Document Retention and Destruction Policy
Washington County Community Foundation Policy on Document Retention and Destruction
The Washington County Community Foundation has adopted this Document Retention and Destruction Policy to identify the process for maintaining and documenting the storage and destruction of the WCCF’s documents and records. No paper or electronic documents will be destroyed or deleted if pertinent to any ongoing or anticipated government investigation or proceeding or private litigation.
I. Implementation and Responsibility
This policy shall be implemented by the President & CEO who shall assign individual responsibilities to a member of the WCCF Administrative Staff to be known as the Archivist. The Archivist shall:
- Maintain paper documents indicated under the stated terms for retention.
- Destroy all other paper documents after three years.
- Maintain all electronic data contained in the Community Pearl Database indefinitely.
- Maintain electronic data contained in the WCCFDATA Network for five years.
II. Items to Retain Permanently
- Governance records – Articles of Incorporation, Bylaws, other organizational documents, governing board and board committee minutes.
- Contracts – Fully executed fund contracts for all permanent funds.
- Tax records – Filed state and federal tax returns/reports and supporting records, tax exemption determination letter and related correspondence, files related to tax audits.
- Intellectual property records – Copyright and trademark registrations and samples of protected works.
- Financial records – Audited financial statements, attorney contingent liability letters.
- Publications – An electronic copy of each annual report, newsletter and any other publication produced by the WCCF.
III. Items to Retain for Ten Years
- Pension and benefit records -- Pension (ERISA) plan participant/beneficiary records, actuarial reports, related correspondence with government agencies, and supporting records.
- Government relations records – State and federal lobbying and political contribution reports and supporting records.
- Employee/employment records – Employee names, addresses, social security numbers, dates of birth, INS Form I-9, resume/application materials, job descriptions, dates of hire and termination/separation, evaluations, compensation information, promotions, transfers, disciplinary matters, time/payroll records, leave/comp time/FMLA, engagement and discharge correspondence, documentation of basis for independent contractor status (retain for all current employees and independent contractors and for five years after departure of each individual).
IV. Items to Retain for Five Years
- Lease, insurance, and contract/license records – Software license agreements, vendor, hotel, and service agreements, independent contractor agreements, employment agreements, consultant agreements, and all other agreements (retain during the term of the agreement and for three years after the termination, expiration, non-renewal of each agreement).
- Gift acknowledgement letters with appropriate substantiation documentation
- Bank statements, vendor invoices and individual solicitation letters.
- Approved grants – Original application and funding contract for all approved grants, whether from permanent or temporary funds.
- Approved scholarships – Original application for all approved scholarships, whether from permanent or temporary funds.
Date of Adoption: October 28, 2008