| Description of record(s) |
Manner of record keeping |
Disposition |
| I. Corporate/ organizational records: |
|
|
| Incorporation documents including articles of incorporation, bylaws, and related documents |
Store in corporate record book. |
Permanent |
| Tax-exemption documents including application for tax exemption (IRS Form 1023), IRS determination letter, and any related documents |
Store in corporate record book. |
Permanent. Federal law requires copies of these documents to be held at organization’s headquarters office. These records must be made available for public inspection upon request. |
| Meeting/board documents including agendas, minutes and related documents |
Compile & file records on yearly basis; Store in corporate record book. |
Permanent Care should be taken to include only necessary information in these documents. |
| II. Financial records: |
|
|
| Year end Treasurer’s financial report/statement |
Store in corporate record book. |
Permanent |
| Treasurer’s reports, periodic |
Compile & file records on yearly basis. |
Three Years. Store w/financial records. Destroy after three years. |
| Bank statements, canceled checks, check registers, investment statements, and related documents |
Compile & file records on a yearly basis. |
Seven Years. Store w/financial records. Destroy after seven years. |
| Annual information returns (IRS Forms 990) |
Federal law requires that the three most recent years returns be kept in the organization’s headquarters office and be made available for public inspection upon request. |
Seven Years. Store w/financial records. Destroy after seven years. |
| III. Scholarship records |
|
|
| Scholarship applications |
Compile & file records on yearly basis |
Three Years. Store with scholarship records. Destroy after three years. |
| Scholarship recipient information, including names, addresses and school attending |
Compile & file applications on yearly basis. Add names to list of past recipients. List should include names, addresses, school attending when scholarship received, and year in which scholarship received. |
Permanent. List of past recipients should be kept in corporate record book. Additional recipient information including complete applications should be filed in a permanent scholarship information file. |
| Selection committee records, including selection criteria used and other documentation regarding the selection process |
Compile & file records on yearly basis. |
Three Years. Store with scholarship records. Destroy after three years |
