RECORDS RETENTION AND DESTRUCTION POLICY

 Policy Statement: The policy below addresses all documents and archives, of all formats, and includes outlines of the duration of time specific documents ought to be preserved, as well as the manner in which they ought to be eliminated. This policy is shaped in a way that acquiesces to the regulations and laws at both the state level and federal level, to prevent unintentional disposal of archives, and to assist the progress of Bread of Life Mission’s proceedings by upholding efficacy and maximizing storage.

Retention Calendar & Administration: The Mission’s Archive Retention Calendar is described in Appendix A. The policy will be administered by the Office Administrator. This individual is authorized to update the Archive Retention Calendar to ensure continued compliance with laws at the federal, state and local levels, and that it comprises of the proper archive and document classifications for the Mission. The Office Administrator will also follow federal, state and local laws that relate to archive retention and archive elimination, review the archival retention and elimination program, and ensure acquiescence with this policy.

Electronic Documents & Archives: Electronic documents are to be preserved in the same way as hard copies. All electronic files meeting the description of a document classification within Appendix A shall be preserved for the specified time period. Should a staff member have adequate reason to preserve an email’s content, the email shall be printed as a hard copy and filed in the appropriate location or transferred to a computer folder containing ‘archives.’

Suspension of Archive Elimination as it Relates to Claims or Litigation: No Mission staff member, director, volunteer, officer or agent may demolish, throw away, hide or change any archive or file with anticipation or knowledge that the artifact is or could be pertinent to a potential or in-progress legal proceeding or other investigation conducted for or by a local, state or federal government agency such as agencies of tax, regulations and law enforcement, criminal or civil courts, and potential or in-progress internal investigations, reviews and audits put in motion by the Mission itself. In the event of a potential or in-progress legal proceeding or investigation as described above, the Office Administrator will halt any additional destruction of files until the Office Administrator, being advised by counsel, indicates otherwise. The Office Administrator will perform these steps as needed to swiftly notify all employees of any postponement of the future destruction of files.

This Policy was approved by  the Board of Directors on January 21, 2016.

APPENDIX A – RECORD RETENTION SCHEDULE

A.    Financials and Accounting

Accounts Payable Calendars and Ledgers - Seven Years

Accounts Receivable Calendars and Ledgers - Seven Years

Annual Audit Archives, Including Work Files/Additional Files that are Relatable to the Audit - Seven Years from the Audit’s Completion

Annual Audit Financials and Reports - Permanent

Canceled Checks and Bank Statements - Seven Years

Electronic Records of Payment- Seven Years

Notes Receivable Calendars and Ledgers - Seven Years

Investment Records - Seven Years from Sale of Investment

General Ledgers - Permanent

Records of Expense - Seven Years

B.     Corporate Archives

Annual Reports for the Secretary of State/ Attorney General - Permanent

Articles of Incorporation - Permanent

By-laws  - Permanent

Board Committee and Meetings - Permanent

Minutes - Permanent

Board Resolutions and Policies - Permanent

Form 1023 Application for IRS Tax-Exempt Status - Permanent

IRS Letter of Determination - Permanent

Letter of Exemption from State Sales Tax - Permanent

Contracts (Once Expired) - Seven Years

Permits and Licenses - Permanent

C.     Employee Documents

Benefit Plans - Permanent

Staff Files - Seven Years from Date of Termination

Résumés, Position Applications, and Alternate Types of Position Inquiries, Updates of Job Opportunities and Ads - Three Years

I-9 Forms  - Three Years From Hiring Date or One Year from Separation Date

Taxes Relating to Employment - Seven Years

Net and Gross Registers for Payroll - Seven Years

Time Sheets/Cards - Five Years

Archives of Unclaimed Wages - Six Years

Pension and Retirement Archives - Permanent

D.    Property Archives

Lease Agreements - Permanent

Insurance Policies for Property - Permanent

E.     Tax Archives

Files Regarding Tax-Exemption or Relatable Communication - Permanent

Tax Return Documents (990T and IRS 990) - Permanent

Tax-Related Receipts, Statements and Bills - Seven Years

Original Tax Workpaper Packages  - Seven Years

Tax Records of Sales and Usage - Four Years

F.     Grant Records

Grant Proposals,  Originals - Seven Years Following the Completion of the Grant Timeline

Grant Agreements and Alterations - Seven Years Following the Completion of the Grant Timeline

Every Requested Piece of IRS and Recipient Communication, such as Letters of Determination and “No Change” Statuses in Exemption Letters - Seven Years Following the Completion of the Grant Timeline

Final Narrative and Financial Recipient Reports- Seven Years Following the Completion of the Grant Timeline

Every Occurrence of Returned Grant Funding - Seven Years Following the Completion of the Grant Timeline

Every Applicable Formal Exchange, such as Letters of Opinion from Counsel - Seven Years Following the Completion of the Grant Timeline

Assessment Forms for Reports - Seven Years Following the Completion of the Grant Timeline

Files Including Recipient Evidence of Challenge Grants, Matching Grants and Invoices that Uphold Recipient Acquiescence with the Grant Arrangement - Seven Years Following the Completion of the Grant Timeline

Early Grant Inquiry Documents and Alternate Files for Responsibility and Expenditure Grants - Seven Years Following the Completion of the Grant Timeline

Recipient Work Produced Using the Grant Funds - Seven Years Following the Completion of the Grant Timeline

G.    Contribution Archives

Archives of Contributions - Permanent

The Mission’s or Other Party’s Files That Evidence the Gift Terms - Permanent

H.    Service and Program Archives

Bread of Life Mission’s Convening - Permanent (One Copy)

Research and Publications - Permanent (One Copy)