Qualifying organizations will be assigned an account number for coding deposits and Requests for Parked Vendor Invoices.There is no charge to the organization for the deposit and withdrawal services, nor for the record-keeping services.The organization must adopt a name which is neither the same as nor deceptively similar to the name of an existing registered student organization, the university or any division or department thereof. Organizations cannot adopt a name which includes Northern Kentucky University. Nor shall student organizations needing off-campus checking accounts include Northern Kentucky University as part of their name.
Agencies that pay individuals for services are responsible for any necessary 1099 reporting to the IRS. Agency account holders may not use Northern Kentucky University's federal ID number or tax exempt number.
Agencies may not use the university's departmental Procurement card for any purposes.
The organization must be non-profit. It may not use its position as a registered organization to solicit or advertise for commercial purposes. A student organization may not be utilized as a vehicle for personal financial gain for any members or advisors.
Membership in student organizations shall be limited to NKU students.
Accounts that carry a zero balance and remain inactive for one year will be closed automatically. Proper documentation must be filed again in order to "re-open" an account that has been closed.
A new
signature authorization form must be completed each time an authorized signer is changed.
