Romanian Christian Enterprises

Document Retention and Destruction Policy


I. Purpose

This Document Retention and Destruction Policy provides for the systematic review, retention and destruction of documents received or created by Romanian Christian Enterprises (RCE) in connection with the transaction of RCE’s business. This Policy covers all records and documents, regardless of physical form (including electronic documents), contains guidelines for how long certain documents should be kept and how records should be destroyed. The Policy is designed to ensure compliance with federal and state laws and regulations, to eliminate accidental or innocent destruction of records and to facilitate RCE’s operations by promoting efficiency and freeing up valuable storage space.

II. Document Retention

RCE follows the document retention procedures outlined below. Documents that are not listed, but are substantially similar to those listed in the schedule will be retained for the appropriate length of time.

III. Corporate Records

Annual Reports to Secretary of State/Attorney General: Permanent

Articles of Incorporation: Permanent

Board Meeting and Board Committee Minutes: Permanent

Board Policies/Resolutions: Permanent

Bylaws: Permanent

Construction Documents: Permanent

Fixed Asset Records: Permanent

IRS Application for Tax-Exempt Status (Form 1023): Permanent

IRS Determination Letter: Permanent

State Sales Tax Exemption Letter: Permanent

Contracts (after expiration): 5 years

Correspondence (general): 3 years

Accounting and Corporate Tax Records:

Annual Audits and Financial Statements: Permanent

Depreciation Schedules: 10 years

General Ledgers: 10 years

IRS 990 Tax Returns: Permanent

Business Expense Records: 6 years

IRS 1099s: 6 years

Journal Entries: 6 years

Invoices: 6 years

Sales Records (box office, concessions, gift shop): 3 years

Petty Cash Vouchers: 3 years

Cash Receipts: 3 years

Credit Card Receipts: 3 years

Bank Records:

Check Registers: 10 years

Bank Deposit Slips: 7 years

Bank Statements and Reconciliation: 7 years

Electronic Fund Transfer Documents: 7 years

Payroll and Employment Tax Records:

Payroll Registers: Permanent

State Unemployment Tax Records: 10 years

Earnings Records: 7 years

Garnishment Records: 7 years

Payroll Tax returns: 7 years

W-2 Statements: 7 years

Employee Records:

Employment and Termination Agreements: 10 years

Retirement and Pension Plan Documents: 10 years

Records Relating to Promotion, Demotion or Discharge: 7 years after termination

Accident Reports and Worker’s Compensation Records: 5 years

Salary Schedules: 5 years

Employment Applications: 3 years

I-9 Forms: 3 years after termination

Time Cards/Sheets: 2 years

Donor Records and Acknowledgement Letters: 7 years

Grant Applications and Contracts: 5 years after completion

Legal, Insurance and Safety Records:

Appraisals: 10 years

Copyright Registrations: Permanent

Environmental Studies: Permanent

Insurance Policies: 10 years

Real Estate Documents: Permanent

Stock and Bond Records: 10 years

Trademark Registrations: Permanent

Leases: 6 years after expiration

OSHA Documents: 5 years

General Contracts: 3 years after termination

IV. Electronic Documents and Records

Electronic documents will be retained as if they were paper documents. Therefore, any electronic files, including records of donations made online, that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time. If a user has sufficient reason to keep an email message, the message should be printed in hard copy and kept in the appropriate file or moved to an “archive” computer file folder. Backup and recovery methods will be tested on a regular basis.

V. Emergency Planning

The Organization’s records will be stored in a safe, secure and accessible manner. Documents and financial files that are essential to keeping the Organization operating in an emergency will be duplicated or backed and maintained.

VI. Document destruction

will be suspended immediately, upon any indication of an official investigation or when a lawsuit is filed or appears imminent. Destruction will be reinstated upon conclusion of the investigation.

VII. Compliance

Failure on the part of employees or contract staff to follow this policy can result in possible civil and criminal sanctions against the Organization and its employees or contract staff and possible disciplinary action against responsible individuals. The Treasurer will periodically review these procedures with or the organization’s certified public accountant to ensure that they are in compliance with new or revised regulations.

This Policy was adopted by executive action this 12th day of August, 2019.

A true record, [Mary Ann Bell, Executive Director]