Below are the expectations of student organizations recognized through Student Leadership and Involvement regarding financing and fundraising. If a recognized student organization will be collecting dues, fundraising or expects to have funds allocated on their behalf, they need to have an organization bank account and an organizational mailbox. 

All organizations must pay their debts accrued both on and off campus in a timely and approved manner. JMU is not liable for debts accrued by a recognized student organization. 

The designated treasurer of the recognized student organization is encouraged to complete the online Cash Handling Training certification at the beginning of the academic year or before the recognized student organization’s first event involving money. This certification will apply to all events where cash is handled during the current academic year. If the position of treasurer changes during the academic year, the new treasurer is encouraged to be certified by completing the online Cash Handling Training.  

All recognized student organizations are strongly encouraged to maintain an organization bank account. CommonWealth One Federal Credit Union is a resource on campus that offers recognized student organizations free checking accounts with no monthly fees or minimum balance requirements. 

Recognized student organizations wishing to open a bank account should follow the steps below. 

1. Have the adviser apply for an Employee Identification Number (EIN) by contacting the IRS. To learn more about this process, directions can be found on the Internal Revenue Service webpage Organization bank accounts are required to have an EIN.  
2. Schedule an appointment with your bank to open the account. All intended signers must be present and a copy of the SS4 (EIN number) provided to the bank. 

Update the signers on the account every time you elect new officers or have an adviser change to ensure the proper individuals have access to organization funds and statements.

If your organization utilizes CommonWealth One Federal Credit Union on campus, please submit the Bank Authorization Letter Request form on BeInvolved before going to the bank. Student Leadership and Involvement will send the letter directly to the staff at CommonWealth One.  

Recognized Student organizations are not permitted to use the University’s tax ID or tax exempt number or to share tax ID information. 

Student Leadership and Involvement does not keep a record of your organization's tax ID number or any other financial information. If your organization already has a tax ID, but you do not have it, you can: 

• Call the IRS at 1-800-829-4933 to immediately receive your EIN over the phone.
• If you have an account with CommonWealth One Federal Credit Union, you can contact them and ask for the number.

If you have any questions, please contact Student Life at beinvolved@jmu.edu.