Finances and Fundraising

 

 

This page contains information and tools related to RSO finances and fundraising.  Please refer to the appropriate section for more information.  If you cannot find the information you need on this page, please contact the Office of Student Activities.  You can visit the office in the Arkansas Union, room A665 or contact the office at 479-575-5255 or rso@uark.edu

  • Financial Overview for Departments wishing to support a Registered Student Organization 
  • On-Campus Charges - link for departments billing RSOs
    • Message for RSOs:

    • If your RSO is planning to use campus space, you may incur charges. These charges are most often paid through your RSO Checking Account, also known as a “cost center number” around campus, unless you have departmental or ASG funding for the reservation. To ensure a smooth process, please familiarize yourself with the On Campus Charges policy and note the following important steps:

      Before the event

      1)      Request your space.

      2)      Provide your RSO Checking Account Number (“cost center number”) for billing if your RSO is paying for the space yourself. (Please see the Checkwriting Policies for more information about locating your account number.)

      1. If the event is funded by ASG you will be provided with information at your packet pickup.
      2. If you have departmental funding to pay for a room, please see the appropriate accounting staff member in the department to obtain the proper information. (Please see the Financial Overview for departments supporting an RSO to understand how this process works.)
      3. Note: ASG or departments cannot transfer money into your RSO account, so please ensure that the billing is set up appropriately at the time of your reservation.

      3)      Request an estimate of charges via email (this may be provided automatically – you will need to watch for this and follow up if you do not get the estimate.)

      4)      Provide approval via email. This should be done before the reservation is confirmed.

      5)      Ensure you have the appropriate balance in your account, if the billing is coming from your cost center number.  

      After the event

      6)      Provide approval for any charges over the estimated amount (you can be automatically billed if the department makes two attempts to gain approval.)

  • Fundraising Guidelines
    Notification of Fundraiser/Philanthropy
    Checkwriting Policies for RSO Checking Accounts
  • ASG Finances and Funding Guide

 

RSO Tax-Exempt Status, W-9s, and EINs

RSO’s often ask us about tax-exempt status or W-9 forms. Please note that your RSO cannot give tax-exempt receipts to donors, unless you have formed your own 501c3 (nonprofit) or have been granted that status by your national organization.

Because RSO’s are separate from the University, you are unable to use the University’s EIN number per University policy. This means that you cannot complete a W-9 or anything that requires an EIN or Tax ID number, unless you have non-profit status as noted above.

If you have any questions please feel free to contact the Office of Student Activities.

The University of Arkansas Legal Clinic is accepting applications from Registered Student Organizations who wish to apply for non-profit status. To begin the process, please complete this application and submit to the Office of Student Activities, Arkansas Union A665.

 Commercial Solicitation

If you invite an outside business to come to a meeting to help fulfill a need of your organization, this may be acceptable, but outside businesses  should not approach students or student groups to invite themselves or to offer money, products, or event sponsorship in return for access to your organization.

The Commercial Solicitation Policy prohibits private commercial business activities on University premises.  Exceptions are the annual RazorBash Festival held during Welcome Weeks (and for off-campus properties, Housing Fairs coordinated by Off Campus Connections).  

To summarize - Organizations should never feel that you must endure solicitation by outside businesses who want access to your RSO or living group. If this happens, we ask that you report the incident to your faculty/staff advisor and the Office of Student Activities.

Fundraising

RSOs may raise money for their organizations through fundraisers. Fundraisers often take the form of selling items or services, selling tickets to an event, accepting donations, or asking for sponsorships from local businesses. We encourage you to get creative with your fundraising ideas!

To host a fundraiser:

1. Fill out the Notification of Fundraiser/Philanthropy Form.  Return it to the Office of Student Activities at least 2 weeks prior to your fundraiser.

2. If it is on-campus, reserve your space.  If you're not sure how to do that, consult the Event Planning Portal for links to reserve various spaces on campus.

3. Hold your fundraiser

4. Deposit funds raised to your account in the Treasurer’s Office within 2 weeks

Please review the Fundraiser Guidelines for complete policies and procedures related to fundraising.

Fundraisers are meant to help your organization accomplish its objectives. Please remember that all fundraisers must benefit the organization, not an individual or individuals.

ASG Funding

Each year, student fee money from the Associated Student Government (ASG) budget is allocated to RSO’s who apply for funding for special events/programs, conference attendance, and/or administrative supplies.  Monies appropriated to RSO’s must be used to promote a diverse array of programs and events, facilitate intellectual engagement, encourage collaboration between students and/or student groups, and/or foster campus community.  To learn more about ASG funding and how to apply, visit the ASG Office of Financial Affairs Website. 

Fundraisers and ASG Funding

It is important for you to understand that your RSO bank account is separate from any ASG funding you may receive. ASG funds will never go to your RSO bank account because they must be spent for a very specific purpose.

ASG-funded events may NOT be used as fundraisers. Because they are paid for with student fees, all ASG-funded events must be free and open to any student who wants to come. As an RSO, you aren’t allowed to sell items at the event, set up a donation jar, or sell tickets to students.

However, you are allowed to fundraise in the days before your ASG-funded event to help supplement your budget. For instance, if you would like to pay for an item (such as additional decorations or costumes), you may fundraise or use money out of your RSO bank account to supplement the funding you receive from ASG.

For a complete list of fundraiser/philanthropy policies, please see the Student Handbook.

Philanthropies

With a philanthropy, an RSO raises money to make a donation to a non-profit or charity. The process for hosting a philanthropy event is the same as for hosting a fundraiser. All funds raised must be deposited into the RSO’s on-campus account. After all funds are deposited, the RSO may request a check addressed to the non-profit or charity.