The NSO, as a parent organization at the time of this policy and its adoption, has no employees or an office. Its elected leaders and officers are dispersed throughout the United States employed by NEA affiliates.
Accordingly, with due regard to the above, the NSO Executive Committee has developed this Document Retention Policy (“DRP”). The DRP encourages each officer to prudently maintain NSO records. Specifically financial records, treasurer’s reports, and corporate records shall be retained seven (7) years, seven (7) years and three (3)n years respectfully. Documents of incorporation, tax-exempt records, Board minutes and agenda items shall be retained indefinitely in the NSO record books. Executive Committee documents re: quarterly meetings shall be kept according to the attached chart. These records listed shall be kept by the officers or individuals designated by the NSO Executive Committee.
Document Protection #
Documents (hard copy, online or other media) will be stored in a protected environment for the duration of the Document Retention Schedule.
Document Destruction #
Hard copies of documents will be destroyed by shredding after they have been retained until the end of the Document Retention Schedule. Online copies will be destroyed by proven means to destroy such media after they have been retained until the end of the Document Retention Schedule.
PROVISION OF DOCUMENTATION FOR INVESTIGATIONS OR LITIGATION
Provision of Documentation for Investigations or Litigation #
Documents requested and subpoenaed by legally authorized personnel will be provided within legal guidelines. The NSO President will authorize document production with due regard to the numerous locations and persons who may be custodians.
Adopted by the NSO Executive Committee, # 9, October 22, 2010
| CORPORATE RECORDS | DURATION | KEEPER OF RECORDS/CUSTODIAN |
| Articles of Incorporation to apply for corporate status | Permanent | Secretary |
| IRS Form 1023 (in the USA) to file for tax-exempt and/or chartable status. | Permanent | Treasurer |
| Letter of Determination (for example, from the IRS in the USA) granting tax exempt and/or charitable status. | Permanent | Treasurer |
| Bylaws | Permanent | Secretary |
| Board policies | Permanent | Secretary |
| Resolutions | Permanent | Secretary |
| Board meeting minutes | Permanent | Secretary |
| Tax or employee identification number designation | Permanent | Treasurer |
| Annual corporate filings | Permanent | Treasurer |
| FINANCIAL RECORDS | ||
| Chart of accounts | Permanent | Treasurer |
| Fiscal Policies and Procedures | Permanent | Treasurer |
| Audits | Permanent | Treasurer |
| Financial Statements | Permanent | Treasurer |
| General Ledger | Permanent | Treasurer |
| Check registers/books | 7 years | Treasurer |
| Business expenses documents | 7 years | Treasurer |
| Bank deposit slips | 7 years | Treasurer |
| Cancelled checks | 7 years | Treasurer |
| Invoices | 7 years | Treasurer |
| Investment records (deposits/earnings, withdrawals) | 7 years | Treasurer |
| Property asset inventories | 7 years | Treasurer |
| Petty cash receipts/documents | 3 years | Treasurer |
| Credit card receipts/travel vouchers | 3 years | Treasurer |
| Department of Labor (DOL) Reports LM-2, LM-3 or LM- 4 | Permanent | Treasurer |
| TAX RECORDS | ||
| Annual tax filing for the organization (IRS Form 990, 990EZ, or 990N) | Permanent | Treasurer |
| Filings of fees paid to professionals (IRS Form 1099 in the USA) | 7 years | Treasurer |
| INSURANCE RECORDS | ||
| Directors and Officers Insurance Policy | Permanent | Treasurer |
| Insurance Policy | Not applicable | Treasurer |
| General Liability Insurance Policy | Permanent | Treasurer |
| Insurance claims applications | Permanent | Treasurer |
| Insurance disbursements/denials | Permanent | Treasurer |