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President’s Message: SOT Budget Considerations Affecting All Members

By Dori Germolec posted 08-31-2023 13:56

  

In a message last week, I shared how SOT Council decided to streamline some operations for the 2023–2024 budget year by pausing funding for a handful of programs while discontinuing a few. In this message, I want to share some budget updates that affect all SOT members.

First, SOT remains in a strong financial position because of the wise investments and budget strategies of previous SOT Councils. I am grateful to them and hope you are, too, for their strong leadership, forethought, and contributions that have helped the Society thrive, as well as survive. The Society successfully navigated the COVID pandemic and has continued to provide many of the resources, services, and activities that our members value.

Associations like ours face continuing challenges because of altered business models and member expectations, as well as increased expenses resulting from inflation that is affecting individuals worldwide. With these factors in mind, SOT Council took a very conservative approach to this year’s budget planning process—decreasing our planned spending by 2% while billing rates and the cost of goods rise. This decrease represents Council’s desire to protect the Society’s assets while continuing to provide value to its members and furthering the SOT mission.

To continue to maintain the quality of the SOT Annual Meeting through the participation of foremost experts in associated non-toxicology fields and deliver member-requested resources, such as on-demand recordings of all the Featured and Scientific Sessions during the SOT Annual Meeting—to name just two of the activities that make SOT a preeminent scientific association—SOT Council made the difficult decision to increase membership dues for 2024. This is the first membership dues increase in almost a decade for Full and Associate members, and the first increase for Postdocs and Students in 15+ years. The dues will increase by $25 for Full and Associate members, $15 for Postdoc members, and $10 for student members, starting with the 2024 membership year. If these changes affect your ability to continue your membership, please contact SOT Headquarters to inquire about dues waivers.


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