many, many years ago (mid-seventies), I would guess that this budget of one hundred dollars allocated by the university is just enough for the organization to have a campus P.O. box for the fall and spring semesters with about ten bucks left over for photocopying of flyers.

This hardly constitutes an inappropriate level of support for a student organization. You couldn't buy much bondage gear with the money the kids received. It's not as if the university is throwing tons of money into a big black hole that actively degrades the intellectual and cultural life on campus as they are probably doing with, say, the athletic program.