Records Retention Policy

Each type of document is listed with the length of time held. All paper files are located in the Administrative offices. All computer files are retained permanently. When the designated length of time is reached, paper documents are shredded.

Document Retention

Type of Document Length of Time Held
Accounts payable ledgers and schedules 7 years
Accounts receivable ledgers and schedules 7 years
Audit reports of accountants Permantly
Bank statements 7 years
Capital stock and bonds records 7 years
Contracts and leases (expired) 7 years
Correspondence (general) 7 years
Correspondence (legal) 7 years
Donation records (computer) 7 years
Donation records (paper) 7 years
Employee personal records (after termination) 7 years
Financial statements 7 years
Insurance policies (expired) 7 years
Insurance records Permantly
Inventories 7 years
Invoices from vendors 7 years
Payroll records and summeries 7 years
Purchase orders 7 years
Tax returns and other documents relating to determination of tax liability 7 years