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DOCUMENT RETENTION & DESTRUCTION POLICY
OF
FOP JIM FOGLEMAN LODGE #50 FOUNDATION INCORPORATED
Purpose
This policy establishes guidelines for the retention and destruction of documents to ensure compliance with legal requirements and promote operational efficiency.
Document Retention
The Foundation shall retain documents according to the following general guidelines:
• Governing documents, IRS filings, and board minutes: Permanently
• Financial records and bank statements: Minimum of 7 years
• Grant and donation records: Minimum of 7 years
• Contracts and legal agreements: Duration of agreement plus 7 years
Document Destruction
Documents may be destroyed after the retention period has expired, provided:
• No legal, regulatory, or audit requirement exists
• No investigation or litigation is pending
Electronic Records
Electronic records are subject to the same retention and destruction standards as physical documents.
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