentile

0.01x

Higher debt load relative to assets than 6% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

21st percentile

0.20x

Higher debt load relative to revenue than 21% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

9th percentile

-23%

Higher net margin than 9% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

72nd percentile

$1,491,679

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 11.8% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

62nd percentile

7.2%

Faster asset growth than 62% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-70%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$329,998,445

Up $22,141,452 (+7.2%) from 2022

Net Assets

Up

$327,468,391

Up $20,061,130 (+6.5%) from 2022

Liabilities

Up

$2,530,054

Up $2,080,322 (+463%) from 2022

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin9th percentile

Revenue

Down

$12,596,913

Down $28,806,850 (-70%) from 2022

Expenses

Up

$15,504,446

Up $8,486,835 (+121%) from 2022

Net Income

Down

-$2,907,533

Down $37,293,685 (-108%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2023

Assets$329,998,445
Liabilities$2,530,054
Net Assets$327,468,391
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$12,596,913
Expenses$15,504,446
Net Income-$2,907,533
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$397,955,368
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 in Publicly Traded Securities$263,173,069$285,665,659▲ $22,492,590
Savings and Temporary Cash Investments$20,841,204$21,605,631▲ $764,427
Investments Other Securities$8,665,595$10,009,621▲ $1,344,026
Pledges and Grants Receivable$11,934,984$9,388,336▼ $2,546,648
Prepaid Expenses and Deferred Charges-$952,766-
Cash and Non-Interest-Bearing Accounts$1,250,001$185,000▼ $1,065,001
Total Assets$307,856,993$329,998,445▲ $22,141,452
Other Assets Total$1,992,140$2,191,432▲ $199,292
Liabilities
Other Liabilities$424,022$2,475,875▲ $2,051,853
Accounts Payable and Accrued Expenses$25,710$54,179▲ $28,469
Total Liabilities$449,732$2,530,054▲ $2,080,322
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$290,161,948$312,372,262▲ $22,210,314
Net Assets With Donor Restrictions$17,245,313$15,096,129▼ $2,149,184
Total Net Assets Fund Balance$307,407,261$327,468,391▲ $20,061,130
Total Liabilities and Net Assets / Fund Balance$307,856,993$329,998,445▲ $22,141,452

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2019$218,873,679$4,988,155▲ $30,700,798-$252,262,548
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleOtherTotal
Margaret SlipekSenior Manager of Membership Programs$271,890$271,890

Board Members and Trustees

NameTitle
Leon CoopermanChairman
James SeneffPresident
Calvin SissonDirector
Dennis WashingtonDirector
Michael RollinsDirector
Stanley KroenkeDirector
Terrence J GirouxExecutive Director
John B ThornburgChief Financial Officer
Constantine G KatsaraskisChief Operating Officer
Debra J StancilManager of Nominations
Don DasekeSecretary
Margaret SlipekSenior Manager of Membership Program
John WeilandTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Destin Productions LtdPublic Relations422 E MONROE STREET, South Bend, IN 46601, Cy$200,000
New Group MediaAudio/visual Production-$149,405
Revenue and Support

Revenue Composition

Contributions and Grants
$5,949,966
Program Service Revenue
$0
Investment Income
$6,646,947
Other Revenue
$0
All Other Contributions
$5,949,966
Change in Net Assets
$-2,907,533

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Closely Held Stock1$1,346,100Fair Market Value (FMV) Based on Appraisal
Total Noncash Contributions1$1,346,100-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,685,108
Other Expenses$2,363,101
Salaries, Compensation, and Employee Benefits$456,237
Total Fundraising Expense$29,931
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,685,108--$12,685,108
Advertising$826,042$2,050-$828,092
Fees for Service Investment Mgmnt Fees-$579,288-$579,288
Other Expenses$400,549--$400,549
Current Officers, Directors, Trustees, and Key Employees$43,906$303,588$20,281$367,775
Conferences and Meetings$256,985$349-$257,334
Fees for Services Other$6,206$82,311$81$88,598
Other Salaries and Wages$9,111$29,082$1,943$40,136
Information Technology$4,939$32,021$2,127$39,087
Fees for Services Accounting$3,433$32,400-$35,833
Travel$28,101$6,300$397$34,798
Occupancy$4,174$28,199$1,884$34,257
Office Expenses$13,124$17,271$597$30,992
Insurance$10,025$18,709-$28,734
Other Employee Benefits$3,157$18,184$1,215$22,556
Payroll Taxes$2,102$13,143$878$16,123
Pension Plan Contributions$1,210$7,909$528$9,647
Fees for Services Legal-$5,539-$5,539
Total Functional Expenses$14,298,172$1,176,343$29,931$15,504,446
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Horatio Alger Assn of Distinguished Americans IncAlexandria, VA501(c)(3)Transfers to Supported Organization$12,685,108
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Entity$2,475,875
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.”

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
John Thornburg
Title
Chief Financial Officer
Phone
7036849444
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Thornburg
Formed
2010
Legal Domicile
Va
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

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.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt9329397
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10247609
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt12119417
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 OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11SENIOR MANAGER OF MEMBERSHIP PROGRAMS
IRS990/Form990PartVIISectionAGrp/TitleTxt12MANAGER OF NOMINATIONS
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IRS990/InformationTechnologyGrp/ProgramServicesAmt04939
IRS990/InformationTechnologyGrp/TotalAmt039087
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IRS990/MethodOfAccountingAccrualInd0X
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.
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0312372262
IRS990/NoncashContributionsAmt01346100
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt01884
IRS990/OccupancyGrp/ManagementAndGeneralAmt028199
IRS990/OccupancyGrp/ProgramServicesAmt04174
IRS990/OccupancyGrp/TotalAmt034257
IRS990/OfficeExpensesGrp/FundraisingAmt0597
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt017271
IRS990/OfficeExpensesGrp/ProgramServicesAmt013124
IRS990/OfficeExpensesGrp/TotalAmt030992
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt018184
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt03157
IRS990/OtherEmployeeBenefitsGrp/TotalAmt022556
IRS990/OtherExpensesGrp/Desc0PRODUCTION AND AUDIO VI
IRS990/OtherExpensesGrp/ProgramServicesAmt0400549
IRS990/OtherExpensesGrp/TotalAmt0400549
IRS990/OtherLiabilitiesGrp/BOYAmt0424022
IRS990/OtherLiabilitiesGrp/EOYAmt02475875
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt01943
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt029082
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt09111
IRS990/OtherSalariesAndWagesGrp/TotalAmt040136
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0878
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013143
IRS990/PayrollTaxesGrp/ProgramServicesAmt02102
IRS990/PayrollTaxesGrp/TotalAmt016123
IRS990/PensionPlanContributionsGrp/FundraisingAmt0528
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt07909
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01210
IRS990/PensionPlanContributionsGrp/TotalAmt09647
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt011934984
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt09388336
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0952766
IRS990/PrincipalOfficerNm0JOHN THORNBURG
IRS990/ProfessionalFundraisingInd00
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/ExpenseAmt01593952
IRS990/ProgSrvcAccomActy3Grp/Desc0MEMBERSHIP AND INDUCTION: THE HORATIO ALGER AWARD (THE AWARD) IS RECOGNIZED AS ONE OF THE NATION'S MOST PRESTIGIOUS HONORS. THE AWARD IS PRESENTED DURING THE ANNUAL MEMBERSHIP PROGRAM AND INDUCTION CEREMONIES HELD IN WASHINGTON, D.C. EACH YEAR, DURING A MULTI-DAY PROGRAM FOR MEMBERS, LIFE PARTNERS AND FRIENDS OF DISTINCTION, HELD CONCURRENTLY WITH THE NATIONAL SCHOLARS' CONFERENCE. THE PROGRAMS FOCUS ON MEMBER ACHIEVEMENTS, INTERVIEWS WITH NEW MEMBERS, OPPORTUNITIES FOR MEMBER NETWORKING, MENTORING OF NATIONAL SCHOLARS AND EDUCATIONAL PROGRAMS REGARDING THE FUTURE OF THE AMERICAN DREAM.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0250000
IRS990/ProgSrvcAccomActy3Grp/GrantAmt0250000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0MEMBER SUPPORT AND MEETINGS: THE ASSOCIATION CONVENES MEMBERS AND THEIR LIFE PARTNERS TO ADVANCE THE MISSION, PROGRAMS AND SERVICES OF THE ASSOCIATION ON A REGULAR BASIS INCLUDING, BUT NOT LIMITED TO, THE ANNUAL BOARD OF DIRECTORS MEETING, ANNUAL AWARDS WEEK IN WASHINGTON AND AT SPECIALIZED FORUMS, SUCH AS THE INTERNATIONAL FORUM, ALUMNI SUMMITS AND REGIONAL CONVENINGS, SUCH AS THE ASSOCIATION'S CONCERT SERIES. THESE ACTIVITIES INCLUDE ONGOING COMMUNICATIONS WITH MEMBERS, SUCH AS THE FORUM, THE BIENNIAL REPORT, ONLY IN AMERICA AND OTHER ONLINE AND PRINTED MATERIALS THAT KEEP THE MEMBERS CONNECTED TO THE ASSOCIATION'S MISSION AND WORK.EDUCATIONAL MEDIA AND PUBLICATIONS: THIS PROGRAM PROVIDES INFORMATION ABOUT THE ASSOCIATION'S MISSION AND PROGRAMS THROUGH A VARIETY OF SOURCES. PUBLICATIONS ARE PRINTED FOR MEMBERS, NATIONAL SCHOLARS, EDUCATION PARTNERS, FRIENDS OF DISTINCTION AND THE GENERAL PUBLIC. THE EDUCATIONAL DOCUMENTS REINFORCE THE MESSAGE OF HORATIO ALGER'S ORIGINAL CHARACTERS THAT SUCCESS AS AN ADULT IS WITHIN THE REACH OF EVERY YOUNG PERSON WITH A DREAM AND A COMMITMENT TO HARD WORK AND INTEGRITY.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt022374
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt03262
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt021389062
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt03827733
IRS990/PYInvestmentIncomeAmt020014701
IRS990/PYOtherExpensesAmt02553386
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt034386152
IRS990/PYSalariesCompEmpBnftPaidAmt0636492
IRS990/PYTotalExpensesAmt07017611
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt041403763
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2907533
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt020841204
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IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
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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IRS990ScheduleD/AgentTrusteeEtcInd00
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$329,998,445
Liabilities
$2,530,054
Net assets
$327,468,391
Revenue
$12,596,913
Expenses
$15,504,446
Net income
-$2,907,533
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$345$0.13$345$13.7$16.1$2.37
2023Detailed filing. Detailed filing data is available for this year.$330$2.53$327$12.6$15.5$2.91
2022Detailed filing. Detailed filing data is available for this year.$308$0.45$307$41.4$7.02$34.4
2021Detailed filing. Detailed filing data is available for this year.$323$0.03$323$58.3$8.35$49.9
2020Detailed filing. Detailed filing data is available for this year.$274$0.02$274$16.8$8.94$7.90
2019Detailed filing. Detailed filing data is available for this year.$252$0.30$251$27.2$11.3$15.8
2018Detailed filing. Detailed filing data is available for this year.$222$0.12$221$20.9$8.67$12.2
2017Detailed filing. Detailed filing data is available for this year.$234$0.34$233$43.4$12.5$30.9
2016Detailed filing. Detailed filing data is available for this year.$186$0.04$186$14.0$7.82$6.19
2015Detailed filing. Detailed filing data is available for this year.$173$1.89$171$36.4$9.26$27.1
2014Detailed filing. Detailed filing data is available for this year.$154$1.74$153$31.7$6.08$25.6