Nonprofit Records: Understand What To Keep And What To Toss

Nonprofit legal expert Myron Steeves will detail the best practices for recordkeeping, including getting rid of what you do not need.

What You'll Learn

  • Which records are you required by law to maintain and make publicly available?
  • What financial and membership records should you keep?
  • How long should you retain records?
  • Why do many lawyers believe it is better to have fewer records?
  • How can you develop and implement a record retention policy?
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INFORMATION
Training Overview

Do you have all the legally required nonprofit records? Learn what to retain and discard.

COVID-19 threw everything into disarray, including paperwork. From working at home to going in and out of the office, do you know where everything is? IRS Form 990 asks about your record retention policies. The federal Sarbanes-Oxley “whistleblower” law forbids the destruction of certain records. Some documents need to be kept while the requirements for others are less clear. Do you know which of the following items must be retained and for how long?

  • Articles of incorporation
  • Determination letter from the IRS
  • Minutes of meetings
  • Corporate resolutions
  • Donor records
  • Employment and payroll records
  • Other documents and electronic communications

Start by identifying what types of documents—both paper and electronic—you are generating. Once you have this list, you can decide which records to retain because of a business, legal, or regulatory need.

  • Which records are you required by law to maintain and make publicly available?
  • What financial and membership records should you keep?
  • How long should you retain records?
  • Why do many lawyers believe it is better to have fewer records?
  • How can you develop and implement a record retention policy?
Recommended Audience
Who Should Attend?
  • Executive directors
  • Chief executives
  • Financial officers
  • Nonprofit counsel
  • Senior management
  • Managers
  • Human resources professionals
  • Program directors
What's included
Training includes
  • Certificate of Attendance
  • All resources and training materials
About

Expert Presenter

Myron Steeves
  • Attorney in California for 28 years, focusing primarily on nonprofit law
  • Founder of the Church Law Center of California, a legal practice providing services for religious and political organizations, other nonprofit entities, and business leagues for over ten years
  • Current professor at and previous dean of Trinity Law School
  • Served on boards of several charities
  • Member of the California State Bar
  • J.D. degree from Georgetown University Law Center