History of SOT Endowment Fund
In late 2006, the SOT membership approved By-Laws Amendments that created the SOT Endowment Fund and the SOT Council ratified the related Endowment Fund Policy Guidelines. The By-Laws Amendments and Policy Guidelines were developed by the Endowment Implementation Task Force chaired by Glenn Sipes. Other members of the Task Force were: Norbert Kaminski, James Klaunig, Roger McClellan, James Popp, Rick Schnellmann, and Jacqueline Smith. With the By-Laws Amendments and Policy Guidelines approved, the SOT Endowment Fund quickly became an operational reality.
The SOT Endowment Fund has a “mission of assisting in advancing the science of toxicology by providing financial support for the Society’s programs. The vision for the SOT Endowment Fund is to establish and increase in net worth a set of Endowment Funds that will provide significant, stable, long-term financial support that complements the Society’s revenue from dues and other sources, to aid in achieving the Society’s strategic objectives.” The management of the Society’s Endowment Fund is vested with an Endowment Fund Board. All actions related to the Endowment Fund originate with the Endowment Fund Board and are subject to ratification by the SOT Council. Responsibility for investing the assets of the SOT Endowment Fund are vested with the SOT Finance Committee with input from the SOT Endowment Fund Board.
In accordance with the SOT By-Laws, four positions on the Endowment Fund Board are filled by individuals by virtue of their immediate past service as either President or Treasurer of the SOT. Each fiscal year, the Society’s Immediate Past President begins a two-year term as a Board Member. Every other year, the Society’s Immediate Past Treasurer begins serving a four-year term as a Board Member. Each year the incoming President of the Society appoints to the Board one individual to serve a three-year term from among the Society’s Past Presidents, Past Treasurers, Past Council Members and substantial contributors to the Endowment Fund. Three individuals serve as ad hoc (non-voting) members of the Endowment Fund Board; the current SOT President, the current SOT Treasurer and the Society’s Executive Director, Shawn Lamb. The Society’s Deputy Executive Director, Clarissa Russell Wilson and the Society Legal Counsel, William Hays, provide staff support to the Board.
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