GMCS is providing this third part
of the three part series on Association / Non-Profit Good Governance. In this
series, we will explore the basic policies of good governance as noted on your
organization’s tax returns. These
policies create a foundation to ensure that there are adequate polices in place
to promote an environment of ethical activity and good governance.
These important policies are
listed on your firm’s 990’s under, Part VI: Governance, Management and
Disclosure: Section B. Policies. An
explanation of these basic polices are contained within the IRS 990 Instructions
Document contained here… They are as follows:
- A written whistle blower policy
- A written conflict of interest policy
- A document retention and destruction policy
A document retention and destruction policy identifies
the record retention responsibilities of staff, volunteers, board members, and
outsiders for maintaining and documenting the storage and destruction of the
organization's documents and records.
The process of developing a
document retention policy involves:
(1)
Identifying what types of paperwork (and electronic files) your nonprofit
generates;
(2)
Determining the appropriate (and legal) length of time to retain them
(3)
Recording those retention times on a written schedule.
The following is an
excellent example of a document retention and destruction policy as presented
by the American Institute of Certified Public Accountants.
Read the first two parts of
this three part series by following the links below:
Source: Council
of Nonprofits
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