$89K in expenses

The student union corporation operates as a non-profit service organization in and for the interest of all duly enrolled students, faculty, and administrative staff on the kansas city campus of the university of kansas. The corporation provides goods and services to meet the physical, social, cultural and academic needs of the students, faculty, staff, alumni, friends and visitors on a basis consistent with the mission of the medical center and the university of kansas. Vending machines and atms are provided for the convenience of students, faculty, and administrative staff. The organization signed a third-party contract with a related party, the university of kansas memorial corporation, to operate the bookstores on the campuses of the university of kansas medical center. The parties entered into a renewed lease of five years, effective date of september 1, 2016. The university of kansas memorial corporation pays the organization a minimum annual commission of $22,800, payable in monthly installments. Additional commissions will commence if sales exceed $1,250,000. Effective august 1, 2018, the minimum amount was revised to $16,815 due to the closing of the wichita bookstore.