Philadelphia Entrepreneur and Generous Philanthropist James J. Maguire Sr. to Receive 2015 Horatio Alger Award
Horatio Alger Association names 12 exceptional leaders, each of whom has overcome significant adversities in achieving personal and professional success, to its Member Class of 2015
WASHINGTON, Dec. 4, 2014 /PRNewswire/ -- Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that James J. Maguire, Sr., founder and chairman emeritus, Philadelphia Insurance Companies and president of the Maguire Foundation, has been selected for membership in the prestigious organization. Mr. Maguire joins eleven other accomplished business and civic leaders from across North America in receiving this honor in 2015. Since its establishment in 1947, the Horatio Alger Award is annually bestowed upon renowned leaders who have succeeded despite facing adversity, and who are committed to philanthropy and higher education.
Mr. Maguire was born in Philadelphia, the third of six children. As a teenager, Mr. Maguire was devastated when his father, who was his biggest supporter, suddenly passed away. Although a poor academic student, Mr. Maguire was an excellent basketball player and he received a scholarship to Niagara University. But, despite his efforts, failing grades caused him to lose his scholarship and transfer to St. Joseph's University in Philadelphia, where his family had relocated after his father's death. His grades were again extremely low, causing him to be ineligible for a student draft deferment. Subsequently, he was drafted into the Army and spent nearly two years in the Korean War. Upon his honorable release from service, he returned to St. Joseph's on the GI Bill but continued to struggle academically. It wasn't until Father Hunter Guthrie, a Jesuit and early pioneer in the study of dyslexia, took a special interest in Mr. Maguire who he realized was dyslexic. Determined to succeed, he worked with Father Guthrie to address his learning issue and ultimately graduated in 1958.
Mr. Maguire began his career at MetLife as a salesman and in his first year earned the President's Club Distinction – a recognition reserved for only 175 of more than 29,000 MetLife salesmen. Based on his success in the insurance industry, Mr. Maguire went on to establish Maguire Insurance Agency Inc. in 1960. By the mid-1970s, the company expanded to 15 offices across the country, and subsequently began operating as Philadelphia Insurance Companies. The company offered insurance to non-profit social service agencies and health and fitness clubs – two niches, which remain at the core of its business today. After going public in 1993, the business employed 1,600 people in 50 offices. In 2008, the business merged with the Tokio Marine Group, which was considered one of the largest transactions for financial firms in Japanese history.
"Jim Maguire is a perfect reflection of the principles upon which Horatio Alger Association has been built," said Tony Novelly, president and CEO, Horatio Alger Association and 2000 Horatio Alger Award recipient. "His unparalleled work ethic and personal resilience are the driving forces of his professional success. Yet, what is most remarkable is the generosity that has come to define Mr. Maguire's life. We are proud to welcome such an exemplary individual as a lifetime Member of the Association. Jim will serve as an outstanding role model to our Scholars – past, present and future."
A thoughtful and active philanthropist, Mr. Maguire and his wife, Frannie who are parents of 9 children and have 22 grandchildren, established the Maguire Foundation in 2000. The Maguire Foundation has since given more than $80 million in grants to educational, human service, and cultural institutions primarily in the Greater Philadelphia area. The Foundation's centerpiece, the Maguire Scholars Program, provides need-based scholarships to more than 1,000 students per year across the mid-Atlantic region. Mr. and Mrs. Maguire are also principal donors to their respective alma maters, St. Joseph's University and Gwynedd Mercy University, to which they have generously given $25 million for campus expansion campaigns. Mr. Maguire also wrote his autobiography titled, "Just Show up Every Day," which chronicles the history of his business, his family and his personal struggles with dyslexia.
In accepting this honor, Mr. Maguire commented, "Horatio Alger Association has long been the vanguard among organizations committed to higher education and preserving the American Dream. As an individual who values both deeply, I look forward to supporting this important cause, which I believe to be vital to our nation's long-term success."
In addition to presenting its annual award, Horatio Alger Association administers one of the largest, privately-funded scholarship programs for students in the United States and Canada. These students, like the Members, have faced significant adversities, but have persevered and are determined to overcome life's challenges. Scholarships are wholly funded through private donations from Members, Life Partners and friends, and since 1984, the Association has provided more than $100 million to promising students in need.
Mr. Maguire and the Member Class of 2015 will be officially welcomed into the organization during the 68th Annual Horatio Alger Award Induction Ceremonies in Washington, D.C. April 9-11, 2015. In addition to recognizing these tremendous leaders, Horatio Alger Association will also honor its 2015 National Scholarship recipients, affording both groups the opportunity to meet and learn from one another.
For more information about Horatio Alger Association and a full list of its Class of 2015, please visit www.horatioalger.org.
About Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc., fulfills its mission of honoring the achievements of outstanding individuals who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. Horatio Alger Association supports students through annual undergraduate and graduate need-based scholarships and mentoring programs across the United States and Canada. Since 1984, the Association has awarded more than $100 million in college scholarships to deserving young people. For more information, please visit www.horatioalger.org.
CONTACT:
Meg Kane
484-385-2938 (office)
[email protected]
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SOURCE Horatio Alger Association of Distinguished Americans, Inc.
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