Document Retention and Destruction Policy

Friends of SDPB will ensure documentation is adequately safeguarded and maintained for review. This policy is to be used in reference for retention and destruction of documentation for Friends of SDPB. This applies to all physical and electronic documents. Timeframes are determined based on best practices and external requirements. Files will be retained within the timeframes stated and disposed of following the end of the fiscal year which the length of retention is met.

Permanent Files

  • Corporate Records
    • Articles of Incorporation
    • Board Meeting Minutes
    • Board Policies & Resolutions
    • By‐Laws
    • IRS Determination Letter
  • Financial Records
    • Audited Financial Statements & Related General Ledgers
    • Annual Form 990 & Form 5500 filings
    • Annual Depreciation & Capital Asset Records
  • Legal Records & Insurance Policies
  • Historical Donor Records
  • Annual Reports

7 Years

  • Interim Financial Statements
  • Annual Budgets & Strategic Plans
  • Audit Workpapers
  • Grants & Contracts
  • Subsidiary general ledgers
  • Investment & Bank Statements
  • Payroll Registers and Related Payroll Information
  • Invoices and deposits documentation
  • Annual Year‐End Tax Filings (Form W‐2, Form 1099, & Form 1095)

4 Years

  • Personnel Files ‐ Terminated employee files

3 Years

  • I‐9 Forms – 3 years after the date of hire or year after termination, whichever it later.