Document Retention and destruction policy


Asha’s Document Retention and destruction policy provides for the systematic review, retention, and destruction of documents received or created by Asha for Education [hereafter referred to as Asha] in connection with the transactions of Asha’s non-profit activities. This policy covers all records and documents, regardless of physical form, 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 Asha’s operations by promoting efficiency and freeing up valuable storage space.

Document Retention

Asha will follow 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.

Corporate Records:

Type of DocumentMinimum Requirement
Articles of IncorporationPermanently
Determination Letter from IRSPermanently
Board meeting minutesPermanently
Annual Reports to Secretary of State/Attorney GeneralPermanently
Resolutions (via ARC process defined separately)Permanently
Email communication7 years

 Accounting and Tax Records 

Type of DocumentMinimum Requirement
Annual Audits and Financial StatementsPermanently
IRS Form 990 Tax returnsPermanently
Donation Receipts (cash, check, credit card)5 years
Fund raising expense records5 years
Investment Statements5 years

Bank Records 

Type of DocumentMinimum Requirement
Bank Statements and Reconciliation5 years
Electronic funds transfer Documents5 years

Donor and Grant Records

Type of DocumentMinimum Requirement
Grant Application and Contracts5 years

Legal, Insurance, and Safety Records

Type of DocumentMinimum Requirement
Copyright RegistrationsPermanently
Insurance policiesPermanently
Trademark RegistrationsPermanently
General Contracts with third parties2 years after termination

Electronic Documents and Records

Electronic documents will be retained as if they were paper documents. Therefore, anye lectronic 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 e-mail message, the message should be moved to an “archive” computer file folder maintained by the web team of Asha.

Emergency Planning
Asha’s records will be stored in a safe, secure, and accessible manner.Documents and financial files that are essential to keeping Asha operating in an emergency will be maintained in
redundant locations.

Document Destruction
Asha’s Coordinator Team (Asha President and his/her team of volunteers) will be responsible for the ongoing process of identifying its records, which have met the required retention period, and overseeing their destruction. Destruction of financial documents will be accomplished by shredding.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.

Failure on the part of the volunteers to follow this policy can result in possible civil and criminal sanctions against Asha and its volunteers. The elected body of Asha will periodically
review these procedures with legal counsel or the organization’s certified public accountant to ensure that they are in compliance with new or revised regulations.