Finances
SOMA is a federally registered charity (BN/Registration Number 119157501RR0001), and its information/T3010 returns for fiscal years 2000-2008 can be found here. SOMA’s annual budget is approximately CDN$55,000, with approximately 60% of the budget representing banquet and opening/closing ceremonies expenditures, 20% representing occupancy costs at the University of Toronto, and 15% representing printing and materials costs. 5% of our budget is reserved for incidental expenses, as SOMA’s bylaws explicitly forbid the organization from assuming debt. SOMA has never remunerated its Secretariat.
Delegate fees are currently set at CDN$105 per participant. SOMA is looking into ways of cutting the cost for future years, through possible changes such as corporate sponsorships or modifications to the banquet.
