Document and Retention Policy
From Thousand Smiles Wiki
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== Document and Retention Policy == | == Document and Retention Policy == | ||
+ | Thousand Smiles Foundation Document Retention/Destruction Policy | ||
+ | November 5, 2021 | ||
+ | |||
+ | |||
+ | |||
+ | Document Retention Schedule | ||
+ | |||
+ | The following types of documents will be retained for the following periods of time. At least one copy of each document will be retained according to the following schedule. | ||
+ | |||
+ | Corporate Records | ||
+ | |||
+ | Article of Incorporation to apply for corporate status Permanent | ||
+ | IRS Form 1023 (in the USA) to file for tax-exempt and/or charitable status Permanent | ||
+ | Letter of Determination (for example, from the IRS in the USA) granting tax- exempt and/or charitable status Permanent | ||
+ | By Laws Permanent | ||
+ | Board policies Permanent | ||
+ | Resolutions Permanent | ||
+ | Board meeting minutes Permanent | ||
+ | Sales tax exemption documents Permanent | ||
+ | Tax or employee identification number designation Permanent | ||
+ | Annual corporate filings Permanent | ||
+ | |||
+ | Financial Records | ||
+ | |||
+ | Chart of Accounts Permanent | ||
+ | Fiscal Policies and Procedures Permanent | ||
+ | Audits Permanent | ||
+ | Financial statements Permanent | ||
+ | General Ledger Permanent | ||
+ | Check registers/books 7 years | ||
+ | Business expenses documents 7 years | ||
+ | Bank deposit slips 7 years | ||
+ | Cancelled checks 7 years | ||
+ | Invoices 7 years | ||
+ | Investment records (deposits, earnings, withdrawals) 7 years | ||
+ | Property/asset inventories 7 years | ||
+ | Petty cash receipts/documents 3 years | ||
+ | Credit card receipts | ||
+ | |||
+ | 3 years | ||
+ | |||
+ | |||
+ | |||
+ | Tax Records | ||
+ | |||
+ | Annual tax filing for the organization (IRS Form 990 in the USA) Permanent | ||
+ | Payroll registers Permanent | ||
+ | Filings of fees paid to professionals (IRS Form 1099 in the USA) 7 years | ||
+ | Payroll tax withholdings 7 years | ||
+ | Earnings records 7 years | ||
+ | Payroll tax returns 7 years | ||
+ | W-2 statements 7 years | ||
+ | |||
+ | Personnel Records | ||
+ | |||
+ | Employee offer letters Permanent | ||
+ | Confirmation of employment letters Permanent | ||
+ | Benefits descriptions per employee Permanent | ||
+ | Pension records Permanent | ||
+ | Employee applications and resumes 7 years after termination | ||
+ | Promotions, demotions, letter of reprimand, termination 7 years after termination | ||
+ | Job descriptions, performance goals 7 years after termination | ||
+ | Workers’ Compensation records 5 years | ||
+ | Salary ranges per job description 5 years | ||
+ | I-9 Forms 5 years after termination | ||
+ | Time reports 3 years after termination | ||
+ | |||
+ | Insurance Records | ||
+ | |||
+ | Property Insurance policy Permanent | ||
+ | Directors and Officers Insurance policy Permanent | ||
+ | Workers’ Compensation Insurance policy Permanent | ||
+ | General Liability Insurance policy Permanent | ||
+ | Insurance claims applications Permanent | ||
+ | Insurance dispersements / denials Permanent | ||
+ | |||
+ | Contracts | ||
+ | |||
+ | All insurance contracts Permanent | ||
+ | Employee contracts Permanent | ||
+ | Construction contracts Permanent | ||
+ | Legal correspondence Permanent | ||
+ | Loan / mortgage contracts Permanent | ||
+ | Leases / deeds Permanent | ||
+ | Vendor contracts 7 years | ||
+ | Warranties 7 years | ||
+ | |||
+ | Donations / Funder Records | ||
+ | |||
+ | Grant dispersal contract Permanent | ||
+ | Donor lists 7 years | ||
+ | Grant applications 7 years | ||
+ | Donor acknowledgements 7 years | ||
+ | |||
+ | Management Plans and Procedures | ||
+ | |||
+ | Strategic Plans 7 years | ||
+ | Staffing, programs, marketing, finance, fundraising and evaluation plans 7 years | ||
+ | Vendor contacts 7 years | ||
+ | Disaster Recovery Plan 7 years | ||
+ | |||
+ | Email and Other Computer-Based Correspondence | ||
+ | |||
+ | This is in regard to correspondence/information that is developed and/or maintained by employees on the company’s computers, whether it is in regard to work or personal information. | ||
+ | |||
+ | Employee correspondence, e.g., emails 7 years | ||
+ | |||
+ | |||
+ | Document Protection | ||
+ | |||
+ | Documents (hardcopy, online or other media) will be stored in a protected environment for the duration of the Document Retention Schedule. Computer backup media will be included. | ||
+ | |||
+ | |||
+ | Document Destruction | ||
+ | |||
+ | Hardcopy of documents will be destroyed by shredding or fire after they have been retained until the end of the Document Retention Schedule. Copies of computer backups will be destroyed by fire or other proven means to destroy such media after they have been retained until the end of the Document Retention Schedule. | ||
+ | |||
+ | Provision of Documentation for Investigations or Litigation | ||
+ | |||
+ | Documents requested and subpoenaed by legally authorized personnel will be provided within 5 business days. The Board Chair and CEO will authorize provision. No documents will be concealed, altered or destroyed with the intent to obstruct the investigation or litigation. |
Revision as of 01:58, 11 November 2021
Document and Retention Policy
Thousand Smiles Foundation Document Retention/Destruction Policy November 5, 2021
Document Retention Schedule
The following types of documents will be retained for the following periods of time. At least one copy of each document will be retained according to the following schedule.
Corporate Records
Article of Incorporation to apply for corporate status Permanent IRS Form 1023 (in the USA) to file for tax-exempt and/or charitable status Permanent Letter of Determination (for example, from the IRS in the USA) granting tax- exempt and/or charitable status Permanent By Laws Permanent Board policies Permanent Resolutions Permanent Board meeting minutes Permanent Sales tax exemption documents Permanent Tax or employee identification number designation Permanent Annual corporate filings Permanent
Financial Records
Chart of Accounts Permanent Fiscal Policies and Procedures Permanent Audits Permanent Financial statements Permanent General Ledger Permanent Check registers/books 7 years Business expenses documents 7 years Bank deposit slips 7 years Cancelled checks 7 years Invoices 7 years Investment records (deposits, earnings, withdrawals) 7 years Property/asset inventories 7 years Petty cash receipts/documents 3 years Credit card receipts
3 years
Tax Records
Annual tax filing for the organization (IRS Form 990 in the USA) Permanent Payroll registers Permanent Filings of fees paid to professionals (IRS Form 1099 in the USA) 7 years Payroll tax withholdings 7 years Earnings records 7 years Payroll tax returns 7 years W-2 statements 7 years
Personnel Records
Employee offer letters Permanent Confirmation of employment letters Permanent Benefits descriptions per employee Permanent Pension records Permanent Employee applications and resumes 7 years after termination Promotions, demotions, letter of reprimand, termination 7 years after termination Job descriptions, performance goals 7 years after termination Workers’ Compensation records 5 years Salary ranges per job description 5 years I-9 Forms 5 years after termination Time reports 3 years after termination
Insurance Records
Property Insurance policy Permanent Directors and Officers Insurance policy Permanent Workers’ Compensation Insurance policy Permanent General Liability Insurance policy Permanent Insurance claims applications Permanent Insurance dispersements / denials Permanent
Contracts
All insurance contracts Permanent Employee contracts Permanent Construction contracts Permanent Legal correspondence Permanent Loan / mortgage contracts Permanent Leases / deeds Permanent Vendor contracts 7 years Warranties 7 years
Donations / Funder Records
Grant dispersal contract Permanent Donor lists 7 years Grant applications 7 years Donor acknowledgements 7 years
Management Plans and Procedures
Strategic Plans 7 years Staffing, programs, marketing, finance, fundraising and evaluation plans 7 years Vendor contacts 7 years Disaster Recovery Plan 7 years
Email and Other Computer-Based Correspondence
This is in regard to correspondence/information that is developed and/or maintained by employees on the company’s computers, whether it is in regard to work or personal information.
Employee correspondence, e.g., emails 7 years
Document Protection
Documents (hardcopy, online or other media) will be stored in a protected environment for the duration of the Document Retention Schedule. Computer backup media will be included.
Document Destruction
Hardcopy of documents will be destroyed by shredding or fire after they have been retained until the end of the Document Retention Schedule. Copies of computer backups will be destroyed by fire or other proven means to destroy such media after they have been retained until the end of the Document Retention Schedule.
Provision of Documentation for Investigations or Litigation
Documents requested and subpoenaed by legally authorized personnel will be provided within 5 business days. The Board Chair and CEO will authorize provision. No documents will be concealed, altered or destroyed with the intent to obstruct the investigation or litigation.