Asha for Education Document Destruction and Retention Policy

Asha for EducationDocument Destruction and Retention PolicyPurposeThis policy provides for the systematic review, retention, and destruction ofdocuments receivedor created by Asha for Education [hereafter referred to as Asha] in connection withthetransactions of Asha’s non-profit activities. This policy covers allrecords and documents,regardless of physical form, contains guidelines for howlong certain documents should be keptand how records should be destroyed.The policy is designed to ensure compliance with federaland state laws andregulations, to eliminate accidental or innocent destruction of records andtofacilitateAsha’soperations by promoting efficiency andfreeing up valuable storage space.Document RetentionAsha will follow the document retention procedures outlined below. Documentsthat are notlisted, but are substantially similar to those listed in the schedule, will beretained for theappropriate length of time.Corporate RecordsType of DocumentArticles of IncorporationDetermination Letter from IRSConstitutionBylawsBoard meeting minutesAnnual Reports to Secretary of State/Attorney GeneralResolutions (via ARC process defined separately)Email communicationAccounting and Tax RecordsType of DocumentAnnual Audits and Financial StatementsIRS Form 990 Tax returnsDonation Receipts (cash, check, credit card)Fund raising expense recordsInvestment StatementsBank RecordsType of DocumentBank Statements and ReconciliationElectronic funds transfer DocumentsMinimum requirementPermanentlyPermanentlyPermanentlyPermanentlyPermanentlyPermanentlyPermanently7 yearsMinimum requirementPermanentlyPermanently5 years5 years5 yearsMinimum requirement5 years5 years

Donor and Grant RecordsType of DocumentFrant Application and ContractsLegal, Insurance, and Safety RecordsType of DocumentCopyright RegistrationsInsurance policiesTrademark RegistrationsGeneral Contracts with third partiesMinimum requirement5 yearsMinimum requirementPermanentlyPermanentlyPermanently2 years after terminationElectronic Documents and RecordsElectronic documents will be retained as if they were paper documents. Therefore,anyelectronic files, including records of donations made online, that fall into one ofthedocument types on the above schedule will be maintained for the appropriate amountoftime. If a user has sufficient reason to keep an e-mail message, the message should bemovedto an “archive” computerfile folder maintained by the web team of Asha.Emergency PlanningAsha’s records will be stored in a safe, secure, and accessible manner.Documents and financialfiles thatare essential to keeping Ashaoperating inan emergency will be maintained inredundant locations.Document DestructionAsha’s Coordinator Team (Asha President and his/her team of volunteers) will be responsiblefor the ongoing process ofidentifying its records, which have met the required retention period,and overseeing theirdestruction. Destruction of financial documents will beaccomplished byshredding.Document destruction will be suspended immediately, upon any indication of anofficialinvestigation or when a lawsuit is filed or appears imminent. Destruction will bereinstatedupon conclusion of the investigation.ComplianceFailure on the part of the volunteers to follow this policy can result in possible civil andcriminal sanctions against Ashaand its volunteers. The elected body of Asha will periodicallyreview these procedures with legal counsel or the organization’scertified public accountant toensure that they are in compliance with new or revisedregulations.