Student Organization Finances

Student Organization Finances, Funding, and Fundraising

Check out the resources below for more information on registered student organization finances, funding opportunities, and fundraising resources! Have any specific questions? Email us at studentorgs@uky.edu.

All RSO's must comply with all applicable funding policies including:

Administrative Regulation for Student Organizations and Housing and Dining Services
Student Organization Funding Policy
Student Organization Registration Policy

Finances & Funding 101

Student Organization Budgeting

Many organizations find using a budget to be helpful to monitor fund use and plan for future events, initiatives and programs. A budget is an organization tool to plan, organize, and manage funds. Budgets are also required to apply for funding from SGA.

View an example budget template here! If you would like to use a this budget template, just save a copy to edit the document!

Bank Accounts

RSO’s may select a banking institution at their discretion! Bank accounts are not required for RSO’s. Note that 'UK' or 'University of Kentucky' may not be in the RSO account name. Banking institutions may have different requirements. To open an account, documents needed may include:

Federal Tax Identification Number (EIN) - issued by IRS.
Organization Constitution or Bylaws
Meeting Minutes Identifying Current Officers

Student Organization Funding

RSO's are able to apply for funding through the UK Student Government Association. Organizations may apply for multiple grants to reach a combined maximum total of $2,000 per fiscal year. Application information may be found on their website (www.uksga.org). Funding may only be made in the form of reimbursement. All funding requests submitted by an RSO or SSO to UKSGA shall be considered in accordance with viewpoint neutrality.

Non-Profit Status

RSOs are not legal entities of the University. Organizations are responsible for their tax-related responsibilities. RSOs can apply to be considered a nonprofit, tax-exempt organization (501c3) by visiting the IRS Charity/Non-Profit website.

Finance Regulations in Constitutions

For continuity of finances, it is best practice to include detailed rules and regulations for organization finances in the organization’s constitution or by-laws.

Employer Identification Number

An EIN is similar to a social security number for your organization. RSOs are not permitted to use UK’s tax ID number, but they may seek to obtain their own EIN. Consider using your national organization’s EIN, if applicable. Visit irs.gov and search EIN for the most current, one-time process.

Find More Information in the Student Organization Finances Handbook

For full details of applicable policies and best practices, take a look at our organization finances handbook! Also keep in mind the following when working with your finances:

The University of Kentucky does not oversee, manage or provide financial guidance to an RSO.
The choice of a banking institution is at the discretion of an RSO. Note that "UK" or "University of Kentucky" may not be in the RSO account name without written permission from the University Treasurer's office.
An RSO cannot use University of Kentucky financial banking (UK-specific accounts) and does not have access to the University of Kentucky’s nonprofit status or tax ID number.

Arrow pointing to photo of stairs that has a blue box over it with the words organization finances

Student Organization Fundraising

All student organizations must be non-profit in nature, and any fundraising requires approval of the Vice President for Student Success, or their designee, as outlined in the Administrative Regulation for Student Organization and Housing and Dining Services. The Vice President for Student Success has delegated oversight of RSO fundraising and all applicable requirements to the Office of Student Organizations and Activities and other applicable offices and/or departments.

RSOs and SSOs must disclose and submit all fundraising events in accordance with the Dean of Students Student Organization Event Policy. Approval is contingent upon generated money being given to a non-profit or educational organization or foundation. Therefore, funds generated must be given to a charity or credited to the organization's treasury.

Check out the resources below for more information on how your registered student organization can fundraise!

RSOs

An RSO may fundraise independently from the University of Kentucky. Money raised must be deposited to an external banking account that is not managed by the University of Kentucky.

SSOs

An SSO may fundraise in accordance with University of Kentucky policies. Money raised with expectation of tax deduction receipt from the University of Kentucky must be deposited to an internal University of Kentucky account that is managed by the sponsoring department or office in conjunction with Philanthropy and Alumni Engagement and donor restrictions.

Before planning a fundraising event, make sure you review the following policies:

Administrative Regulation for Student Organizations and Housing and Dining Services
Student Organization Funding Policy
Student Organization Registration Policy
Dean of Students, Student Organization Event Policy

Submit your event to the Office of University Events, Event Management System! Need help submitting? Check out FAQ's here.
After submitting to the Office of University Events, submit your event to BBNvolved! Need help submitting? Check out a how-to here.

Solicitations

Solicitations for subscriptions, sales of merchandise of any kind whatsoever, publications or services upon University of Kentucky property other than by the regularly authorized stores, food service places, departments or divisions of the University of Kentucky are prohibited except upon written permission from the Office of University Events. Any person violating these provisions shall be subject, upon proper notice, to eviction from the University of Kentucky property.

Alcohol Sales

In accordance with the Dean of Students Student Organization Events Policy, philanthropic and/or fundraising events that also incorporate alcohol sales as part of their fundraising efforts must have appropriate liquor licensing and comply with local city, state, and venue requirements. The fundraising profits from alcohol cannot be the primary or majority source of profit.

Event Naming

When soliciting donations, grants or other funds, an RSO must not imply or explicitly claim a false affiliation with the University of Kentucky. Therefore, RSOs are required to clearly inform potential donors that contributions are not tax-deductible through the University of Kentucky.

Student Organization Finances

Student Organization Finances, Funding, and Fundraising