Introduction to Kellogg / SOFO

Kellogg student organizations are required to manage their finances through the Northwestern University Student Organizations Finance Office (SOFO) and are assisted in this by the Kellogg Financial Planning and Analysis Department.

Status of Kellogg Student Organizations: Kellogg student organizations are legally considered to be part of Northwestern University which is a not-for-profit organization with full legal, financial, and tax support services. Student organizations operating in accordance with University policies are entitled to the University’s support, including proper legal recognition of the organization, tax exempt status, financial and legal support, assurance of proper internal control, and certain insurance coverage. University policy requires that student organizations manage their financial affairs through SOFO, and prohibits maintaining any bank account or investment account outside of SOFO.

Financial Policies and Procedures: Through SOFO, your organization can deposit funds, request checks for reimbursements and payments, and accept internal charges for university services. This handbook summarizes SOFO policies and procedures as they generally relate to Kellogg student organizations. See the full SOFO Treasurers Handbook for other transactions that may be relevant to your club.

Sales Tax Exemption: The university is exempt from Federal and State Income Taxes and from paying Illinois State Sales Taxes. If you need an Illinois state sales tax exemption statement for a SOFO payment to a vendor, please see your Club Treasurer or the Student Affairs Office.