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SOT Endowment Fund: Staying the Course
Submitted by Roger O. McClellan, Chair, Endowment Fund Board
The current global financial crisis has reached dimensions beyond the imagination of most of us and a return to stability is not yet in sight. The impact on individuals, families, communities, and institutions has been widespread. The SOT Endowment Fund, like most endowment funds with which I am familiar, has lost asset value. With this as a back drop, one of my colleagues asked if it would be appropriate to discontinue our campaign to raise funds for the SOT Endowment Fund. I quickly responded—No, it is important to stay the course.
My response is grounded on the view that the SOT Endowment Fund is a long-term venture. The stated goal for most of the individual funds is that the funds will be continued in perpetuity, i.e., forever. I am optimistic that the economy of the United States and, indeed, the world, will stabilize and return to a growth mode. Thus, I am optimistic that in the long term the SOT Endowment Fund investments will grow and increase in value. The guidelines for use of proceeds from the SOT Endowment Fund are purposefully conservative to aid in long-term growth.
In the near future, you will be receiving a copy of the 2007–2008 SOT Endowment Fund Annual Report. I encourage you to carefully read the report that documents the remarkable generosity of the many SOT members and their families who have given to the SOT Endowment Fund. The report includes details on the four General Purpose and 19 Specific Purpose Funds that are a part of the SOT Endowment Fund. A review of the descriptions of the individual funds may suggest opportunities for you to personally create a similar fund or for you to provide leadership for initiating a specific purpose fund aligned with a Specialty Section or Special Interest Group. If you have questions concerning any of these existing funds or the creation of a new fund, please contact me, Roger O. McClellan.
The Endowment Fund Board recognizes that individual SOT members and their families must be more prudent than ever in managing their financial resources, including decisions on philanthropic giving. As you consider your gifting options in the months ahead, please continue to give careful consideration to making a contribution to a fund within the SOT Endowment. We are confident that gifts to the endowment over the long-term will prove to be sound investments that will help ensure a bright future for toxicology.
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