BIENNIAL REPORT

2020-2021 With the onset of the COVID-19 pandemic , this is a difficult time for our nation and indeed the worldwide community. It was unfortunate that we had to cancel our 2020 Horatio Alger Awards Induction Ceremonies as well as the National Scholars Conference, but we did so in accordance with Washington, D.C., guidelines and in the best health and safety interests of our Members, Life Partners, and Scholars. As a result, there will be no 2020 class of new Members. Instead those who would have been inducted in 2020 will become the 2021 class of new Members and we look forward to celebrating their inductions in Washington, D.C., in April 8 – 10, 2021. Our 2020 National Scholars will be college freshmen in the fall. We hope to host a National Scholars Conference for them in the late summer of 2020, but that is dependent on the status of the virus at that time. We are living in unprecedented times, but will—as we always have—persevere through this current challenge. We wish each of you the very best now and in the future.

–Horatio Alger Association Executive Committee

Horatio Alger Association Diversity & Inclusion Policy

The Horatio Alger Association, a 501(c)(3) educational nonprofit organization, values diversity and is committed to creating an inclusive environment for all employees. The Association is an equal opportunity employer that does not discriminate on the basis of race, color, religion, creed, sex, gender identity, sexual orientation, marital status, parental status, national origin, political affiliation, age, disability, or any other protected status. All employment decisions are based on merit and individual qualifications, performance, business needs, and job requirements. The Association is also committed to maintaining an environment that encourages and fosters appropriate conduct among all persons and respect for individual values. The Association’s policies, as outlined above, extend beyond its staff to its Members, Scholars, Alumni, volunteers, associates/contractors/vendors, and affiliates. Table of Contents

Leadership Message 2 Executive Director’s Report 4 Membership Programs 7 Educational & Alumni Programs 17 National Visibility 31 Fiscal Affairs 33 Governance 43 Future Events 48

Our Impact (Educational Statistics) Back Cover

Horatio Alger Association 2020–2021 Biennial Report 1 Leadership Message

s we reflect on all that Members, Life from its Board of Directors, the Horatio Alger Partners, and Friends have helped to Endowment Fund grew substantially with new achieve, we are grateful for the privilege of commitments, the fulfillment of pledges and pAroviding leadership to the Horatio Alger bequests, and the astute investment of its assets. Association at this time. We look to the future with Plans are underway to conduct a new Endowment great anticipation. Campaign chaired by Chairman Emeritus Paul Anthony Novelly. In recent years, the Horatio Alger Association has continued to surpass revenue goals garnered Although the state of the Horatio Alger Association through the annual Horatio Alger Awards Induction is strong, in true Horatio Alger fashion, we are Ceremonies. This, combined with recent aiming ever higher. The need is great, and there is contributions and the growth of the Horatio Alger always more that can be done. To accomplish our Endowment Fund, has bolstered the Association to vision for the future, we will enlist the assistance of record giving levels through its scholarship Members serving on Association Committees. We programs in both Canada and the United States. will look to the Strategic Directions Committee, Through the success of its scholarship programs as under the leadership of Co-Chairs R. James reflected through the high graduation rate of its Nicholson and Chris Sullivan, to explore options for Scholars—and the recognition received from the future activities and objectives. The newly watchdog organization, Charity Navigator—the established Awards Committee, led by Glenn Association has proven itself as a consistently Stearns and Valerie Montgomery Rice, will carefully effective administrator of scholarships and as being vet nominees for membership in the Association for worthy of the public’s trust. further review by the Board of Directors to ensure that we induct the strongest candidates as lifetime The Association’s affiliated organizations—the Members. We will also encourage greater Horatio Alger Association of Canada, the Alumni involvement from Life Partners, often as committed Association, the Horatio Alger Archive at Boston to the Association’s mission as their spouses. In University, and the Horatio Alger Endowment addition, we are formalizing the role of the Friends Fund—are growing and thriving. The Canadian of Distinction and Legacy Family Members to Association, having just completed its charter increase their participation in Association programs decade, is administering scholarships to students and activities. nationwide through its National, Provincial, Indigenous, and Vocational Scholarship Programs. In Given the wealth of experience, knowledge, and the United States, the Association has awarded commitment that exists among our Members, Life National Scholarships for the past 35 years. The Partners, Alumni, Friends and Legacy Family ranks of our Alumni are strong and growing Members, there is no limit to what the Horatio Alger stronger. Through the Alumni Association, we are Association may well achieve. Current participants creating channels through which Alumni can assist have built upon the contributions of previous current Scholars and help to advance the promotion generations. We want to do our part to create a of our activities. A special event is being planned in solid legacy that will continue to benefit others. coordination with Boston University to raise Thank you for interest in and commitment to the awareness about the Horatio Alger Association important work being done by the Horatio Alger Archive, which continues to expand with new Association in promoting values and providing submissions from Members. With wise oversight opportunities and education now and in the future.

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Combined Leadership Horatio Alger Association Executive Committee and Horatio Alger Endowment Fund Board of Directors

MATTHEW K. ROSE JAMES F. DICKE II GREGORY E. ABEL* ANTHONY WELTERS HAADA Chairman HAADA President HAADA Vice President HAADA Treasurer HAEF Assistant Secretary

WALTER SCOTT, JR. V. PREM WATSA BYRON D. TROTT JOSEPH NEUBAUER HAADA Chairman Emeritus HAADA Executive Cmte. Member HAADA Immediate Past HAADA Chairman Emeritus HAEF Chairman and President President, Horatio Alger Chairman HAEF Secretary Association of Canada

PAUL ANTHONY NOVELLY DAVID L. SOKOL DENNIS R. WASHINGTON VALERIE MONTGOMERY RICE HAADA Chairman Emeritus HAADA Chairman Emeritus HAADA Chairman Emeritus HAADA Member-at-Large HAEF Director HAEF Vice President HAEF Director

HAADA = Horatio Alger Association of Distinguished Americans Executive Committee

HAEF = Horatio Alger Endowment Fund Board of Directors

GREG P. RENKER JAMES M. SENEFF, JR. HAADA Member-at-Large HAEF Director

Horatio Alger Association 2020–2021 Biennial Report 3 Executive Director’s Report Ensuring the American Dream for Future Generations

ith a Membership composed of leaders determined that this would be an opportune time to in their respective fields, the Horatio develop a plan to celebrate and recognize these Alger Association benefits from an milestones—and to chart a course for what lies eWxceptionally high level of leadership acumen. We beyond. are grateful for their vision and guidance as we strive for excellence and growth in carrying out the Based on this mandate, we surveyed and consulted Association’s mission and programs. with the Association’s various constituencies to create the Blueprint for Excellence and Growth , Additionally, the Horatio Alger Association is which defines goals that will guide the Association’s fortunate to have Members who are deeply activities over the next several years. We hope you committed to its mission. Through their generous enjoy learning more about the goals and supportive support, the Association has awarded more than actions in this report. They will also form the basis of $193 million to more than 27,000 students since the future meetings, including the next Membership start of its scholarship programs in 1984. In the past and Board of Directors Meeting (San Diego, CA – fiscal year, the Association awarded more than $21 October 6–9, 2020), an Alumni Summit and State of million in new privately funded, need-based the Association Meeting, (New Orleans, LA – scholarships to more than 2,000 students. Now the October 8 –10, 2021) and a special event at the Association is assisting more than 7,400 Scholars Kennedy Center (Washington, D.C. – October 2022). currently enrolled in four-year degree and career/technical programs. This exceeds the Since its formation in 1947, the Horatio Alger enrollment at many small colleges. Association has been recognizing individuals for their outstanding achievements. We see that their The Association works with accredited auditors and lives provide clear evidence of the benefits of accountants in managing the Association’s assets. people being allowed to pursue individual versions Through careful fiscal management, more than of the American Dream. We encourage our fellow $21,274,000 in operating funds has been transferred citizens to capture this vision for personal and to the Horatio Alger Endowment Fund [a separate national success—as 501(c)(3)]. For the third consecutive year, the valid today as it was in Association has been accorded Charity Navigator’s past years. We are highest rating (4 stars), for “demonstrating strong deeply grateful to financial health and commitment to accountability everyone who and transparency.” We anticipate that the Horatio supports the Alger Endowment Fund will be awarded the same Association’s vital rating this year, its first year of eligibility for mission. consideration.

Although we are pleased and grateful for progress TERRENCE J. GIROUX to date, we look forward to greater achievements. HAADA Executive Director The Horatio Alger Association is approaching its 75th anniversary in 2022 and the 40th anniversary of its National Scholarship Program in 2024. Our Executive Committee and Board of Directors rightly

4 Horatio Alger Association 2020–2021 Biennial Report Horatio Alger Association 2020–2021 Biennial Report 5 6 Horatio Alger Association 2020–2021 Biennial Report Membership Programs

oratio Alger Members are dreamers who also their future families. It strengthens our society have overcome adversity to recognize and as more people are able to shape their individual accept opportunities and pursue goals. In versions of the American Dream. H1947, the Association’s founder, Dr. Kenneth Beebe, presented awards to four individuals in Relationships are at the heart of the success of the recognition of their outstanding achievements. Horatio Alger Association. To facilitate strong Soon thereafter, Dr. Norman Vincent Peale was bonds of friendship between Members and Life inducted. He would help to advance the Partners (Spouses of Members), Friends, and Association’s mission over the next four decades. Alumni, the Association hosts gatherings that encourage networking and camaraderie, present Today, more than 750 celebrated men and women information about the latest Association have been inducted as distinguished Members advancements, and provide opportunities for into the Horatio Alger Association. Members have supporters to renew their commitment to the established successful careers based on hard Association’s mission. The highpoint of the work, determination, purpose-driven attitudes, Association’s annual calendar, and its major source and an innate strength to carry on through of revenues, are the Horatio Alger Awards Induction difficulties. They have persevered through Ceremonies, held each spring in Washington, D.C. challenges to achieve success in their chosen At this three-day event, with spirited fanfare a new fields, which include business, science, medicine, class of honored Members—usually about 10—is government, entertainment, sports, law, religion, inducted into the Association. That year’s new education, and the arts. They are role models for National Scholarship recipients (called National their fellow citizens. Scholars) are welcomed at select program events.

By 1984, Members wanted more from their In autumn, the Association hosts its Membership affiliation with the Horatio Alger Association. For and Board of Directors Meeting at various locations many Members, education had opened the door across the U.S. and Canada. The Association also to opportunity, and they wanted to give young hosts regional State of the Association meetings, people the chance to attend college. Association allowing Members, Life Partners, current and Members are often referred to as "self-made" men Alumni Scholars, and Friends to convene on a local and women, but most would readily acknowledge basis. These events often help to promote public that at some point, someone offered them awareness of the Association’s mission, Members, assistance or a helping hand. In turn, they wanted and educational programs. to help young people currently struggling to make their way in the world. So in 1984, Horatio Alger The Association awards the Norman Vincent Peale Members expanded the Association's mission to Award to Members who have given exceptional include awarding college scholarships to students time, service, and involvement to the organization. who have faced adversity. The 2020 Peale Award would have gone to Tom Selleck ('00) in recognition of his service as co- In recent years, the Members further expanded emcee of the Horatio Alger Awards for eight years, their educational outreach, establishing a new as well as his promotion of the Association's career/technical education scholarship program. national visibility through his narration of several With a proven record extending back 35 years, the public service announcements. In light of the Horatio Alger Association has confirmed that its cancellation of the 2020 Horatio Alger Awards, Mr. scholarship support benefits not only the Selleck will receive his Peale Award in 2021 during immediate recipients (referred to as Scholars), but the 74th Horatio Alger Awards events.

Horatio Alger Association 2020–2021 Biennial Report 7 Horatio Alger Awards n The Meet the Scholars Breakfast, which gives Members, Life Partners, and Scholars an Held over three springtime days in Washington, opportunity to become acquainted. D.C., the Horatio Alger Awards events feature: n The Members Forum and Luncheon, which gives new Members an opportunity to answer n The Inaugural Ceremony, which includes the Scholars’ questions and offer them advice. presentation of membership medallions to the n The Awards Induction Ceremony, a dinner at new class of honorees. which award recipients are formally inducted n The Inaugural Dinner, which honors the new into the Association. Members and Scholars. The Alumnus of the n The Salute to the National Scholars Breakfast, Year recipient is also featured at this dinner. which gives Members, Life Partners, and Scholars an additional opportunity to connect.

Due to the COVID-19 pandemic, the Horatio Alger Awards in 2020 was canceled. Those who would have been inducted in 2020 will now be inducted in 2021.

73rd Horatio Alger Awards | April 8–10, 2021 The Association will salute and induct the class of 2021:

James R. Andrews, M.D. Stedman Graham Walter Schroeder Orthopaedic Surgeon Chairman & CEO Founder Andrews Institute S. Graham & Associates DBRS Ltd. Chairman Andrews Research & Robert A. McDonald Jane Seymour Education Foundation 8th Secretary Actress, Artist, Author, Designer, Chairman Department of Veterans Affairs Philanthropist American Sports Medicine Institute Retired Chairman, President, Jane Seymour Designs and CEO Open Hearts Foundation Arthur J. Falcone The Procter & Gamble Company CEO & Chairman David A. Thompson Falcone Group Steven S Reinemund President & CEO Co-founder & Managing Principal Retired Dean of Business TEC Equipment, Inc. Encore Capital Management Wake Forest University Retired Chairman & CEO Ronald G. Wanek Mario J. Gabelli PepsiCo Founder & Chairman of the Board Chairman and Chief Executive Officer Ashley Furniture Industries, Inc. GAMCO Investors, Inc. Horacio D. Rozanski President and Chief Executive Officer George A. Weiss Christiane Germain Booz Allen Hamilton, Inc. Chief Executive Officer / Chairman Co-Founder & Co-President Weiss Multi-Strategy Advisers, LLC Germain Hotels G. Brint Ryan Member, Order of Canada Founder, Chairman, & CEO Member, Order of Quebec Ryan, LLC

Future Awards n 73rd Horatio Alger Awards Induction Ceremonies, April 8–10, 2021 n 74th Horatio Alger Awards Induction Ceremonies, April 7–9, 2022 n 75th Horatio Alger Awards Induction Ceremonies, March 30–April 1, 2023 n 76th Horatio Alger Awards Induction Ceremonies, April 4–6, 2024

8 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Membership Programs

72nd Horatio Alger Awards Events

Above: The 2019 Inaugural Dinner was held in the Kogod Courtyard at the National Portrait Gallery for Members, Life Partners, Nationals Scholars, and Friends. Below left: David L. Sokol ('04) as he addressed the Horatio Alger National Scholars during their conference held concurrently with the Horatio Alger Awards Ceremonies. Right: At the reception held at the U.S. Supreme Court (l to r) Byron D. Trott ('11), Dennis R. Washington ('95), and Matthew K. Rose ('13). Bottom right: Enjoying the Inaugural Dinner, Ginni Thomas and Justice Clarence Thomas ('92).

Horatio Alger Association 2020–2021 Biennial Report 9 Above: Tony Novelly ('00) helped the Endowment Fund achieve its initial goal of $250 million in 2015. He will chair the new campaign to have $500 million in the Horatio Alger Endowment Fund by the Association's 75th anniversary in 2022. Right: Life Partners at the Life Partners Planning Breakfast hosted at Montreal's Mount Royal Club. Bottom left: Janet and James F. Dicke II ('15) at the Members Luncheon at the Montreal Museum of Fine Arts. Below top right: Byron ('11) and Tina Trott as they approach the Welcome Reception and Dinner at the Mont Royal Chalet. Below bottom right: Matthew K. Rose ('13) as he addresses Members and Life Partners at the closing dinner held at the Port of Montreal's Grand Quay.

Horatio Alger International Board and Membership Meeting October 2019 | Montreal, Quebec, Canada

10 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Membership Programs

Membership and Board of welcome reception and dinner at the Mount Royal Chalet; a luncheon at the Montreal Museum of Directors Meeting Fine Arts with a political conversation between former Canadian Prime Minister Brian Mulroney Montreal, Quebec, served as the host city for the and former U.S. Secretary of State James A. Baker 2019 International Membership and Board of III; and the concluding dinner with entertainment Directors Meeting in celebration of the Horatio at the Grand Quay in Montreal’s Old Port. In Alger Association of Canada’s (HAAC) 10th addition to meetings for the membership and the anniversary. HAAC President Prem Watsa and Canadian and U.S. Boards of Directors, the Board Members Brian Mulroney and Serge Godin Strategic Directions Committee, the Horatio Alger served as the official hosts of the meeting, Endowment Fund Board of Directors, and the Life welcoming participants to Montreal. Special Partners all conducted meetings to advance events were hosted at several iconic venues: a Association business and projects.

Future Membership and Board of Directors Meetings

2020 Membership & 2021 Membership and 2022 Membership & Board of Directors Meeting Board of Directors Meeting Board of Directors Meeting Hosted by October 2021 With a special event at the Ernest S. Rady (’18), Palm Beach, Florida Kennedy Center T. Denny Sanford (’16) and Julia October 2022 and George Argyros (’93) Washington, D.C. October 6–9, 2020 San Diego, California

Horatio Alger Association 2020–2021 Biennial Report 11 Horatio Alger Association of Canada

he first International Horatio Alger Award Voices of Our Youth was presented in 2003 to Canadian Wayne Gretzky. Since then, the award has been Fashioned after the Horatio Alger Association’s Tpresented to 18 Canadians—including Christiane national youth survey, State of Our Nation’s Youth, Germain and Walter Schroeder, who will be in 2018, the Canadian Association conducted its inducted in April 2021. In 2009, Canadian and first nationwide student survey titled Voices of Our American Members [Jim Pattison (’04), Dominic Youth. Results from this survey help the D’Alessandro (’05), Tony Novelly (’00), Walter Association target support appropriately. It also Scott, Jr. (’97), David Sokol (’04), and Dennis positions the Association to serve as a viable Washington (’95)] worked together to create a new resource of information about resiliency and Canadian nonprofit organization—the Horatio factors that impact young people. The two surveys Alger Association of Canada (HAAC). The new will also provide valuable insights about the organization was established to enable similarities and differences between young people International Members to assist students in their in Canada and the U.S. home country. Excellence Gala The Excellence Gala is the Horatio Alger Association of Canada’s celebration in salute to its Members and scholarship recipients. Since 2017, this event has been held each fall in Toronto. It is the Canadian Association’s major fund-raising endeavor. During the gala, the newest International Award recipients are honored and scholarship recipients provide remarks about the importance of the Association’s encouragement and financial assistance. The third Annual Excellence Gala was held in Toronto on October David Johnston ('18) on stage with Canadian Scholars to 28, 2019, at the Fairmont Royal York Hotel. discuss the results of the Voices of Our Youth survey during a press conference held in Quebec, Canada.

Horatio Alger Association of Canada Board of Directors

President Vice President Vice President Prem Watsa (’12) Jay S. Hennick (’19) Brian Mulroney (’12)

President Emeritus Vice President Treasurer Dominic D’Alessandro (’05) David Johnston (’18) Rick Waugh (’11)

Vice President Vice President Serge Godin (’15) Rebecca MacDonald (’09)

12 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Membership Programs

/rd Annual Excellence Gala

Above: The 3rd Annual Excellence Gala, held at the Fairmont Royal York in Toronto, Ontario, celebrated the milestone of having awarded $5 million in scholarships to Canadian Scholars. Below left: Ben Mulroney emceed the event. Below top right (l to r): David Foster ('09), who served as the producer of the Excellence Gala, Association President James F. Dicke II ('15), Chairman Emeritus Dennis R. Washington ('95). Below bottom right: Dennis Washington ('95) on stage with Ben Mulroney.

Horatio Alger Association 2020–2021 Biennial Report 13 Horatio Alger special event in the coming months that will raise awareness about the Association’s Archive and the Archival Collection resources available through the Center. Boston University’s Howard Gotlieb Archival Research Center houses the Horatio Alger Archival Collection, which preserves important documents about the Association’s history and biographical information about Horatio Alger Members. The Archive was established with support from the late John Silber (’92), who was a longtime president and chancellor of Boston University.

Horatio Alger Members are encouraged to direct personal documents and artifacts to the Archive in care of the Association. In this way, the Association is providing a legacy to future generations through the motivational stories of its Members who have experienced the American Dream.

The Association’s staff is communicating with Horatio Alger Archive at Boston University’s Howard representatives from the Gotlieb Center to plan a Gotlieb Archival Research Center.

Class Coordinators A Class Coordinator is selected from each annual induction class of Members. The Coordinator’s role is to facilitate communication among the class Members to foster engagement in and support for Association activities. For some classes, two Coordinators have been selected. The Association is grateful to the Class Coordinators listed below for their service in advancing its mission.

n Ronald G. Wanek*, 2021 n Al Annexstad, 2010 n Anthony Welters, 1998 n James W. Ayers, 2019 n Michael G. Morris, 2009 n John F. Grundhofer, 1997 n Gregory E. Abel, 2018 n Lee E. Mikles, 2008 n Melvyn N. Klein, 1996 n Reba McEntire, 2018 n Chris Sullivan, 2007 n Herbert F. Boeckmann II, 1995 n Valerie Montgomery Rice, 2017 n Doris K. Christopher, 2006 n Terry M. Giles, 1994 n Lenard B. Tessler, 2017 n Ronald M. Simon, 2005 n George L. Argyros, 1993 n Harvey L. Massey, 2016 n Duane B. Hagadone, 2004 n James F. Dicke II, 1992 n James F. Dicke II, 2015 n Harry S. Rinker, 2003 n David L. Sokol, 1991 n Mike Jackson, 2014 n Charles L. Overby, 2002 n James R. Moffett, 1990 n Patrick P. Lee, 2013 n Bill Greehey, 2001 n James F. Dicke II, 1980 –1989 n John H. Weiland, 2012 n R. James Nicholson, 2000 n Glenn B. Stearns, 2011 n Sidney D. Wolk, 1999

* Pending Mr. Wanek's induction in 2021.

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Norman Vincent Peale Award He also narrated the Association’s Against the Odds: The Next Generation series, which Named for the highlights the courage and determination of three Association’s co-founder, National Scholars in each episode. the Norman Vincent Peale Award is the highest honor Several times, Selleck moderated a segment of the bestowed on Members, Awards Induction Ceremony, which featured recognizing the recipient’s Scholars and the Association’s educational involvement, support, and programs. Then, from 2010 to 2017, he co-emceed service to the Association. the Annual Awards Induction Ceremony with Tom Selleck (’00) is the 2021 fellow Member Lou Dobbs (’99). In 2018, he once recipient of the Peale again co-emceed the Awards Induction Award. His service to the Ceremony—this time with Byron Pitts (’17). Association in support of the annual Awards events and national visibility efforts are deeply Throughout his years of involvement with the appreciated. Horatio Alger Association, Selleck has focused his attention on the Scholars. During his induction Tom Selleck was inducted into the Horatio Alger year of 2000, he became a personal mentor to Association in 2000, and that year he gave the Scholar Tara Cutting. The two have remained in keynote address at the Members Luncheon—held contact over the years, and 2020 was to have been

at the Ronald Reagan Building and International a special year for both the m, as Tom Selleck was to Trade Center. During his talk, he said, “You chose receive the Peale Award and Tara not to nurse a grievance, but to overcome it. You Cutting was to be the 2020 Alumna have chosen perseverance instead of victimhood, of Year. Both will now be honored and I thank you all for reminding us of that in 2021. important lesson.” He discussed the value of good character and said directly to the Scholars, “Right Horatio Alger now you are all consumed with WHAT you want to

HORATIO ALGER A SSOCIAT ION OF D Collection Series ISTINGUI SHED be, but I hope you will take time to consider WHO AMERICA NS, INC. you want to be.” A new brochure will feature

C O L L E C signature jewelry pie c es an d gift TION Five years later, Selleck once again was the items produced exclusively for SERIES featured speaker at the Members Luncheon—this Members and Life Partners. Net time at the U.S. Department of State. Part of his proceeds from the Horatio advice and words of wisdom included, “The Alger Collection Series are pursuit of happiness doesn’t guarantee you used to underwrite the anything but the right to chase it. If you follow your Association’s scholarships and dreams, you’ll probably discover your talent. Luck educational activities. is unpredictable, but talent tends to take advantage of it; therefore, the talented tend to have more of it. Life isn’t fair, but you can be.” Replica of the Horatio Alger Award commissioned from Using his talent and skills as an actor to gain glass artists in Murano, Italy, national visibility for the Horatio Alger Association, for the Horatio Alger Collection. Selleck narrated public service announcements.

Horatio Alger Association 2020–2021 Biennial Report 15 Alumni gathered at the Kennedy Center for the Performing Arts during the Alumni Summit in Washington, D.C.

16 Horatio Alger Association 2020–2021 Biennial Report Educational & Alumni Programs

he Horatio Alger Association expanded its National Scholarship Program mission in 1984 to include the provision of college scholarships. Since then, members In 2020, the Association awarded 106 National Thave awarded more than $193 million in Scholarships valued at $25,000 each. Scholarship scholarships to more than 27,000 Scholars. To recipients participate in the four-day National encourage its Scholars to stay the course to Scholars Conference in Washington, D.C., held graduation, the Association provides a variety of concurrently with the annual Horatio Alger Awards services, including financial aid advising, access to Induction Ceremonies. Ten Canadian National a 24/7 counseling and referral service, and online Entrepreneurial Scholarship recipients have also courses. Seventy-one percent of Horatio Alger participated in the conference in recent years. Scholars complete their college degrees, compared with a national average of 16% for The four curriculum goals for the National Scholars students from comparable low socioeconomic Conference are: backgrounds. n Educate Scholars about civic responsibilities Scholarship Programs and opportunities available through the free- enterprise system, while encouraging them to For 2020 scholarships, the Association received pursue their own versions of the American nearly 50,000 scholarship applications in the Dream inspired by the life stories and United States and Canada and it will award 2,981 examples of Horatio Alger Members. new scholarships valued at more than $21 million. n Advise Scholars about strategies for Below is a listing of how many scholarships were successfully navigating the first-year college awarded in 2020 through the Horatio Alger experience. Association’s scholarship programs. n Inform Scholars about the ways the Horatio Alger Association is prepared to support them National 106 during their college years as well as post- State 655 graduation. Specialized 661 Career & Technical 1,408 n Establish the foundation for lifelong Graduate 8 relationships. Scholars have numerous Canadian 245 opportunities throughout the conference to meet with Members, Life Partners, current and Alumni Scholars, and staff, as the basis for Total 2,983 what the Association hopes will be lifelong relationships.

The 2020 Horatio Alger National Scholars Conference was cancelled due to the COVID -19 pandemic. Plans are being developed to host a special meeting for the 2020 National Scholars in Williamsburg, VA, and Washington, D.C., in the summer.

Horatio Alger Association 2020–2021 Biennial Report 17 ultimately want to achieve a four-year college 2020 Scholar Profile degree. In 2020, more than 1,400 young people will be awarded Horatio Alger Career & Technical Average Family Income: $25,029 Scholarships valued up to $2,500 each.

Average High School GPA: 3.71 Dennis R. Washington Leadership Percentage of First-Generation Graduate Scholarship Program College Students: 51% These prestigious scholarships, valued up to $120,000, are awarded to Alumni Scholars seeking graduate degrees in the fields of business, State and Specialized engineering, medicine, law, applied sciences, or Scholarship Programs teaching. Funded by the Dennis and Phyllis Washington Foundation, this program targets In 2011, the Horatio Alger Association achieved its Alumni who demonstrate an entrepreneurial spirit goal of awarding State Scholarships in all 50 states and leadership abilities. In 2020, six Alumni have and the District of Columbia. Since that time, the been selected to receive this scholarship. value of State Scholarships has increased from $5,000 to $10,000. More than 650 State Scholarships are awarded each year on a Horatio Alger Scholarships for proportional basis. These scholarships are Canadian Students underwritten by individual Members, the The Horatio Alger Association of Canada had Association, and the Horatio Alger Endowment been in existence a mere four years when it Fund. The Association hopes to increase individual created its first scholarship program for students in support for State Scholarships. Ontario in 2012. In subsequent years, it expanded to assist students in three more provinces. By As a service to Members and in support of young 2015, Horatio Alger Members in Canada and the people, the Association administers specialized United States created a $10 million endowment to scholarship programs with selection criteria based help underwrite a national scholarship program for on parameters set by program sponsors. All students in all Canadian provinces and territories. Association scholarships are for students with Under this national model, the first scholarships critical financial need who have faced adversity. were awarded in 2016.Today, the Horatio Alger Sponsors may direct their support to students who Association of Canada's endowment fund is live in a particular region or state, who attend rapidly approaching $20 million. certain universities, or who are pursuing specific areas of study. The Association is grateful to all To date, the Canadian Association has awarded $5.6 sponsors of its State and Specialized scholarship million to 890 Scholars, thereby becoming the programs. country’s largest provider of need-based scholarships. Annually it awards scholarships valued between National Career & Technical $3,000 and $10,000 to 200 students nationwide. Scholarship Program These are in addition to the 45 scholarships for Canadian students, valued at up to $5,000 each, Through this nationwide program, the Association sponsored by Fairfax Financial Holdings Limited. grants scholarships to young people seeking Most recently, in addition to its National associate degrees or career/technical training and Entrepreneurial Scholarships (valued at $10,000) and certification at community colleges and career Provincial Scholarships ($5,000), the Canadian training centers. This program offers students an Association has enacted a new program that awards alternate route to gain valuable skills; it is also a way scholarships to First Nation, Inuit, and Métis students. to keep tuition costs down for students who These scholarships are $5,000 with a possible $5,000

18 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Educational & Alumni Programs

match from the Indspire organization. The Canadian also use this tool to post volunteer opportunities Association is also immensely proud to be and upcoming events for Scholars and Alumni. administering a national vocational and technical program that awards scholarships valued up to $3,000. Housing Needs The Association ensures that Scholars are housed during winter and spring breaks, if the Scholars do Horatio Alger Scholar Services not have other available housing options. To support scholarship recipients in the United States at every level, the Horatio Alger Association Internships offers the following services, in addition to its The Association offers internship opportunities to scholarship programs. Scholars, which are supported by Horatio Alger Members’ companies. In addition, the Association Personal Contact has developed other options to help Scholars gain Staff regularly communicates with Scholars via experiences and skills that will contribute to email, phone, text, letters and cards, e- success in their post-college careers. newsletters, and social media. Alumni Association College Selection and Financial Aid Counseling All Scholars who have graduated with a bachelor’s To ensure that Scholars incur the minimum amount degree are eligible for programs and services of debt possible, the Association provides offered through the Alumni Association, such as counseling regarding college selection and graduate grants and regional gatherings. The financial aid. Alumni Association also facilitates Alumni assisting currently enrolled Scholars with encouraging College Readiness and Scholar Support Tools personal phone calls, care packages, and Scholars have a personalized online account where personalized letters. they can access resources to help with the scholarship disbursement process and find tips to Webinar Series aid in navigating college. They may also Over the course of their college careers, Scholars participate in surveys and webinars with topics are required to participate in summer webinar such as school or major selection, study skills, and sessions focusing on the importance of hard work the graduate school application process. and determination as well as on citizenship, free enterprise, and entrepreneurship. Collegiate Partners Program Scholars attending Collegiate Partner schools Emergency Fund receive on-campus support from their institutions. The Association has established an emergency Partner institutions are committed to reducing the fund to assist Scholars with unanticipated small indebtedness incurred by Horatio Alger Scholars, expenses to encourage them to stay the course to and they designate representatives to inform graduation. Scholars of the programs and services that are available on their respective campuses. Online Education The Association provides opportunities for Networking Scholars to take online courses for credit in the HAA Connect is an online networking tool where areas of entrepreneurship and personal finances. Scholars and Alumni can connect and reach out The courses are offered through the University of for help. The Association and Alumni community North Carolina, Wilmington.

Horatio Alger Association 2020–2021 Biennial Report 19 Horatio Alger Alumni Association For many years, the Horatio Alger Association has provided Scholars with access to a 24/7 counseling The Horatio Alger Alumni Association was created and referral service for assistance with in 2004 to encourage National Scholars who had psychological and emotional needs.The earned college degrees to stay connected to one Association recently contracted with ComPsych to another and involved with the Association. In offer these same services along with many other recent years, participation has been extended to options, including legal advice, financial include State Scholar Alumni as well. The Alumni counseling, and help with life issues such as Association conducts meetings and activities that housing or employment. ComPsych's integrated foster career and personal development, help consulting approach can address Scholars' issues Alumni mentor current Scholars, and provide on many levels. opportunities for Alumni to serve as Horatio Alger Ambassadors in promoting its mission. Alumni To support and accommodate the distinct needs also serve as volunteers during the annual Horatio Alger Awards events and National Scholars of Career & Technical Education (CTE) Scholars during their career-focused education, the Conferences, and they serve as Field Directors in Association provides the following services and their home states to promote awareness about resources: Horatio Alger scholarship programs.

The Alumni Association continues to grow in n Licensing and Supply Fees These include training books, licensing fees, strength with each graduating class of Scholars. and supplies required for a technical program. Every two to four years, an Alumni Summit is held for Alumni to reconnect with other Alumni and to meet with Members and Life Partners. Initially n Networking and Career Guidance Connecting and networking with fellow CTE Alumni activities and meetings were administered scholars is essential for pursuing professional predominantly through the Horatio Alger opportunities and personal development. Association; however, with able leadership from the Alumni Advisory Council (the governing body of the Alumni Association composed of elected n Non-Traditional Support The Association's CTE Scholars range in age Alumni representatives), the Alumni Association up to 30 years old. To address their unique operates with increasing independence, in close situations, support may cover costs such as consultation with the Horatio Alger Association. transportation and childcare, to ensure Scholars complete their course of study. Future Alumni Meeting The Horatio Alger Association of Canada is State of the Association & Alumni Summit planning to rapidly expand the services it provides October 8–10, 2021, New Orleans, Louisiana to young Canadians, modeling its programs on those offered in the U.S.

20 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Educational & Alumni Programs

Above: Scholars Alumni at the Alumni Summit in Washington, D.C. Below left: Scholars at the Annual Awards Induction Ceremony. Below top Right: Dennis R. Washington ('95) and David L. Sokol ('04) with a National Scholar. Below bottom Right: Harry S. Patten ('11) with Scholars.

Horatio Alger Association 2020–2021 Biennial Report 21 Through conducting surveys since the 1990s, the Horatio Alger Association has established itself as a viable resource for information pertaining to teenagers and young adults. Every four years, the Association has conducted the national State of Our Nation's Youth survey among young Americans. The Voices of Our Youth survey, which was conducted for the first time in 2018, is the Canadian Association's correlating survey among young people in that country. The Longitudinal Study is a multi-year project focusing on the 2017 cohort of Horatio Alger National Scholars. A preliminary report about the study will be provided at the 2020 Membership and Board of Directors Meeting.

22 Horatio Alger Association 2020–2021 Biennial Report Research 2020-2021 | Research

ased on its research projects over the past Additionally the Association will convene its three decades, the Horatio Alger Research Committee, composed of internal and Association established itself as a viable external researchers and educators who will create Bresource for information about young people in an agenda for research projects over the next the United States, especially regarding resiliency five years. and the benefits of education. Survey results are often used comparatively to understand the Horatio Alger Research Committe e unique qualities that enable Horatio Alger Scholars to persevere through adversities. The information gained also helps the Association determine the most effective ways to assist its Scholars, and it benefits other individuals and organizations that are concerned about the well- being of young people.

Longitudinal Study— Horatio Alger Class of 2017 The Association has completed two years of the

current longitudinal study. This project is tracking JOSEPH NEUBAUER ('94) the progress of the 2017 class of National and Committee Chairman State Scholars through their graduation from college in 2021. When published, the study will reveal collected data on the students’ experiences, choices, and attitudes during college and compare their survey answers to corresponding answers they gave as freshmen. The research will answer this important question:

n How much does two years of college—when Scholars have a full grasp of how to navigate BRIAN VICTOR, Ph.D . GREGORY C. WOLNIAK, Ph.D. the college environment—affect and change Associate Vice Chancellor for Associate Professor Student Affairs Institute of Higher Education, their freshman attitudes toward their career University of North Carolina, University of Georgia choices? Have they, for example, transferred Wilmington to another college or changed their major by then?

Ultimately the study will give the Association a new understanding of how students develop because of the college experience. The results will also help shape how the Association uses its resources to support educational and career success later in Scholars’ college careers. LINDSAY MARSHALL 1997 National Scholar Alumna Research Assistant / Graduate Assistant Graduate College Horatio Alger Association 2020–2021 Biennial Report University of Illinois at Chicago 23 Educational Partnerships

Collegiate Partners The following colleges, universities, and community colleges collaborate with the Horatio Alger Association to maximize the non-loan aid available to Horatio Alger Scholars, thus minimizing loan indebtedness. Collegiate Partners also provide Scholars a point of contact on campus and direct them to available campus resources. Some Partner Institutions go above and beyond what is required in support of Horatio Alger Scholars. These schools, which are designated with an asterisk, are referred to as Collegiate Partners of Distinction. Community colleges that partner with the Horatio Alger Association are designated with two asterisks.

Alabama Colorado Hawaii Samford University Colorado Mesa University Chaminade University of University of Alabama Colorado State University Honolulu Colorado State University at Arizona Pueblo Idaho Arizona State University Front Range Community Boise State University Embry-Riddle Aeronautical College ** North Idaho College** University-Prescott University of Idaho Mesa Community College** Connecticut Three Rivers Community Illinois Arkansas College ** Augustana College Harding University Wesleyan University John A. Logan College** Henderson State University MacMurray College Delaware Quincy University California Goldey-Beacom College Saint Xavier University California Institute of Technology Wesley College Southern Illinois University at Chapman University Edwardsville Menlo College District of Columbia University of Chicago San Joaquin Delta College** George Washington University Wilbur Wright College** Santa Clara University* Santa Rosa Junior College** Florida Indiana Scripps College* Florida International University Depauw University Shasta College** Indian River State College** Indiana University Purdue Thomas Aquinas College Nova Southeastern University University of Indianapolis University of California at Stetson University University of Evansville San Diego Valencia College** University of Notre Dame University of California, Davis University of St Francis-Indiana University of California, Georgia Wabash College Los Angeles* Berry College University of San Francisco Mercer University Savannah College of Art & Design

* Collegiate Partners of Distinction ** Community College Partners

24 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Educational Partnerships

Iowa Massachusetts Montana Central College Boston University Carroll College Coe College Brandeis University* Helena College ** Grand View University Bridgewater State College Montana Tech at Butte Iowa State University College of the Holy Cross University of Montana at Kirkwood Community College** Harvard University-Harvard Missoula Luther College College* University of Montana Western Northwestern College: Iowa Smith College at Dillon Tufts University Kansas Wheaton College Nebraska Butler Community College** Williams College Bellevue University Wichita State University Clarkson College Michigan College of St. Mary Kentucky Alma College Creighton University Berea College Hillsdale College Metropolitan Community Lindsey Wilson College Hope College College** University of Kentucky at Michigan State University Nebraska Wesleyan University Lexington University of Nebraska at Kearney University of the Cumberlands Minnesota University of Nebraska at Lincoln Augsburg College University of Nebraska at Omaha Louisiana Carleton College University of Nebraska McNeese State University College of St. Scholastica Medical Center Sowela Technical Community Gustavus Adolphus College College** St. Olaf College* Nevada Tulane University University of Minnesota Sierra Nevada College Xavier University of Louisiana Twin Cities University of St. Thomas - New Hampshire Maine Minnesota Dartmouth College Bates College University of New Hampshire Colby College* Mississippi Mississippi College New Jersey Maryland Caldwell University Howard Community College** Missouri Loyola University Maryland College of the Ozarks New Mexico St. Johns College Drury University Central New Mexico Towson University Mineral Area College** Community College** Missouri University of Science University of New Mexico at and Technology Albuquerque Rockhurst University St. Louis University University of Missouri at St. Louis Washington University in St. Louis * Collegiate Partners of Distinction ** Community College Partners

Horatio Alger Association 2020–2021 Biennial Report 25 New York Oregon Texas Broome Community College** Lewis & Clark College Lamar University Colgate University University of Portland Southern Methodist University Houghton College Stephen F. Austin State University Long Island University Pennsylvania Tarrant County College- New York University Arcadia University Northeast** Rochester Institute of Bucknell University Texas Christian University* Technology Carnegie Mellon University Texas State University- Skidmore College Desales University San Marcos SUNY College of Environmental Dickinson College Texas Tech University Science and Forestry Duquesne University Trinity University* The New School Gettysburg College University of Dallas Harrisburg Area Community West Texas A&M University North Carolina College-Harrisburg Campus** Davidson College* King’s College Utah Duke University* Lafayette College Salt Lake Community College** High Point University Saint Vincent College Livingstone College Washington and Jefferson Virginia Queens University of Charlotte College* Hollins University Shaw University Williamson College of Longwood University the Trades** Randolph College North Dakota Shenandoah University Bismarck State College** Rhode Island The University of Lynchburg Minot State University Johnson & Wales University: University of Richmond University of Jamestown Providence Providence College Washington Ohio Columbia Basin College** Heidelberg University South Carolina University of Puget Sound Kenyon College Wofford College Whitman College* Oberlin College Ohio Northern University South Dakota West Virginia Ohio State University* Augustana University Davis and Elkins College Ohio Wesleyan University* Dakota State University University of Akron South Dakota School of Mines Wisconsin University of Dayton University of South Dakota Milwaukee School of at Vermillion Engineering Oklahoma Viterbo University Oklahoma City University Tennessee Seminole State College** Belmont University Bryan College Sewanee: The University of the South

* Collegiate Partners of Distinction ** Community College Partners

26 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Educational Partnerships

Field Directors UNITED STATES In every state, volunteer Field Directors—mostly Central Florida Horatio Alger Alumni and retired teachers, Urban League – counselors, and school administrators—serve as assists Central local liaisons with secondary schools and Floridians in achieving organizations to raise awareness about Horatio social and economic equality. One of the Alger scholarships. Field Directors meet cornerstones of the CFUL is its Youth Department, periodically to share best practices when working which plants the seeds of responsibility, self-worth, with the public regarding the Association’s and hope into the lives of Central Florida’s youth. educational programs. College Advising Corps Online Education (CAC) – assists low-income, first-generation college and The University of North Carolina Wilmington unserved high school (UNC–W) serves as a partner with the Association students seeking a college degree. The CAC in providing online courses on business/ sponsors recent college graduates from 24 partner entrepreneurship (three credits) and personal institutions of higher education to serve as full- finance (one credit). These courses are offered free time college advisers in the nation’s underserved of charge to Horatio Alger Scholars. Credits are schools. transferable to their respective colleges or universities. The College Board – is a mission-driven The Association is considering expanding its nonprofit organization that connects students to number of online courses. It is also researching the college success and opportunity. Each year, the possibility of allowing Scholars to earn degrees Board helps more than seven million students from online colleges and universities. prepare for a successful transition to college through programs and services in college Strategic Partners readiness and college success—including the SAT The following organizations, which share the and the Advanced Placement Programs. Association's commitment to youth, promote awareness about Horatio Alger scholarships Communities in Schools among their constituencies. – surrounds students with a community of support, empowering them to stay in school and succeed in life.

Horatio Alger Association 2020–2021 Biennial Report 27 Cristo Rey – is a The National Foster network of 25 inner- Parent Association – is a city high schools nonprofit organization across the country that helps their students finance that provides information and support to foster their education, while gaining real-world job parents and others involved with the foster-care experience, self-confidence, a strong work ethic, system through regular publications, a website, and awareness of relevance of their education educational programs, research, and advocacy through a Corporate Work-Study Program. related to family-based care.

Junior Achievement – Network for Teaching is the world’s largest Entrepreneurship, Start It Up organization dedicated – provides programs that to educating students about workforce readiness, inspire young people from low- entrepreneurship, and financial literacy through income communities to stay in school, recognize experiential, hands-on programs. business opportunities, and plan for successful futures. KIPP – is a national network of free open-enrollment, Schools That Can – connects college preparatory public leaders from urban K-12 charter schools with a track record of preparing schools, as well as from students in underserved communities for success industry, higher educational, in college and in life. and innovative educational organizations to share innovative and effective Leadership Enterprise for a practices across schools and collectively build Diverse America – is a national solutions to common challenges. nonprofit organization dedicated to diversifying the national leadership pipeline by enabling high- achieving students from low-income backgrounds to gain admission and to succeed at the nation’s most selective colleges.

28 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Educational Partnerships

CAREER & TECHNICAL EdCan Network – is STRATEGIC PARTNERS administered by the Canadian Education Association (CEA) and supports educators working tirelessly to American Association of ensure that all students discover their place, Community Colleges – advocates for nonprofit, purpose, and path. public-serving community colleges to ensure they have the resources and support needed to deliver Indspire – is an Indigenous-led on the mission of increasing education and national charity that invests in the economic mobility for all. education of Indigenous people for the long-term benefit of these individuals, their families and JAG – Jobs for America’s Graduates (JAG) is a state- communities, and Canada. based national nonprofit organization dedicated to working with young The Learning people who have experienced significant life Partnership – is a challenges to graduation and/or employment. national charity dedicated to building stakeholder partnerships to support, promote, and advance publicly funded Association for Career and education in Canada through five key deliverables: Technical Education – is the nation’s largest nonprofit innovative student programs, executive leadership association committed to the for educators, knowledge mobilization and policy, advancement of education that prepares youth tribute celebrations of excellence, and ongoing and adults for successful careers. collaborations across Canada.

Pathways to Education CANADA Canada – is helping Children’s Aid Canadian youth in low- Foundation – is income communities to graduate from high school Canada’s leading and successfully transition into post-secondary national charity dedicated to improving the lives of education. It offers a comprehensive set of children and youth in the child welfare system. academic, financial, and social supports to youth.

Colleges and Institutes SHAD – is a Canadian Canada – is the national and charitable nonprofit international voice of Canada’s organization that helps publicly supported colleges, exceptional students recognize and envision their institutes of technology, full potential as tomorrow’s leaders and change cégeps, polytechnics, and universities with a makers. Their month-long summer program college mandate. It works with government, focuses on STEM subjects. industry, and international partners to champion employment-focused post-secondary education.

Horatio Alger Association 2020–2021 Biennial Report 29 Share, Like & Comment

Last year, I was inducted into the @horatioalgerassociation. Tonight, it is my honor to induct the Class of 2019 and to meet our inspiring National Scholars. HAA has awarded more than $159M in college scholarships and their mission of commemorating remarkable leaders and students is something I’m proud to be part of. #HoratioAlgerAwards

Rob Lowe | @RobLowe Horatio Alger Member

Justice Clarence Thomas is a phenomenal individual #fbf Me at 18 with @donjohnson on a @nbc who resembles what hard work can do. I had a great special where he presented me with an award time this past weekend at the 2019 Horatio Alger for an essay I wrote on overcoming adversity. Award Ceremony. Thank you to everyone who made (He’s all over for his new show Watchman, this event possible and I am grateful to have had which triggered this memory!) I shared the another opportunity to contribute back to this story of me and my best friend’s tandem organization. Congrats to the new members and eating disorders. She died; I lived to write scholars who joined the Horatio Alger family this about it. I earned a $10K scholarship as a year! @horatioalgerassociation @horatioalgerassociation National Scholar & this show spring-boarded my career. YM Alex Scigliano | @Alex_Scigliano_ magazine (RIP) saw it and invited me to write Horatio Alger Scholar for them. @michprom hired me as her intern & before I knew it I was a contributing editor at 19 writing for @lorimajewski & Having impactful members to admire and @dolgoffstephanie too. The point? There IS aspire to be like is a key factor to my GOOD that can come from all bad if you’re personal drive. ‘Break to become open’ was brave enough to share your pain. What are a great message I needed to hear! Thank you holding onto? Who can you spark by you @jeweljk for enriching all of our lives in opening up? the @HoratioAlgerUS and @HoratioAlgerCA

Meaghan B. Murphy | @@meaghanbmurphy Donna Neeman | @DonnaDusong Horatio Alger Scholar Horatio Alger Scholar Executive Editor, Good Housekeeping

30 Horatio Alger Association 2020–2021 Biennial Report National Visibility 2020-2021 | National Visibility

edia relations remains an important pillar The Association will run public service of the Horatio Alger Association’s announcements about the 2021 new Members national visibility program as it serves to and Scholars in the The Wall Street Journal , Mdrive greater awareness of its mission and The Washington Post , and Forbes . The celebrate its successes. These opportunities raise Association is grateful to Robert G. Miller (‘12) the profile of the Association's mission, Members, and Safeway for sponsoring the announcements Scholars, and educational programs. about the new Members that have appeared in The Washington Post during the Awards events in In 2019, the Association was included in more than recent years. 120 placements across online, print, and broadcast media which garnered more than 85 million estimated impressions. Recent national editorial

THE HOR ATIO ALGER AS placements of note include The Wall Street SOCIATION OF DISTINGU ISHED AMERIC ANS PROUDLY 2021 H PRESENTS THE Journa l and People Magazine . ORATIO ALGE AWAR R D RECIPIENTS Honorin g Perseverance, I Each year the H ntegrit oratio Alger Ass y and E Through social media, the Horatio Alger individuals ociation of Disti xcellen who ha nguishe ce ve achieved suc d Americans p professional cess with hard resents the Hora obstacles. Awar work, perseveran tio Alger Award provid d recipients beco ce and integrity to select ing need-based me lifelong Mem in spite of facin A college scholarsh bers of the Asso g personal and ssociation has a ips to deserving ciation and join w warded $180 mi young people. ith other Memb also serve a llion to 27,000 st Thanks to their g ers in Association shares news, press coverage, and s role models an udents in the Un enerosity, the Ho d m ited rat entors, demons States and Can io Alger trating what can ada since 1984. be achieved thr Our Members ough the free-en relevant information with Members, Scholars, terprise system.

JAMES R. A NDREWS, M.D. educational partners, and the general public. ARTHUR J. F ALCONE MA RIO J. GABELL CHRIST I IANE GERMAIN (Canada) STEDMAN GRAHAM RO BERT A. MCDO NALD STEVEN During the application period, social media is S REINEMUND

HORACIO D. ROZANSKI G. BRINT RYA WALT used to market the Association’s scholarship N ER SCHROEDER (Ca nada) JANE SEYMO UR DAVID A. THOMPSON RONALD G. WA JAMES R. NEK GEOR ANDREWS, M.D GE A. WEISS Ortho . CHRIST paedic Surgeon IANE GERMAIN And Co-F STEVE rews Institute ounder & Co-Pre N S REINEMUN sident R D JA programs. This past year, the Association’s social Chairman Group Germain etired Dean of B NE SEYMOUR Ho usin tels ess A Andrews Res Member, Orde Wake Forest Un ctress, Artist, Au earch & Educatio r of Canada iversity thor, Designer Found n Member, Retired Ch & Philanth ation Order of Quebe airman & CEO ropist Ch c Peps Jane S airman iCo eymour Designs STEDMAN GR Op American Spor AHAM en Hearts Found ts Medicine Chairman HORACIO ation Institute & CEO D. ROZANSKI media platforms grew by more than 2,000 S. Graham & President and DAVID A. THO Associa MPSON tes Pr ARTHUR J. FA Chief Executive esident & CEO LCONE ROBERT Officer CEO & C A. MCDONALD Booz Allen H TEC Equipme hairman Ret amilton, Inc. nt, Inc. Falc ired Chairman, P one Group resident, R and CEO G. BRINT RYAN ONALD G. WA Co-founder & NEK The Procter & Founder, Chair Founder & Chair Managing P Gamble Comp man & CEO man of the Board followers and boasted the highest engagement rincipal 8th Sec any Ryan, LLC Ashley Fur retary niture In 202 Encore Capital M dustries, In1c. HORA anagement U.S. Depar TIO A tment of WAL GEOR LGER A MA Ve TER SCHROEDE GE A. WEISS WARD RIO J. GABELLI terans Affairs R C RECIP Founder hief Executive O IENTS Chairman and fficer / DBRS Ltd. Chairman Chief Exec utive Officer Weiss Mu GAMC lti-Strategy Advis rate to date. O Investors, Inc. ers, LLC

JAMES R. A NDREWS, M.D. ARTHUR J. FAL ww CONE M w.horat ARIO J. GABEL CHRIS ioalger.o LI TIANE GERMAI rg (C N w anada) STED ww.hora MAN GRAHAM tioalger ROBERT .ca A. MCDONALD STEVEN S R The Association’s websites—one for the United EINEMUND

HORACIO D. ROZANSKI G. BRINT RYA WALT N ER SCHROEDER (Canada) JANE SEYMOU R DAV ID A. THOMPSO N RON ALD G. WANEK States, another for Canada, and a third for GEORGE HONOR A. WEISS ING PERSEVE Fou RANCE nded in 1947, th , INTEG e Horatio Alger A RITY AN outstanding in ssociation of Dis D EXCE dividuals who h tinguished Amer LLENCE highe ave succeeded i icans, Inc., fulfill r education. Ea n spite of advers s its mission of h ch year the Asso ity and of encou onoring the achi Alger Award ciation welcome raging young p evements of Scholars—are important tools to share information . In April, the As s new lifelong M eople to pursue sociation loo embers to their dream ks forward to ho its ranks throug s through noring and indu h the presentatio JAMES R. A cting the 2020 n of the Horat NDREWS, M.D. class of new M io Orthop CHRIST embers: aedic Surgeon IANE GERMAIN Andrews Ins Co-Founder STEVEN S R titute & Co-President EINEMUND Chairm Germa Retired JANE an in Hotels Dean of Busine SEYMOUR W ss A Andrews Resear Member, Order ake Forest Uni ctress, Artist, A and reach target audiences. All three sites are ch & Education of Canada versity uthor, Designer Foundat Member, O Retired Ch & Philant ion rder of Quebec airman & CEO hropist Chairm PepsiC Jane S an o eymour Designs American Sport STEDMAN GR Open Hearts Fo s Medicine Instit AHAM undation ute Chairman HORACIO & CEO D. ROZANSKI ARTHU S. Grah Preside DAVID R J. FALCONE am & Associates nt and A. THOMPSON CEO & C Chief E Presiden hairman xecutive Officer t & CEO optimized for mobile use and viewers have easy Falcone Gro ROBERT A. Booz Allen H TEC Equipm up MCDONAL amilton, In ent, Inc. C Re D c. o-founder & Ma tired Chairman, naging Principal President, Encore Capi and CEO G. BRINT RY RONALD G. tal Management AN WANEK The Procter & Founder, Chai Founder & Cha Gamble Compa rman & CEO irman of the Boa MARIO 8th Secre ny Ryan, LLC Ashley Fu rd J. GABELLI tary rniture Industrie Ch U.S s, Inc. airman and . Department of Chief E Vetera WALTER GEORGE access to Members’ biographies, both in written xecutive Officer ns Affairs SCHROEDER A. WEISS GAMCO Founder Chief Exe Investors, Inc. cutive Officer / DBRS Ltd. Chairman Weiss Multi-Strat egy Advisers, LLC Horatio Alger M embers serve as people role models and and video streaming formats. The websites are across the Unit fund undergrad ed State uate and scholars s and Canada. B graduate need hips to more tha y its 75th anniv -based scholarsh n 30,000 studen ersary in 2022, t ips and services ts. he Association w for young ill have awarded $225 million in $180 MILLIO in Scholarsh N ips (1984–2019) $19.3 MI continually updated with feature pages that a LLION warded to 2,400 Scholars i Sch 27K $ n 2019 olar 250 M I N C L U D I N G G Scholars IL : raduation Endowment $15.4 MIL 71% Rat Undergraduate $840 K e Gradu $2.1 M ate Care IL $9 co er & Technical 40 K mpared to nati Canadian onal low-income gradu promote current events, Member news, and ation rate of 16% 2020 DEN NIS WASHINGT ON LEADERSH Scholar stories about the positive impact the IP SCHOLARS

OMID Association has had on their lives. Each site also COHENSEDGH J Medicine OSEPH DAKKI AN Medicine DREW MURPHY MA Education HIKA PHUTANE C omputer Science ITKA SAFIR BRO The Law OK THOMPSON Horatio A Engine lger Association ering Scholarsh is pleased to a ips. Funded by nnounce the rec offers the public ways in which they can make Schol the Phyllis and ipients of the 2 arship Pro Dennis 020 Denn gram has award Washington Fou is Washington L Alumni Sch ed more than $ ndation, the D eadership olars pursuing 7.5 million since ennis Washingto medici master’s or doc 2008. Scholars n Leadership ne, and applied toral degrees in hips are awarde str sciences. Reci the fields of b d to Horatio Alg ength of charac pients have dem usiness, educa er ter in the face o onstrated acad tion, engineerin are poised to f adversity. With emic excellenc g, law, become leaders the benefits a e, leadership ab donations in support of the Association’s mission. in their respect fforded through ilities, and ive fields an advanced d change agen degree studies, ts in our society. they All three websites will be undergoing a design refresh in 2020 to match the updated Association branding and ensure an optimal user experience.

Horatio Alger Association 2020–2021 Biennial Report 31 Horatio Alger Association headquarters Board Room in Alexandria, Virginia. The shelves are filled with the books of author Horatio Alger, Jr.

32 Horatio Alger Association 2020–2021 Biennial Report Fiscal Affairs 2020-2021 | Fiscal Affairs

The Horatio Alger Association is a membership organization known for its strong philanthropy program in awarding college scholarships to America's most deserving young people. The Association prides itself on practicing good governance in all areas of program budgeting, functional expense reporting, and full transparency in all operations with the assistance of two accredited accounting and auditing firms: RSM and Sikich. As a result, the Association—for the last three years in a row—has received the highest four- star rating from Charity Navigator. This is based upon the Association expending 5% of its total expenses on administrative and fundraising activities, and for transparency in its operations.

Interview with Our Treasurer philanthropic. What sets us apart from other nonprofits is that we are fully funded by our Members and Friends of the Association. In other Anthony Welters (’98) words, we do not make “cold calls” to the general serves as the Treasurer public soliciting donations. We do not seek, nor of the Horatio Alger do we accept, government funding. This makes us Association, chairs the very different from other 501(c)(3) organizations, Audit Committee, and which receive up to 70% of their total revenues is the Assistant from government sources such as contracts, fees Secretary of the for service, and grants. Horatio Alger Endowment Fund. In a recent interview, he The Horatio Alger Association is proud of ANTHONY WELTERS explained the fiscal receiving Charity Navigator’s highest rating of HAADA Treasurer responsibilities of the four stars. What exactly does that mean, and HAEF Assistant Secretary Association. why is it important?

Watchdog groups look at nonprofits and analyze The Horatio Alger Association is a nonprofit the percentage of expenditures on programs, organization. Under that designation, what are administrative costs, and development to its financial obligations? determine whether the organization is acting as a good steward of donor funds. Charity Navigator As a nonprofit and educational association, we are gave us their highest rating, based on our financial exempt from income taxes, but we are required to strength, governance, and relatively modest report our expenses in three categories: program, expenditures on administration and development. administrative, and development. The vast majority of our funds—95%—is directed to our programs and services. This is well above Is there anything different about the Horatio industry averages. Alger Association compared to other nonprofit groups?

Yes. We have always been a membership organization, but when we began awarding scholarships in 1984, our focus became

Horatio Alger Association 2020–2021 Biennial Report 33 Speaking of financial strength, what is 2020 That is good news, which leads to the next looking like in light of the coronavirus question: Where does the Association’s funding situation? come from and how is it spent?

Well, as I am sure you know, we were forced to The pie charts below show a breakdown of our cancel our 2020 Annual Awards event, which is revenues and expenses for 2019. That is what a major source of fundraising for the Association. a “normal” year looks like. As I mentioned earlier, However, because of the generosity of our the Association prides itself on the fact that Members and Friends, we ended 2019 with over 95% of its expenditures are for programs and $280 million in consolidated cash and investments services, and our program budgeting system, so we are confident that we will be able to fund which is reviewed annually by the Association’s the Association’s scholarships and programs well auditors, enables us to track all of our costs in the into the future. appropriate categories.

2019 Revenue 2019 Expenses Giving Clubs Research, Publications, 5% Other Programs 4%

Investment Income and Other General and 7% TOTAL TOTAL Administrative Annual $31,307,111 $31,203,863 5% Awards 36% Scholarship Contributions 30%

Horatio Alger Scholarship, Educational, and Endowment Fund 22% Membership Programs 91%

Can you tell us more about the programs That is impressive. However, is there funded by the Association’s annual revenues? transparency about the Association’s Certainly. The illustrative box below contains a financial reporting? more detailed list of the Association’s programs and services. Absolutely. We use the services of two firms that audit, consult, and certify our finances. They are: n Awards and Induction Ceremonies n National Scholarships n RSM, a certified public accounting firm that n National Scholars Conference audits the annual financial statements of the n State Scholarships Association and the Endowment Fund. n Specialized Scholarships Tate and Tryon, who advised the Association n Scholar Support on internal contracts and operational best n Educational Programs & Meetings practices for many years, recently merged with n Educational Media & Publications RSM. We anticipate the same individuals will n Alumni Programs & Services continue in the same advisory capacity. n Research n Collegiate Partners Program n Field Directors Program

34 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Fiscal Affairs

n Sikich, LLP (formerly Halt, Buzas, & Powell, LTD), Preparations are underway to conduct a second a certified public accounting firm that has endowment fund campaign with a goal of prepared the Association’s monthly financial achieving $500 million in the Horatio Alger statements and annual tax returns for almost 20 Endowment Fund by the Association’s 75th years. This firm also handles the Association’s anniversary in 2022. The Association is grateful to payroll, scholarship disbursements, and Walter Scott, Jr. (’97), for leading the drive to accounts payable. establish the Endowment Fund as a separate charitable organization and to Tony Novelly for Is there anything you want to add about the agreeing to chair the new campaign. Association’s financial well-being or practices? We have put in place internal controls and monitoring procedures to help ensure the Charity Navigator Association is following best practices in the In May 2019, the Horatio Alger Association industry. The Charity Navigator’s four-star rating received a third consectutive four-star rating from echoes that. Nevertheless, none of this would be Charity Navigator. possible without our dedicated and generous Horatio Alger Members, Life Partners, and Friends. They believe in our stated goals, and we are grateful to them for helping to carry our mission forward.

Horatio Alger Endowment Fund The Endowment Fund was established in 2011 as a separate 501(c)(3) organization to ensure the sustainability of the Association’s scholarship programs. Endowment Fund revenues derive from gifts from Members and Friends as well as investment income, transfers from annual operations, and pledges and bequests. As of December 31, 2019, the Endowment Fund had $247.4 million in invested funds and pledges and bequests totaling $45.8 million, for a total of $293.2 million.

Horatio Alger Association 2020–2021 Biennial Report 35 Endowment Fund The individuals listed below have made outright gifts, planned gifts, and bequests to both the U.S. and Canadian Associations’ endowment funds, recognizing the importance of these gifts to the future success of Horatio Alger programs and activities. Through their generosity and foresight, they are ensuring that the Association will continue to help young people for generations to come. The Association is grateful for their commitment and support.

Donors of Thomas Joseph Shannon, Jr. Gilbert Edward LeVasseur, Jr. $20 million or more Chris Sullivan Alan B. Miller T. Denny Sanford Henry B. Tippie Robert G. Miller Dennis R. Washington Byron D. Trott James R. Moffett V. Prem Watsa Jim Moran* Donors of John Pappajohn $10 million or more Donors of Harry S. Patten George L. Argyros $1 million or more James A. Patterson Paul Anthony Novelly Byron Allumbaugh* T. Boone Pickens* Lee R. Anderson, Sr. Carl R. Pohlad* Donors of Al Annexstad Nido R. Qubein $5 million or more Barbara Barrett Greg P. Renker Leon G. Cooperman Donald R. Beall Harry S. Rinker James F. Dicke II Kenneth E. Behring* Joseph E. Robert, Jr.* Joseph Neubauer Herbert F. Boeckmann II Matthew K. Rose David L. Sokol Jack H. Brown* James M. Seneff, Jr. Jordan Zimmerman Dean L. Buntrock Ronald M. Simon Doris K. Christopher Earl W. Stafford, Sr. Donors of Dominic D’Alessandro Glenn B. Stearns $2 million or more Richard K. Davidson Peter W. Stott Joseph Clark* Richard H. Driehaus Ronald C. Waranch* Dean A. Cortopassi Charles W. Durham John H. Weiland William J. Dore William F. Farley Anthony Welters Bill Greehey ́ Sam Fox David W. Wilson H. Wayne Huizenga* Terry M. Giles Mike Jackson Jack M. Gill Donors of up to $1 million Patrick P. Lee John F. Grundhofer Charles C. Anderson, Sr. Craig O. McCaw Craig Hall Robert J. Brown Lee E. Mikles Bruce T. Halle* Campus Crest Communities John A. Moran Thomas L. Harken* Robert H. Dedman* John W. Rollins, Sr.* Randall Dee Hubbard Thomas J. Donohue O. Wayne Rollins* Delores M. Kesler Eugene Fitts* Stephen C. Schott Melvyn N. Klein Michael Keebler Giroux Walter Scott, Jr. Richard L. Knowlton* Serge Godin George L. Graziadio*

*Deceased

36 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Fiscal Affairs

Thomas S. Haggai* Donors of Jack LaLanne* Ebby Halliday* up to $100,000 Sherry Lansing J. Ira Harris Todd M. Abbrecht Jeff Longstreth Venita VanCaspel Harris* Ryan Anderson Bonnie McElveen-Hunter Robert J. Hudiburg* Philip Anschutz Ed McMahon* Kenneth G. Langone Cecil Earle Baker* Sanjeev Mehra Rebecca MacDonald David A. Barr Gordon E. Moore Kevin Mitchell Stuart Bernstein R. James Nicholson Michael G. Morris Thomas J. Brokaw Indra K. Nooyi Angelo R. Mozilo Christopher Burk John C. Portman, Jr.* Jim Pattison CBS Radio Linda D. Rabbitt Marvin A. Pomerantz* Ryan Courson John Reed Frank E. Resnik* Steven Currall Virginia Renker John V. Roach William E.C. Dearden* Josue Robles Virginia M. Rometty J. Russell Flowers* Richard M. Rosenberg Charles R. Scott* Joseph Gildenhorn Larry Ruvo Delford M. Smith* Alan C. Greenberg* William G. Salatich* Jack D. Sparks* Ralph A. Hart* Lee R. Sollenbarger* Manfred Steinfeld* Paul Harvey* Joseph Solomon* David L. Steward Richard D. Holland* Mary Jo Timmons Monroe E. Trout Alphonso R. Jackson Harold Toppel* Rick Waugh Henry A. Johnson R.E. Turner Sidney D. Wolk Dee J. Kelly* Ronald Weinberg

Giving Clubs Support for the Association’s Giving Clubs underwrite Horatio Alger scholarships and educational programs. Below is information about the four Giving Clubs, followed by a list of sponsors. The years listed below sponsors’ names denote their participation in the Giving Clubs. n Founder’s Club: Members pledge $100,000 each year for five years ($500,000) in support of the Association’s scholarship programs. n Chairman’s Club: Members pledge $50,000 each year for five years ($250,000) in support of the Association’s scholarship programs. n President’s Club: Members pledge $20,000 each year for five years ($100,000) in support of the Association’s scholarship programs. n Director’s Club: Members pledge $10,000 each year for five years ($50,000) in support of the Association’s scholarship programs.

*Deceased

Horatio Alger Association 2020–2021 Biennial Report 37 Founder’s Club President’s Club Richard K. Davidson (Total: $500,000) (Total: $100,000) 2007-2021 John Paul DeJoria Gregory E. Abel Michael R. Bloomberg 2017-2021 2019-2023 2012-2016, 2018-2022 William F. Farley James Wesley Ayers Bill Greehey 2010-2014, 2019-2023 2019-2023 2007-2016, 2019-2023 J.R. Hendrick III James F. Dicke II Harold Hamm 2019-2023 2020-2024 2016-2020 Mellody Hobson James A. Haslam II Jeong H. Kim 2018-2022 2016-2020 2017-2021 Melvyn N. Klein Harvey L. Massey James R. Moffett 2008-2022 2016-2020 2013-2022 Joseph R. Moderow Harold B. Matzner Clarence Otis, Jr. 2008-2022 2017-2021 2007-2015, 2018-2022 John Pappajohn John C. Maxwell Linda D. Rabbitt 2011-2014, 2018-2022 2019-2023 2017-2022 James A. Patterson Howard M. Meyers Earl W. Stafford, Sr. 2002-2012, 2019-2023 2012-2023 2016-2020 Nido R. Qubein Roger S. Penske Henry B. Tippie 2006-2022 2017-2021 2007-2021 Isadore Sharp Rick Waugh Dennis & Phyllis Washington 2013-2022 2019-2023 Foundation 1995-2004, 2006-2010, 2012-2021 Chris Sullivan Chairman’s Club 2007-2016, 2019-2023 (Total: $250,000) William Conrad Weldon 2019-2023 Daniel Lubetzky Marcia G. Taylor 2019-2023 2017-2021 Non-Members Ann Morgan John H. Scully Sidney D. Wolk 2019-2023 2017-2021 2009-2012, 2014-2022

Director’s Club Non-Members (Total: $50,000) Melba Harken Doris K. Christopher 2007-2021 2018-2022 Milos Raonic 2016-2020

*Deceased

38 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Fiscal Affairs

2019 Excellence Gala The Horatio Alger Association of Canada was proud to host the 3rd Annual Excellence Gala on October 28, 2019. The event, which is the Canadian Association’s main source of revenue, garnered $5 million in support for scholarships. President V. Prem Watsa and his fellow Canadian Board Members extend sincere appreciation to all the Members, Life Partners, and Friends who helped achieved record support to provide opportunities and hope to young Canadians.

Donors up to $500,000 Donors up to $50,000 Fairfax Financial Holdings Limited Berkshire Hathaway Energy Canada (V. Prem Watsa) (Gregory E. Abel)

The Jay and Barbara Hennick Family Cleveland Clinic Canada (Delos Cosgrove) Foundation/Colliers International Group Inc. Janet and Wayne Gretzky Walter & Maria Schroeder Group Germain Hotels (Christiane Germain) The Dennis & Phyllis Washington Foundation Manulife (Dominic D'Alessandro) Waugh Family Foundation (Lynne and Rick Waugh)/Scotiabank Mila and Brian Mulroney

Onex Corporation (Gerald Schwartz) Donors up to $200,000 Lisa and Matthew K. Rose CGI, Inc. (Serge Godin)

Myrna & Robert J. Schlegel N. Murray Edwards

Peggy and David L. Sokol The Jim Pattison Group

Chris T. Sullivan Foundation Donors up to $100,000 Trott Family Foundation Janet and James F. Dicke II (Tina and Byron D. Trott)

Suzanne & Walter Scott Foundation

Horatio Alger Association 2020–2021 Biennial Report 39 2020 Scholarships and Educational Programs The Association is deeply grateful to its Members and Friends who are supporting Horatio Alger scholarships and educational programs in 2020. With their support, the Association is providing more young people with inspiring role models and opportunities and hope for the future made possible through education.

Donors of $1 million or more Al and Cathy Annexstad Horatio Alger Scholarship Fund Janet & Jim Dicke/Crown Equipment Minnesota State Scholarships, Leaders for Corporation Tomorrow Specialized Scholarships Ohio State Scholarships, Career & Technical Scholarships for Ohio State Scholars, Warren O. Wayne Rollins* Foundation Webster Technical Scholarships, Janet S. Dicke National Scholarships for Georgia Scholars, Specialized Scholarships, Crown Lift Technical Georgia State Scholarships Scholarships, Educational Programs Tina and Byron Trott/Trott Family Foundation Paul Anthony Novelly Ohio State Trott Family Specialized Scholarships, Educational Programs rootED Specialized Scholarships

T. Denny Sanford The Sixty Three Foundation (V. Prem Watsa) South Dakota State Scholarships, T. Denny Fairfax Financial Entrance Awards Sanford Specialized Scholarships Donors of up to $500,000 Suzanne* and Walter Scott Foundation Avenue Scholars Specialized Scholarships, Argyros Family Foundation (George L. Argyros) National Career & Technical Scholarships, California State Scholarships Canada Provincial/Territorial Scholarships, Craig and Barbara Barrett Foundation Educational Program Educational Programs Phyllis & Dennis Washington/Dennis & Phyllis Mark and Mary Davis Foundation Washington Foundation Mark and Mary Davis Specialized Scholarships State Scholarships: Colorado, Michigan, Montana, New Jersey, North Carolina, Texas, Virginia, William J. Doré Washington, Wisconsin; College of Idaho William J. Doré Specialized Scholarships Specialized Scholarships; Helen B. Miller Specialized Scholarship; National Career & Estate of Dorothy Girard* Technical Scholarships; Montana Career & Florida State Scholarships Technical Scholarships; Canada Patrick P. Lee Provincial/Territorial Scholarships; Dennis Patrick P. Lee Specialized Scholarships, Washington Leadership Graduate Scholarships Educational Programs

Donors up to $1 million Neubauer Family Foundation (Joseph Neubauer) Pennsylvania State Scholarships Aksarben Foundation Nebraska State Scholarships Stephen C. and Patricia A. Schott Foundation Santa Clara University – Schott Family Specialized Scholarships

Steward Family Foundation (David L. Steward) rootED Specialized Scholarships

*Deceased 40 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Fiscal Affairs

Krishnamurthy Tandon Foundation Donors up to $50,000 (Chandrika K. Tandon) Tandon STEM Specialized Scholarships The Brinson Foundation (Gary P. Brinson) Illinois State Scholarships Lenard B. Tessler New York State Scholarships, Tessler Family James L. Clayton Tennessee State Scholarships Specialized Scholarships The Durham Foundation (Charles W. Durham*) Uptake (In honor of Gregory E. Abel) Nebraska State Scholarshps Illinois State Scholarships William E. Greehey Vestas (In honor of Gregory E. Abel) Texas State Scholarships Iowa State Scholarships, Oregon State Scholarships The Harrington Family Foundation (Ronald Harrington) Donors up to $100,000 Ohio State Scholarships

Rosemarie and Dean L. Buntrock The Haslam Family Foundation, Inc. Illinois State Scholarships, South Dakota State (James A. Haslam II) Scholarships Tennessee State Scholarships

Joseph Clark* R.D. and Joan Dale Hubbard Foundation Educational Programs New Mexico State Scholarships

Gibson Dunn (In honor of Gregory E. Abel) Melvyn N. Klein New York State Scholarships Melvyn N. Klein Specialized Scholarships

The Goergen Foundation, Inc. Alan B. Miller (Robert Blyth Goergen) Pennsylvania State Scholarships Florida State Scholarships Clarence Otis, Jr. The Hormel Foundation (Richard L. Knowlton*) Florida State Scholarships The Hormel Foundation Specialized Scholarships High Point Community Foundation Miller Family Foundation (Robert G. Miller) (Nido R. Qubein) Idaho State Scholarships, Boise State University High Point University Specialized Scholarships Specialized Scholarships, Idaho State University Specialized Scholarships In honor of Joseph E. Robert, Jr.* Joe Robert Specialized Scholarships Lift a Life Novak Family Foundation (David Novak) Shirley Ann and Patrick G. Ryan Kentucky State Scholarships Illinois State Scholarships

Rady Family Foundation (Ernest S. Rady) CNL Charitable Foundation California State Scholarships (James M. Seneff, Jr.) Valencia College Specialized Scholarships In honor of John W. Rollins, Sr.* Delaware State Scholarships Ronald C. Waranch* Foundation California State Scholarships, Texas State Scholarships *Deceased Horatio Alger Association 2020–2021 Biennial Report 41 Donors up to $25,000 Daniels Fund (Suzanne and R. James Nicholson) Colorado State Scholarships Colleen C. Barrett Educational Programs Colin L. Powell Educational Programs The Beall Family Foundation (Donald R. Beall) California State Scholarships Michael S. Shannon Colorado State Scholarships Berkshire Hathaway Energy Canada Foundation Canada Provincial/Territorial Scholarships Peter W. Stott Oregon State Scholarships Doris K. Christopher Illinois State Scholarships Chris T. Sullivan Foundation Florida State Scholarships, Educational Programs William E.C. and Mary Dearden Foundation Educational Programs Henry B. Tippie Belle Plaine Community Schools Specialized Giles O’Malley Foundation (Terry M. Giles) Scholarship, Educational Programs Texas State Scholarships Dr. Monroe and Sandra Trout Charitable Fund Craig and Kathryn Hall Foundation Vance Cryer Marine Corps Specialized Texas State Scholarships Scholarship Robert J. Hudiburg* John H. Weiland John Hardin Hudiburg Specialized Scholarship New Jersey State Scholarships IHS Markit The Sidney and Deanna Wolk Canada Provincial/Territorial Scholarships Charitable Foundation K. Michael Ingram Massachusetts State Scholarships Arizona State Scholarships Michael B. Yanney Alphonso R. Jackson Educational Programs Educational Programs Programs funded by Horatio Alger Association Sharon and David L. Johnston of Distinguished Americans and Horatio Alger Canada Provincial/Territorial Scholarships Endowment Fund Alabama, Alaska, Arkansas, Connecticut, District Daniel Lubetzky of Columbia, Hawaii, Indiana, Kansas, Louisiana, Educational Programs Maryland, Mississippi, Missouri, New Hampshire, Nevada, North Dakota, Oklahoma, Rhode Island, Jim Moran* Scholarship Fund National Scholarships for Florida Scholars South Carolina, Utah, West Virginia, Wyoming

Mozilo Family Foundation (Angelo R. Mozilo) Programs funded by the Horatio Alger California State Scholarships Association of Canada National Entrepreneurial Scholarships, Indigenous Francis T. Nichols Achievement Scholarships, Vocational and Maine State Scholarships, Vermont State Technical Education Scholarships Scholarships

*Deceased

42 Horatio Alger Association 2020–2021 Biennial Report Governance 2020-2021 | Governance Horatio Alger Association Board of Directors

Executive Committee ENDOWMENT FUND Board of Directors CHAIRMAN & PRESIDENT CHAIRMAN Walter Scott, Jr. (1997) Charles C. Anderson, Sr. (2015) Matthew K. Rose (2013) Chairman Chairman Emeritus Retired Chairman-CEO Suzanne & Walter Scott Anderson Companies BNSF Railway Company Foundation CrossTie Capital, Ltd. Lee R. Anderson, Sr. (2014) HORATIO ALGER LRA Family LLC PRESIDENT ASSOCIATION OF James F. Dicke II (2015) CANADA PRESIDENT Al Annexstad (2010) Chairman-CEO V. Prem Watsa (2012) Chairman Emeritus Crown Equipment Corporation Chairman and CEO Federated Insurance Companies Fairfax Financial Holdings AMA Investments, L.L.C. VICE PRESIDENT Limited Gregory E. Abel (2018)* CHAIRMAN EMERITUS Vice-Chairman, Non-Insurance MEMBER-AT-LARGE George L. Argyros (1993) Businesses, Valerie Montgomery Rice (2017) Chairman and CEO Berkshire Hathaway Inc. President and Dean Arnel & Affiliates Executive Chairman Morehouse School of Medicine Berkshire Hathaway Energy Wanda M. Austin (2012) MEMBER-AT-LARGE President and CEO, retired TREASURER Greg P. Renker (2012) The Aerospace Corporation Anthony Welters (1998) Co-Founder & Co-Chairman Executive Chairman Guthy-Renker Ronald M. Bergeron, Sr. (2018) BlackIvy Group, LLC Founder and CEO Honorary Board Bergeron Land Development, Inc. IMMEDIATE PAST CHAIRMAN Members Bergeron Family of Companies Byron D. Trott (2011) Bergeron Properties & Founder & CEO Lou Dobbs (1999) Investment Corp. BDT & Company, LLC Host, Lou Dobbs Tonight Fox Business Network Robert J. Brown (1990) CHAIRMAN EMERITUS Founder, Chairman, and CEO Paul Anthony Novelly (2000) Clarence Thomas (1992) B&C Associates, Inc. Owner Associate Justice St. Albans Global Management, Supreme Court of the Arthur A. Ciocca (2000) Apex Oil Company, and United States Founder & Chairman Emeritus AIC, Limited The Wine Group, Inc.

CHAIRMAN EMERITUS Leon G. Cooperman (2015) Dennis R. Washington (1995) Founder, Chairman, and CEO Founder Omega Advisors, Inc. The Washington Companies

*Pending approval by the Board of Directors.

Horatio Alger Association 2020–2021 Biennial Report 43 Dean A. Cortopassi (2005) Bill Greehey (2001) Patrick P. Lee (2013) Owner/CEO Chairman of the Board Chairman San Tomo Group NuStar Energy Patrick P. Lee Foundation Chairman and CEO Mark E. Davis** John F. Grundhofer (1997) Lee Capital Chairman Chairman Emeritus Davis Family Holdings U.S. Bancorp Gilbert Edward LeVasseur, Jr. (2015) Don R. Daseke (2018) Edmund A. Hajim (2015) Chairman and CEO Founder & Chairman Emeritus Chairman LeVasseur Capital Partners, LLC Daseke, Inc. HighVista Strategies LLC Harvey L. Massey (2016) William J. Doré (2000) Craig Hall (2007) Chairman and CEO CEO Chairman and Founder Massey Services, Inc. Doré Energy Corporation Hall Group Craig O. McCaw (1999) William F. Farley (1986) Ronald G. Harrington (2016) CEO, Eagle River, Inc. Chairman and Owner Chairman Chairman, Pendrell Corporation Liam Ventures BioMotiv/Harrington Project Howard M. Meyers (2012) Sam Fox (2005) Randall Dee Hubbard (2014) Chairman Former U.S. Ambassador to the Chairman, Managing Director Quexco Incorporated Kingdom of Belgium BIGHORN Golf Club Lee E. Mikles (2008) Foster Stephen Friess (2012) Alphonso R. Jackson (2018)** Chairman Founder and Retired Chairman CEO First Montecito Advisors, LLC Friess Associates LLC A.R. Jackson Advisors LLC 13th U.S. Secretary of Housing Alan B. Miller (2010) Terry M. Giles (1994) and Urban Development Chairman of the Board and President Chief Executive Officer Giles Enterprises Mike Jackson (2014)** Universal Health Services, Inc. Executive Chairman Jack M. Gill, PhD (1999) AutoNation, Inc. Robert G. Miller (2012) The Gill Foundation of Texas Chairman and CEO (Retired) & Gilfin International Melvyn N. Klein (1996) Albertsons Companies, Inc. Vanguard Venture Partners Founder Melvyn N. Klein Interests CHAIRMAN EMERITUS Joseph M. Grant (2010) James R. Moffett (1990) Chairman and Partner Kenneth G. Langone (2012) Chairman Emeritus BankCap Partners Founder, President & CEO Freeport-McMoRan Inc. Chairman Emeritus Invemed Associates, LLC Texas Capital Bancshares Brian Mulroney (2012) Former Prime Minister of Canada Senior Partner Norton Rose Fulbright Canada LLP

** Pending election by the Membership

44 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Governance

Joseph Neubauer (1994) Harry S. Rinker (2003) Glenn B. Stearns (2011) Former Chairman of the Board Founder and CEO Founder & CEO Aramark Rinker Development Company Kind Lending Next Egg Group T. Denny Sanford (2016) David L. Steward (2014) R. James Nicholson (2000) Chairman of the Board Founder and Chairman Senior Counsel United National Corporation World Wide Technology, Inc. Brownstein Hyatt Farber Schreck Stephen C. Schott (2001) Peter W. Stott (2014) Clarence Otis, Jr. (2007)** Owner & CEO President Retired CEO, Darden S.C.S. Development Co. / Columbia Investments, Ltd. Restaurants Award Homes Chairman & Chief Executive Market Express, LLC. Harry S. Patten (2011) James M. Seneff, Jr. (2010) Founder, Chairman, and CEO Executive Chairman Chris Sullivan (2007) National Land Partners, LLC and CNL Financial Group MVP Holdings LLC Inland Management Patten Family Foundation Thomas Joseph Shannon, Jr. Marcia G. Taylor (2017) (2009) President and Chief Nido R. Qubein (2006) Founder Executive Officer President T-Bird Restaurant Group, Inc. Bennett International Group LLC High Point University Founder, Village Development Co. John H. Weiland (2012) Linda D. Rabbitt (2016) Vice Chairman, President, Founder and Chairman Ronald M. Simon (2005) and Chief Operating rand* construction corporation Chairman Officer (retired) RSI Holding LLC C.R. Bard, Inc. Ernest S. Rady (2018) Founder, Executive Chairman of CHAIRMAN EMERITUS Sidney D. Wolk (1999) the Board, Chief Executive David L. Sokol (2004) Founder, Chairman & CEO Officer, and President Chairman & Chief The Cross Country Group American Assetts Trust, Inc. Executive Officer Founder and Executive Chairman Teton Capital, LLC Robert L. Wright, Jr. (2009) ICW Group Insurance Chairman of the Board Chairman and CEO Companies Seaspan Corporation FE Holdings, Inc. ______Jeffrey A. Rich (2013) Earl W. Stafford, Sr. (2010) Managing Director Chief Executive Officer Terrence J. Giroux PlumTree Partners, LLC The Wentworth Group LLC Executive Director Chairman and Chief Carl H. Ricker, Jr. (2009) Executive Officer Founder, Chairman, and CEO The Stafford Foundation, Inc. Azalea Holdings Chairman, Gensys Ballasts

** Pending election by the Membership

Horatio Alger Association 2020–2021 Biennial Report 45 Horatio Alger Endowment Fund Board of Directors

Walter Scott, Jr. (1997) Anthony Welters (1998) James M. Seneff, Jr. (2010) Chairman & President Assistant Secretary Director

David L. Sokol (2004) Paul Anthony Novelly (2000) Dennis R. Washington (1995) Vice President Director Director

Joseph Neubauer (1994) Secretary

Horatio Alger Association of Canada Board of Directors

PRESIDENT VICE PRESIDENT VICE PRESIDENT V. Prem Watsa (2012) Jay S. Hennick (2019) Rebecca MacDonald (2009) Chairman and CEO Global Chairman and Chief Founder and Fairfax Financial Holdings Executive Officer Executive Chair Limited Colliers International Just Energy Group Inc. Group Inc. PRESIDENT EMERITUS Founder and Chairman VICE PRESIDENT Dominic D'Alessandro (2005) FirstService Corporation Brian Mulroney (2012) Past President and CEO Former Prime Minister Manulife VICE PRESIDENT of Canada David Johnston (2018) Senior Partner VICE PRESIDENT Chair, Rideau Hall Norton Rose Fulbright Serge Godin (2015) Foundation Canada LLP Founder and Executive 28th Governor General of Chairman of the Board Canada TREASURER CGI, Inc. Rick Waugh (2011) Retired Deputy Chairman, President & CEO Scotiabank

Horatio Alger Association of Canada Foundation

CHAIRMAN VICE CHAIRMAN SECRETARY/TREASURER V. Prem Watsa (2012) Jay S. Hennick (2019) Rick Waugh (2011)

46 Horatio Alger Association 2020–2021 Biennial Report 2020-2021 | Governance

Headquarters Staff

Terrence J. Giroux Constantine G. Kristen R. Law John Thornburg Executive Director Katsarakis Senior Director of Chief Financial Officer Associate Executive Educational & Director Alumni Programs

Membership Programs External Event Directors Margaret D. Slipek William DeVizia Manager of Membership Programs & Robert "Max" Emma Assistant to the Executive Director Awards Production and Services Lindsey B. Kihlström Membership Program Assistant & Archivist Linder Global Events, Rebecca Linder Educational & Alumni Programs Lois Haggerty Alexandra Herrera Ann Marie White Manager of Scholarship Administration Publications Jackie Rough Aaron House Biographer International Manager of Alumni and Scholar Services Jason Salas Salas Design Company Finance & Administration

Debra J. Stancil Manager of Nominations & Administration

Joyce Alimusa Accounting Manager

Horatio Alger Association 2020–2021 Biennial Report 47 Future Events

73rd Annual Horatio Alger Awards 2020 Membership and April 8–10, 2021 Board of Directors Meeting The Ritz-Carlton October 6–9, 2020 Washington, D.C. San Diego, California

74th Annual Horatio Alger Awards 2021 Membership and April 7–9, 2022 Board of Directors Meeting The Ritz-Carlton October 2021 Washington, D.C. Palm Beach, Florida

75th Annual Horatio Alger Awards State of the Association Meeting March 30–April 1, 2023 & Alumni Summit The Ritz-Carlton The National World War II Museum Washington, D.C. October 8–10, 2021 New Orleans, Louisiana 76th Annual Horatio Alger Awards April 4–6, 2024 2022 Membership and The Ritz-Carlton Board of Directors Meeting Washington, D.C. October 2022 Washington, D.C.

48 Horatio Alger Association 2020–2021 Biennial Report Our Impact

Since the establishment of its scholarship programs in 1984, the Horatio Alger Association has become one of largest, need-based college scholarship providers. 27,000 $193 MILLION 71% Scholars & Alumni in scholarships Graduation rate*

*compared to 16% national average for low-income students

SCHOLARSHIPS $21.4 Million – Estimated valued of Horatio Alger scholarships awarded in 2020 to more than 2,900 new Scholars. $16.9 $960 $3.5 MILLION THOUSAND MILLION Undergraduate Graduate Career & Technical

SUPPORT SERVICES

• College Selection & • 24/7 Mental Health & • Professional Development Financial Aid Counseling Emotional Support • Fees & Tools • College Readiness • Emergency Fund • Non-Traditional Support & Support • Personal Outreach • Alumni Association • Collegiate Partners Program • Internships/Externships • Networking & Career Mentoring • Housing Needs

2020 SCHOLAR PROFILE $25,029 3.71 51% Average Family Income Average High School GPA First-Generation College Students

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