STC has received requests about recommend document retention policies. Meanwhile, the CAC has been working to consolidate community leadership documents, and we have added a document retention template to the soon-to-be-published Community Handbook.
One resource recommended by STC is https://www.councilofnonprofits.org/tools-resources/document-retention-policies-nonprofits. Among other recommendations, it suggests that organizations should never discard these records:
- Articles of Incorporation
- Audit reports, from independent audits
- Corporate resolutions
- Determination Letter from the IRS, and correspondence relating to it
- Financial statements (year-end)
- Insurance policies
- Minutes of board meetings and annual meetings of members
- Real estate deeds, mortgages, bills of sale
- Tax returns
When the new Community Handbook is published, we will let you know!