On behalf of the Endowment Fund Board, I am pleased to report the creation of three new endowment funds and the availability of SOT matching funds in the coming fiscal year!
Three New Funds
Last week, SOT Council ratified three new Endowment Named Funds:
- Yves Alarie Scholarship Fund (managed by the Computational Toxicology Specialty Section)
- William M. Baird Travel Award Fund (managed by the Pacific Northwest Regional Chapter)
- James A. Swenberg Carcinogenesis Merit Award Fund (managed by the Carcinogenesis Specialty Section)
The purposes of the funds are as follows:
- Yves Alarie Scholarship Fund: The purpose of this fund is to encourage members of underrepresented groups to pursue careers in toxicology, particularly with a focus on developing or applying computational toxicology methods and tools. This fund was established to acknowledge Dr. Yves Alarie, a pioneer and leader in the field of inhalation toxicology who laid the foundation for applying computational approaches to this field.
- Dr. William M. Baird Travel Award Fund: The purpose of this fund is to encourage the attendance of students, postdocs, or young investigators from the Pacific Northwest region to present their work at toxicology-oriented scientific meetings, such as the SOT Annual Meeting. This fund was established to acknowledge the pioneering work and contributions of Dr. William M. Baird to the field of polycyclic aromatic hydrocarbon toxicology and carcinogenesis.
- James A. Swenberg Carcinogenesis Merit Award Fund: The purpose of this fund is to encourage junior faculty members to conduct mechanistic research in the field of carcinogenesis. This fund is named after Professor James A. Swenberg, who had a distinguished career in toxicology and made seminal contributions to the field of biomarkers of DNA damage and understanding of how environmental agents may cause cancer through genotoxic mechanisms.
Overview of the FY 2019–2020 Matching Funds Distribution Process
SOT Council has authorized $45,000 for the purpose of matching donations to the SOT endowment during FY 2019–2020. These FY 2019–2020 matching funds become available for use on July 1, 2019, and we have outlined the process and timelines for matching contributions.
Donations submitted to the online donation portal or in person at SOT Headquarters in Reston, Virginia, on or after July 1, 2019, will be prioritized for FY 2019–2020 matching as follows:
During the period of July 1 through September 30, 2019, donations made to “Temporarily Restricted Net Asset Funds” will be given priority for matching over donations to “Permanently Restricted Net Asset Funds.”
The following Temporarily Restricted Net Asset Funds are currently eligible for priority matching funds starting on July 1 (until they become permanently restricted):
- Future of Regulatory and Safety Evaluation Endowment Fund
- The Legacy Travel Award Fund
- Mitzi and Prakash Nagarkatti Research Excellence in Immunotoxicology Award Fund
- Yves Alarie Scholarship Fund
- Dr. William M. Baird Travel Award Fund
- James A. Swenberg Carcinogenesis Merit Award Fund
Temporarily Restricted Net Asset Funds are those funds that have not yet reached the $50,000 threshold for becoming permanently restricted, endowed funds. Starting July 1, donations to Temporarily Restricted Net Asset Funds will be matched in the order of receipt until the $45,000 in matching funds is expended. In the event that SOT matching funds are still available on October 1, 2019, donations to Permanently Restricted Net Asset Funds will be matched retroactively in the order they were received beginning on July 1, 2019. SOT Endowment Fund definitions are summarized on the SOT website.
Endowment Fund Matching Funds Status
In 2018, SOT Council informed the Endowment Fund Board of the intention to phase out the Endowment Fund Matching Contribution Program, which has been tremendously helpful in building a collective Endowment Fund balance of approximately $4 million. The $45,000 available on July 1, 2019, represents the last of those funds available for matching donations under the current program. Therefore, the Endowment Fund Board expects there to be increased interest in leveraging these matching funds.