Records Retention and Destruction Policy

 

1. Purpose: 

The purpose of this Records Retention Policy is to establish guidelines for the retention, storage, and disposal of organizational records by 4 The Fallen. This policy ensures compliance with legal, regulatory, and operational requirements while promoting efficient record-keeping practices. 

 

2. Scope: 

This policy applies to all directors, officers, volunteers, and any individuals or entities affiliated with 4 The Fallen who are responsible for the creation, maintenance, or disposal of organizational records. 

 

3. Definitions: 

• “Organizational Records”: Any documents, files, data, or information, regardless of format, created, received, or maintained by 4 The Fallen in the course of conducting its business and fulfilling its mission. 

• “Retention Period”: The length of time that specific categories of organizational records should be retained before they are eligible for disposal. 

 

4. Record Categories and Retention Periods: 

The following categories of organizational records and their respective retention periods shall be established and adhered to by 4 The Fallen: 

 

• Financial Records: 

• Bank statements, invoices, receipts: Retain for a minimum of 7 years. 

• Budgets, financial reports: Retain for a minimum of 7 years. 

• Tax records, including Form 990: Retain permanently. 

• Governance Records: 

• Articles of Incorporation, bylaws, board meeting minutes: Retain permanently. 

• Board resolutions, policies: Retain permanently. 

• Legal and Regulatory Records: 

• Contracts, agreements, permits: Retain for the duration of the contract/agreement plus 7 years. 

• Licenses, registrations, certifications: Retain until expiration or renewal, plus 7 years. 

• Program and Service Records: 

• Program evaluations, participant records: Retain for a minimum of 3 years after program completion. 

• Human Resources Records: 

• Volunteer agreements, background checks: Retain for a minimum of 3 years after termination of association. 

 

5. Storage and Accessibility: 

Organizational records shall be stored in a secure and accessible manner, either in physical or electronic format, as appropriate. Access to records shall be restricted to authorized individuals, and appropriate measures shall be taken to protect sensitive or confidential information. 

 

6. Disposal: 

At the end of the retention period, organizational records shall be disposed of in a manner that ensures the protection of sensitive information and compliance with applicable laws and regulations. Disposal methods may include shredding, electronic deletion, or other secure means of destruction. 

 

7. Exceptions: 

Exceptions to the specified retention periods may be made in cases where longer retention is required by law, regulation, or legal action. 

 

8. Review and Update: 

This Records Retention Policy shall be reviewed periodically by the Board of Directors to ensure its effectiveness and relevance. Any necessary revisions shall be made accordingly. 

 

9. Compliance: 

All directors, officers, employees, volunteers, and affiliated individuals are responsible for complying with this policy and ensuring that organizational records are managed in accordance with its provisions. 

 

By adopting and adhering to this Records Retention Policy, 4 The Fallen demonstrates its commitment to maintaining accurate, reliable, and secure records while fulfilling its legal and operational obligations.