Record Retention Policy For Nonprofits

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Record Retention Policy For Nonprofits

Record Retention Policy For Nonprofits

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}}

Website: {{website}}

Record Retention Policy

**Policy Effective Date:** {{effective_date}}

**Last Reviewed:** {{last_reviewed_date}}

**Purpose:** The purpose of this Record Retention Policy is to ensure that {{company_name}} retains essential records for legal, regulatory, and operational needs, and disposes of non-essential records in a systematic and timely manner. This policy is designed to comply with applicable laws and regulations regarding record keeping, protect confidential information, and promote efficient use of resources.

Scope

This policy applies to all records, regardless of format (e.g., paper, electronic, audio, video), created or received by {{company_name}} during the course of its operations. This includes records held by staff, volunteers, contractors, and board members. It covers all departments and activities of the organisation.

Record Retention Schedule

The following schedule outlines the minimum retention periods for various categories of records. These periods are based on legal requirements, industry best practices, and operational needs. Records should not be destroyed before the expiration of their retention period, unless explicitly authorized by law or a designated authority within {{company_name}}.

**Category: Financial Records**

**Type:** Annual Audits, Financial Statements

**Retention Period:** Permanent

**Type:** General Ledgers, Journals

**Retention Period:** 7 years after audit

**Type:** Bank Statements, Reconciliation

**Retention Period:** 7 years

**Type:** Grant Records, Donor Contributions (substantiation)

**Retention Period:** 7 years after grant closure/donation year

**Category: Human Resources Records**

**Type:** Employee Personnel Files (active employees)

**Retention Period:** Duration of employment + 7 years

**Type:** Employee Personnel Files (terminated employees)

**Retention Period:** 7 years after termination

**Type:** Payroll Records, Tax Forms (e.g., PAYE forms)

**Retention Period:** 7 years

**Type:** Pension and Benefits Records

**Retention Period:** Permanent or as per scheme rules

**Category: Governance Documents**

**Type:** Articles of Incorporation, Constitution, Bylaws

**Retention Period:** Permanent

**Type:** Board Meeting Minutes, Resolutions

**Retention Period:** Permanent

**Type:** Policies and Procedures

**Retention Period:** Permanent (current version); 7 years (superseded versions)

**Category: Program and Service Records**

**Type:** Program Reports, Evaluations

**Retention Period:** Permanent (key reports); 7 years (operational reports)

**Type:** Client/Beneficiary Records

**Retention Period:** 7 years after last service provision or as per privacy laws

**Category: Legal Records**

**Type:** Contracts, Agreements

**Retention Period:** 7 years after expiration or termination

**Type:** Litigation Files

**Retention Period:** Permanent or as per legal counsel advice

**Category: Operational Records**

**Type:** Correspondence (routine)

**Retention Period:** 1-3 years

**Type:** Asset Registers

**Retention Period:** Permanent (until disposal of asset + 7 years)

Record Management Responsibilities

**Board of Directors:** Oversees the implementation and compliance of this policy.

**Executive Director/CEO:** Responsible for appointing a Records Coordinator and ensuring staff adherence to the policy.

**Records Coordinator (or designated staff):** Responsible for the day-to-day management of records, including their creation, maintenance, retrieval, and disposal. This includes maintaining the official record retention schedule.

**All Staff and Volunteers:** Responsible for understanding and adhering to this policy in their daily work, ensuring proper creation, filing, and retention of records relevant to their duties.

Electronic Records Management

Electronic records are subject to the same retention and disposal requirements as paper records. {{company_name}} will ensure that electronic records are stored securely, backed up regularly, and are accessible for the required retention period. Electronic communications, including emails, that constitute official records must be managed appropriately.

Disposal of Records

Records that have met their retention period and are no longer required for legal, regulatory, or operational purposes shall be disposed of in a secure and confidential manner. For paper records, this typically involves shredding or incineration. For electronic records, this involves secure deletion or overwriting that renders the data unrecoverable. A record of destroyed documents, including the date of destruction and the method used, shall be maintained.

No records potentially relevant to any current or anticipated investigation, audit, or litigation shall be destroyed.

Monitoring and Review

This policy shall be reviewed by the Board of Directors or a designated committee at least annually, or as necessitated by changes in laws, regulations, or organisational needs. Any updates or amendments will be communicated to all relevant stakeholders.

Employee Acknowledgment

I, {{employee_name}}, acknowledge that I have read, understood, and agree to comply with {{company_name}}'s Record Retention Policy.

Signature: __________________________

Date: {{acknowledgment_date}}

Authorisation and Approval

This Record Retention Policy is hereby approved and adopted by the Board of Directors of {{company_name}} on this {{approval_day}} day of {{approval_month}}, {{approval_year}}.

_______________________________

{{board_chair_name}}

Chair, Board of Directors

_______________________________

{{executive_director_name}}

Executive Director/CEO