It’s an honor to be a part in the formation and operation of the SOT Endowment Fund. As a former SOT Treasurer, I remember looking at many worthy programs and requests for operating funds with no new sources of revenue to keep our budget balanced. Often difficult choices needed to be made on how to fund new initiatives while maintaining equally worthy existing programs. The formation of the SOT Endowment finally provided the way to create a new and stable significant source of income.
The Endowment Fund consisted of 24 specific purpose funds and 4 Society Funds on June 30, 2009, our fiscal year-end. We are grateful to those who contributed financial support and leadership in creating 5 new specific purpose funds, and to the 250 individuals, families, and organizations who generously donated nearly $150,000 to the SOT Endowment Fund during this challenging economic time. We thank the SOT Council who authorized a “SOT 50th Anniversary Match” that doubled the impact of each contribution. As a result, we now have 21 Specific Purpose Endowment Funds that meet the criteria of Permanently Restricted by having contributions totaling $25,000 or more.
Although most investments did not grow last year, the SOT Endowment Fund Portfolio with a total loss 18.22% fared slightly better than the Standard & Poor benchmark loss of 19.50% for the interval of July 1, 2008 to June 30, 2009. As a result, the SOT Endowment Fund had total assets of $869,256 on June 30, 2009.
Nevertheless, over $10,000 in awards were made to 22 individuals (mostly students and postdocs) from 12 Permanently Restricted Specific Purpose Endowment Funds at the SOT 2009 Annual Meeting in Baltimore. Likewise, for the SOT 2010 Annual Meeting, the Endowment Fund Board again authorized expenditures of up to 4% from the 21 Permanently Restricted Named Funds to provide awards at the SOT 2010 Annual Meeting.
As you view the information about our current family of Endowment Funds, we hope you see our optimism for the SOT Endowment Fund, the enthusiasm of the 2009 awardees, and a collective commitment to investing in the future of the SOT that has played such a meaningful part in our lives. We ask that you consider the wide array of gifting options available and make a personally meaningful contribution to the Endowment Fund. Every gift helps us grow the Endowment Fund and your gift has twice the impact as long as the “SOT 50th Anniversary Match” is available. Your contribution will help the SOT Endowment Fund reach the one million dollar threshold of contributions and matching funds, a testimonial to the generosity of toxicologists and other supporters of the science of toxicology.
On behalf of the SOT Endowment Fund Board and the entire Society, we thank all contributors to the SOT Endowment Fund. We’re also grateful to Roger McClellan and his tireless leadership in advancing the SOT Endowment Fund, and to the numerous SOT members, committees, groups, and Headquarters staff who have supported the Endowment Fund Awards and process. Your commitment and generosity, especially during this challenging economic time, will help nurture the Society’s second half century of achievement in advancing the science of toxicology.
Jacqueline H. Smith
Chairperson, SOT Endowment Fund Board |
Jacqueline H. Smith |
