The SOT Endowment Fund aids toxicology and toxicologists through a series of funds that support SOT programs and members. SOT bears the administrative expenses of the Endowment Fund, assuring that every dollar contributed goes directly to support programs.
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The SOT Endowment Fund has a mission of assisting in advancing the science of toxicology by providing financial support for the Society’s programs. It houses multiple funds established for different purposes and with contributions from multiple sources.
There are Society Funds and Named Funds. The Society Funds are aligned with the long-term strategic objectives of the Society and provide resources to realize the vision established for the Fund “to establish an increase in net worth a set of Endowment Funds that will provide significant, stable, long-term financial support that complements the Society’s revenues from dues and other sources, to aid in achieving the Society’s strategic objectives.”
Go to: Endowment Fund Governance
These funds have donor-imposed purpose and time restrictions on the use of the funds. The Endowment Fund Board has established $10,000 as a minimum contribution(s) to create a Temporarily Restricted Fund. If matching funds are available, the required minimum may be reduced by the amount of either the SOT or employer matching funds. The minimum level may be contributed by one or more donors. It must be contributed within three years. If the minimum is not achieved, the contributed funds will be released for use consistent with the stated purpose of the donors. The total assets of a Temporarily Restricted Net Asset Fund will typically be expended over a period of 10 years or less.
Either type of fund can be created by a contribution from one or several donors who identify the purpose for which they would like to see the proceeds from the fund used. The initial donor(s) may elect to leave the fund open to receive additional contributions from other individuals or elect to restrict the fund to their initial contribution and perhaps their intended subsequent contributions.
In late 2006, SOT membership approved Bylaws Amendments that created the SOT Endowment Fund and the SOT Council ratified the related Endowment Fund Policy Guidelines. The Bylaws Amendments and Policy Guidelines were developed by the Endowment Implementation Task Force chaired by I. Glenn Sipes. Other members of the Task Force were Norbert Kaminski, James Klaunig, Roger McClellan, James Popp, Rick Schnellmann, and Jacqueline Smith.