RSOs and their officers are responsible for requesting, maintaining, and appropriately using funding from any source. Officers are required to adhere to a variety of rules when using funding and these rules vary depending on the source of the funding. The RSO Treasurer and President are ultimately responsible for all finances though all officers, including advisors, should be mindful of financial regulations and the financial health of their RSOs.
RSOs finance their operations in a variety of ways including but not limited to: Student Activity Fee Allocations, Member Dues, Fundraising, External Donations & Sponsorships, Campus Funds, and Department Funding. Below you will find resources pertaining to funding sources, banking, and financial management.
Campus Sources of RSO Funding
The Student Activity Fee (SAF) is a semesterly charge on the Student Bill that is used only for enhancing campus life for students at Michigan Tech. A portion of all SAF funds are administered to Open RSOs, by the Undergraduate Student Government. To learn more about requesting a budget from the SAF contact usg-treasurer@mtu.edu.
To see how to utilize your budget through Involvement Link, review the Purchase Request Tutorial.
The Opportunity Fund, administered by USG, is money set aside from the Student Activity Fee (SAF) which RSOs may access once during each academic year. This fund can assist new RSOs who may have missed the previous SAF funding request cycle or existing organizations who learned of a new opportunity that was not included in their initial budget request. The Opportunity Fund is accessible to all Michigan Tech RSOs seeking to sponsor campus-wide events or initiatives. To learn more or submit and Opportunity Fund Request click here.
The Reserve Fund, administered by USG, is money set aside from the Student Activity Fee (SAF) which RSOs may access once during each academic year. The primary purpose of the Reserve fund is equipment replacement costs, equipment upgrade costs, and equipment safety concerns. This fund is earmarked for emergencies within your RSO especially those pertaining to the health and safety of students. To learn more or submit a Reserve Fund Request click here.
The Tech Parents Annual Fund, administered through the Division of Student Affairs, was instituted in 1998 in an effort to support student organizations. To request support from the Tech Parents Annual Fund for an event, program, travel, or equipment purchase, complete the online request form and submit the required supporting documentation. For more information about the Tech Parents Annual Fund, contact Rob Bishop or visit the Parents Fund page.
RSOs planning cultural programs or events may request financial support from the Cultural Events Fund, administered by Student Leadership and Involvement. The purpose of the Cultural Events Fund is to increase the campus community's knowledge and/or appreciation of various cultures by providing financial support for student-driven events and activities. For guidelines and to apply online click here. Email culturalevents@mtu.edu for more information.
If your organization is made up of more than 50% graduate students, once per semester, you may be eligible for funding through the Graduate Student Government (GSG). To request GSG Discretionary Funding you must submit the Discretionary Funding Request Form. Email gsg@mtu.edu for more information
If your RSO’s mission, or an event your RSO is planning, align with a Michigan Tech department (academic or non-academic), you may be able to request sponsorship. This is not guaranteed funding or support and each department has rules for funding RSO operations and events. Reach out to potentially interested departments politely requesting support or touch base with your advisor, faculty members, and staff.
RSOs may choose to change a membership due in order to supplement funding. For questions about membership dues please contact rso@mtu.edu
RSO Fundraising
When fundraising for charity it is important that RSOs keep careful records and have a well laid out plan for how these donations or proceeds will be handled. There could be very serious consequences, both academically and legally, if these donations or proceeds are not: handled very carefully, in a timely fashion, and in accordance with how the event was presented to the public and the charity.
For food sales, other than bake sales, on or off-campus your RSO must follow all food and alcohol policies, including approval from the Associate Vice President for Administration. See the Bake Sale Procedure for more info.
You must apply for a Raffle license from the State of Michigan before your event and wait for approval. Learn about raffle rules and apply for a license on the State's Charity Gaming website. Please note, it takes four to six weeks for the application process. There are opportunities to learn about raffle events and the license process. Review the MI Charity Gaming's training slide deck and reserve a training date on their website.
Bingo, as with all Charitable Gambling, is regulated by the State of Michigan. Learn more about hosting a Bingo game and the State of Michigan's policies on their website.
Looking to run a 50/50 at a sporting event on campus? Fill out this form and Athletics will be in touch!
Must follow all Hazing and Conduct Policies and you must have a Risk Management Plan if the event is to occur on campus.
Donations to RSOs
Corporate Relations partners with RSOs seeking funding from corporations. Corporate Relations can match you up with a corporation who is interested in sponsoring your event. Generally, you will need to submit a page long write-up with the details of your request, the outcome desired, and how the sponsor will be recognized. Email industry@mtu.edu for more information
Donated funds are visible on your organization's Involvement Link Finance tab. You can request to use these funds by completing a purchase request in the same way that you request to utilize your organization budget. These funds can be used for items whether or not they are on your RSO's budget, as well as expenses not typically permitted by USG such as food and giveaways. All purchases must still be justified with receipts, invoices, quotes, etc. If used for an advancement, a quote or some evidence of where the funds will go is required beforehand, a receipt is required after purchase (within 6 weeks), and any unused funds must be returned. If expenses are being used for a meal the Business Meal Report must be filled out and an itemized receipt included. All reimbursements must be in the same fiscal year and requested within 90 days.
If you have questions, reach out to the Student Organization Coordinator who can be reached at rso@mtu.edu or found in MUB 112.
RSO Banking
Registered Student Organizations often use private banking institutions to manage organizational funding. In cases where RSOs are receiving Student Activity Fee (SAF) funds, a bank account is required, as all funds will be issued in the name of the organization and not an individual. Setting up a bank account requires an EIN (see next section).
Student Leadership & Involvement does not keep record of banking information for RSOs so it is important that necessary information is passed down to new leadership and documented. Advisors should know what bank the org uses at a minimum. Organizational funds held in private bank accounts are not subject to the same rules and regulations as SAF funding. Organizations with questions should reach out to rso@mtu.edu.
Once a bank account is set up, we highly advise groups to set up direct deposit so they can get funds transferred directly to that account which is faster and easier- no cashing of checks required. Please stop by our office, MUB 112, to pick up the direct deposit form.
To update the contact information, please email genaux@mtu.edu with the name and email of the new person they should notify.
Organizations needing to update banking information will need to complete another direct deposit form.
In order to open a bank account for your Registered Student Organization, you must apply for and receive an Employer Identification Number or EIN from the Internal Revenue Service (IRS). An EIN is your organization’s identification number with the IRS, similar to how your Social Security Number is used to identify you on your personal tax returns. Your RSO can apply for an EIN here. This account will need to be linked to a person's SSN; this could be the President, Treasurer, or Advisor if they are willing. You can register as a “social or savings club”, “community or volunteer group” or “Sports Teams (community)” which are all under the “other” category. Please use your exact RSO name as indicated on Involvement Link when applying for your EIN. This is the name that will be used for any funding issued by the university so it must match the name on your organization's bank account.
Student Leadership & Involvement does not keep records of RSO EINs so it is important that this information is passed down to new leadership and documented. We would advise advisors to know this information as well. The IRS provides a helpful video, guide, and FAQs including what to do if you've lost your RSO's EIN. Contact the IRS business tax line at 1-800-829-4933 with questions.
*NOTE: Applying for an EIN is free. Only use websites with "irs.gov" in the URL when handling sensitive information.
In order to open an account, you will need to bring to the bank:
- Everyone to be added to the account
- Meeting Minutes stating that this person (or people) are to be signers on this account
- Government issued photo ID (driver’s license, passport, state ID are all examples of that)
- MTU Student ID with the M number on back
- A copy of the letter the IRS sends you upon approval of your EIN
- Please be sure to give the bank the correct address. Below is the proper info:
- Org Name MUB 106 1400 Townsend Drive Houghton, MI 49931
When officers transition, incoming officers will need go to the bank to be added with someone remaining on the account. Everyone must have a government issued ID and Tech ID. If no current officers will be remaining on the account, be sure an advisor is added before the transition so they can be there to assist with the transition.
RSO Financial Management
Financial management and planning are vital to your RSO's short and long-term success. Budgeting allows your organization to plan and program for the upcoming year more effectively allowing you to stress less. RSOs are required to keep track of organization finances and remain in good financial standing. Please visit Involvement Link to submit your SAF reimbursements, advances, and Account Use Approval Forms.