The Horatio Alger Association of Distinguishe Americans was founded in 1947 to honor the achievements of outstanding Americans who have succeeded in spite of adversity and emphasize the importance of higher education. The association is named after Horatio Alger, a 19th century author of hundreds of dime novels in the "rags-to-riches" genre, extolling the importance of perseverance and hard work. The association gives the annual Horatio Alger Award to exemplars of its ideals and is the largest provider of need-based scholarships in the United States. All scholarships are funded by the generosity of the members of the Horatio Alger Association.