A recognized student organization will have a SOFC account. Some may have a University fiscal account and some will have both.

  • SOFC accounts are defined as those accounts that have funds on deposit from organization activities, usually in the form of dues, fundraisers, registration, and merchandise sales. These accounts will begin with the number 9 and will be used for all transactions conducted with the SOFC.
  • Fiscal accounts are defined as those accounts that receive any money in support of an activity sponsored under the name of Texas A&M University. Very few recognized student organizations will have a fiscal account.  These accounts are usually administered through the organization advising department.

In accordance with Texas A&M Student Organization Rule 41.1.3: All recognized Student Organizations must deposit and withdraw all funds of the organization in the Student Organization Finance Center and/or with the University Fiscal Department.

Failure to comply with this rule may result in disciplinary action for a Recognized Student Organization.

No. In accordance with Texas A&M Student Organization Rule 41.1.3: All recognized Student Organizations must deposit and withdraw all funds of the organization in the Student Organization Finance Center and/or with the University Fiscal Department. All funds must be deposited no later than the next business day after collection. This means that no organization should be keeping petty cash on hand, all funds should be deposited within the allotted time period and all outgoing payments should be made by processing a signed payment request through the SOFC.

To separate funds from the main organization operating budget, you may create a sub-account.  A sub-account can be used to differentiate different sub-groups in your organization, or for specific purposes or events.  The number of sub-accounts is not limited but the organization should carefully consider this option as each sub-account will have to be reconciled separately.  To use the funds held in sub-accounts, or to deposit funds into the sub-account, the sub-account number will need to be written in on all payment requests and deposit slips.

To create the sub-accounts you will need to complete the Sub Account Request Form, have it signed by a student leader and advisor (must be on the organization’s signature card), and submit it to the SOFC.

The new sub-account number will be a combination of the main account number followed by the sub-account number.  Example: 900000-10000

The organization will need to fill out a Transfer Request form to empty out the sub-account, and submit the signed document to the SOFC.  In the reason for transfer section you will need to write that the sub-account needs to be closed.  The funds will be transferred out of the sub-account and the sub-account will close at the end of the fiscal year.

The 99999 sub-account (or all 9s) is a sub-account established when the Texas A&M Foundation processes a tax deductible donation for your organization.  The funds in this sub-account should be used to directly benefit your organization, Texas A&M University, Texas A&M University Faculty, Staff, and/or Students.

No. Student Organizations should not use these services to collect payments as the funds have to be routed through an off-campus bank account. The SOFC does however offer options for Student Organizations to be able to accept credit card payments:

  • Credit Card terminals may be checked out by student organizations to accept credit card payments. The funds will be deposited directly into the organization’s SOFC account. NOTE: Credit card merchant fees do apply.  Call to reserve a terminal.
  • Marketplace is an online storefront that student organizations can use to collect dues, sell merchandise, and conduct registration. NOTE: credit card merchant fees do apply.

This is not allowed for most student organizations. Your organization may wish to hold a raffle, where tickets are sold and the number of tickets bought exponentially increases the odds of winning.  It is very important to note that only two types of student organizations may conduct raffles in accordance with the Texas Penal Code:

  • A nonprofit association organized primarily for religious purposes that has been in existence in Texas for at least 10 years.
  • A nonprofit organization that has existed for at least three preceding years and is exempt from federal income tax under Section 501(c), Internal Revenue Code; does not distribute any of its income to its members, officers or governing body; does not devote a substantial part of its activities to attempting to influence legislation; and does not participate in any political campaign.

*The language of the law is very technical, and an unauthorized raffle is considered gambling under the Texas Penal Code.

To find out if your organization qualifies for nonprofit status you will need to contact the Internal Revenue Service.  The 501 (c)(3) packet is the  nonprofit paperwork you will need to complete.  You will need to contact the IRS for any questions regarding filing for non-profit status.

Most student organizations do not have their own tax ID number.

If you are needing a W-9 form in order to receive a tax deductible donation or for a profit share, you will visit the Texas A&M Foundation’s website and under Contact you will find Request W-9 form.

If you are needing this information because you are being paid for services, registration, or another form of non-tax deductible payment you will need to come to the SOFC and obtain the TAMU W-9.

 Student Organizations do not fall under the University’s sales tax exemption. Departments should not pay for an organization’s purchases.  Student organizations should pay sales tax unless they have their own exemption from the State of Texas.

If you paid in cash and you lost your receipt, unfortunately you will not be able to be reimbursed.  For payments made with a debit/credit card or check, speak to a SOFC representative to determine what the appropriate steps would be to receive a reimbursement.  In all instances, the first step should be to try to get a reprinted receipt from the vendor that was paid.