Most of us outgrow Beanie Babies around the time we hit puberty. But for Stern sophomore David Niederhoffer, the small pink elephant (permanently housed in his backpack) is more than a relic of the past.

The Elephant Project, Niederhoffer's brainchild, raises money by auctioning off pictures of celebrities holding an elephant Beanie Baby. He founded the organization in 2006 when he decided to combine his knack for celebrity sightings with his will to somehow alleviate the plight of Alzheimer's patients such as his grandfather, who passed away from the disease.

"It was actually a friend of mine who tied in the saying 'elephants never forget,' and things just snowballed from there," Niederhoffer said.

Niederhoffer said he isn't a typical NYU student — "if there is such a thing," he said. After all, not many can claim to have single-handedly raised more than $20,000 for a worthy cause at the age of 18.

Between a packed schedule of Stern classes and the daily grind of living in New York City, Niederhoffer still manages to run a full-fledged organization by himself. But he said living in the city and going to NYU is a blessing.

"Had I gone to any other school, the project would probably have ended. But here in New York, these things just happen," Niederhoffer said. "I just keep my eyes open for events, shows, CD signings, book signings, etc. I was at a restaurant once and Adam Sandler was eating two tables away from us. Another time, Dr. Phil sat in front of me at a Broadway show."

Niederhoffer gathers celebrity pictures and autographs all year, and auctions them off in batches every few months. The most recent batch brought in more than $2,000. So far the highest-earning celebrities have been Kristin Chenoweth (cumulatively over $1,000) and Gerard Butler (whose single photograph recently sold for $535).

There are some drawbacks to such enterprise.

"Obviously, time is an issue," Niederhoffer said. "Right now, I do everything by myself, with a few friends' help. I don't want to depend on anybody I don't trust wholly."

The Elephant Project, which does not hold official non-profit status yet, functions by raising funds and sending them to the Alzheimer's Association. Aside from his goal of developing his organization into a self-reliant non-profit, David has other plans.

These ideas include a benefit concert and an official NYU club — to be named the Elephant Coloring Project — through which students and celebrities alike color in blank white elephant silhouettes that are then auctioned off (the casts of "Wicked" and "Glee" have already participated in this).

Aside from raising money for research and treatment, one of Niederhoffer's highest priorities is to raise awareness among young people.

"It's rare, but people as young as 40 get Alzheimer's," he said. "It is treated as though it is not as relevant as cancer or AIDS, but it is."

Niederhoffer said he hopes to continue the Elephant Project after he graduates.

"But that's a long way off. It depends on what kind of job I get, and I don't even know what I'm majoring in yet," he said. "But one way or another, hopefully by the time this generation is old enough to get Alzheimer's, there will be a cure for it, and my work will have been successful."

The Elephant Project can be tracked on Twitter (@elephantproject), Facebook (search "The Elephant Project") and at elephantproject.org.