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University Campus Life Programs |
Registered Student Organizations |
| Tax and Legal Compliance |
Reporting handled through University department. |
Organization is taxable unless it has formally
applied to the IRS for tax-exempt status. |
| All University exemptions and tax benefits available
to the campus life student group (such as non profit and tax exempt status). |
Must register with state and file annual returns
independently from the University if groups has more than $25,000 income. |
| If currently incorporated, need to dissolve entity
and re-file final returns |
Must handle compliance matters independently from
University. |
| Liability Insurance |
Covered by University |
If desired, need to purchase general liability insurance and possibly other forms of insurance, sucah as workers compensation insurance. Requires formal use agreement with University Real Estate for most use of University space. The formal use agreement not required for Student Union spaces. |
| Employees |
Employees are University Employees. |
Purchase or contract payroll services from an
external vendor; entity responsible for timely and accurate payroll
reporting to IRS. |
| Utilize University payroll system and reporting
infrastructure, no independent withholding and reporting responsibilities. |
No student FICA exemption; independent benefits programs; may purchase University Services. |
| Student FICA exemption eligibility, employment
benefit programs available. |
| Payment to Vendors |
Can use University disbursement function to create
payments to vendors; small vendors paid within 3 days. |
Organization would pay vendor from independent bank
account; retain own check register. |
| University purchasing card may be available to
facilitate purchasing process. |
Organization subject to sales tax on purchases. |
| Exemption from sales tax on University purchases. |
| General Financial Management |
Student group must have all financial transactions
recorded in University’s financial system; no external checking account allowed |
Separate general ledger for organization required. |
| No independent financial statement compilation
and/or independent audit requirements. |
Independent financial statement and, possibly
independent audit requirements. |
| Department assumes liability for all student group
activities and finances (debts) |
Not allowed to utilize University’s financial system |
| Other |
Must be affiliated with a University department and
have a faculty or staff advisor that has an on-going relationship with the
group. |
No advisor required, but encouraged. |
| Allowed to represent themselves as conducting official University business. |
Not allowed to represent themselves as conducting official University business or as a unit or agents of the University. |
| Not allowed to use University letterhead,
stationary, or the University wordmark (in print, clothing, email, websites,
or as part of their name) |
