Many, but not all, registered student organizations have a need for money - which means they probably have a need for a bank account, as well. Bank accounts are a secure and accessible long-term option for RSOs to consider. It's important to note that UW Tacoma does not provide banking services for any registered student organization. RSOs wishing to create a bank account and encouraged to look at local banks and credit unions.
Off-Campus BankingUW Tacoma and the Center for Student Involvement do not endorse any specific companies for RSOs to consider banking with. To obtain an off-campus bank account, organizations are responsible for contacting companies on their own.
Each bank has varying requirements for opening or updating bank account information. The Center for Student Involvement can provide a letter of verification for your organization that confirms that your organization is currently registered and identifies officers who registered your organization. This letter can be used to open an account or update signature authorization on an existing account. Contact our office at firstname.lastname@example.org to request this letter.
Employer Identification NumbersAn Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is issued by the Internal Revenue Service and is used to identify a business entity or organization. RSOs may be asked to provide an EIN when opening a bank account. This is the responsibility of the RSO to complete. We provide some information regarding the process below.
The first part of the application is to choose the identity for your group:
- Select "View Additional Types, Including Tax-Exempt and Governmental Organizations"
- Select the most appropriate category for your organization. The most typical choices are:
- Social or Savings Club: "A social club is organized for pleasure, recreation, and other similar non-profitable purposes and substantially all of its activities must be for these purposes."
- Community of Volunteer Group: "A community or volunteer group is any specialized interest group that comes together to provide volunteer services."
- Sports Teams (community): "These organizations are comprised of sports teams or clubs primarily participating in live sporting events before a non-paying audience."
Non-Profit StatusNon-profit or Not-for-Profit status requires being registered with the State of Washington. Additionally, Non-Profits in WA state may also be required to register separately with the Charities Programs if they fundraise from the public. Donations made to an RSO are NOT tax-deductible for the donor under non-profit status.
Tax-Exempt StatusRSOs are legally independent and autonomous from the University and therefore do not have access to the University's tax-exempt status.