Educator Kenneth Beebe founded the association in 1946. Named for the Gilded Age American author Horatio Alger, the association espouses the “rags to riches” philosophy woven through his books — the idea that anyone who works hard can succeed, regardless of circumstances. The group has presented the Horatio Alger Award to a new class of about 10 to 12 people annually. Since 1984, the organization has given college scholarships to high school students “who fit the Horatio Alger profile.” Upward of $245 million has gone to more than 35,000 students.