Document Retention and Destruction Policies for Nonprofits Organizations

Most nonprofit organizations are aware of their responsibility to retain important documents, but document retention obligations go beyond board minutes, resolutions, and governance documents. Federal laws, regulations, and ethics rules impose obligations on organizations and counsel to retain documents in certain instances, and prevent them from being destroyed or altered in others. Failure to comply with some of these rules can result in criminal penalties. Furthermore, the IRS requires tax-exempt organizations to disclose in their annual information returns whether they have a document retention policy. This live audio conference will discuss the rules and ethical obligations relating to document retention and destruction, in general and those rules that are specific to nonprofits. It will explain the importance of having a document retention policy. These policies are not one-size-fits-all, they may be very simple for small organizations while larger organizations might require a more complex policy. The audio conference will also discuss issues organizations should consider in developing a document retention policy.

Learning Objectives:

• You will be able to discuss Sarbanes-Oxley Act provisions.
• You will be able to review Form 990 questions.
• You will be able to explain how long documents should be retained.
• You will be able to identify challenges with electronic documents.

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