Many nonprofits don’t pay enough attention to their recordkeeping retention and destruction procedures even though IRS Form 990 specifically asks whether the nonprofit has a written document retention policy. It’s easy sometimes to forget the need for strong document retention policies and procedures when faced with the responsibility of managing a nonprofit from day-to-day and achieving its mission. Yet inadequate document retention can have troubling consequences, and depending on the document(s) in question could wind up involving the IRS and the Courts and potentially expose your nonprofit to serious legal risk. Good documentation retention begins with understanding what types of documents—whether they be in print or electronic format—need to be retained and for how long. It also involves identifying how and where such documents should be stored and setting up schedules for the destruction of documents which either need not be stored or have reached the time when they no longer must be retained. And after all this has been done you’ll need to make sure that your full-time staff, volunteers, and board members understand your document retention policies and are following them. Strong document retention can involve many people and retention requirements will differ depending on the type of the document in question. Please join John Bradley, attorney at law, as he takes you through the steps of organizing and reviewing your document retention policies and procedures and helps identify for how long different types of documents need to be retained.
WHAT YOU’LL LEARN
Just a sampling of what this webinar will cover:
- Review IRS Form 990 and other regulatory issues relating to record retention and destruction
- Learn what types of documents need to be retained and for how long. For example documents relating to: IRS, charter and governance, employment, contracts, etc.
- Discuss categorizing documents as either: permanent records, records required to be stored for set periods of time, and records that are not required to be stored. Know which types of records fall into each of the three categories
- Discuss under what circumstances records which have either reached their maximum retention requirement and records that do not need to be retained should regardless still be retained by your nonprofit
- Review IRS record retention requirements
- Understand the importance of setting up procedures and schedules for the destruction of records which may be destroyed
- Review record retention requirements relating to both print and electronic records
- Hear how both print and electronic records should be stored
- Review your current or develop a new record retention and destruction policy
- Know the importance of training your staff, volunteers, and Board members on your policy
YOUR CONFERENCE LEADER
Your conference leader for “Nonprofit Record Retention Policy: A Crucial Management Consideration Not to Be Overlooked” is John Bradley, attorney at law in the West Columbia, South Carolina office of Moore Taylor Law Firm, PA. His 25 plus years of practice has involved numerous areas of law including appellate practice in state and federal courts, construction law, commercial liability, and products liability. His present practice primarily focuses on representing physicians, hospitals and medical care providers in the defense of professional negligence claims as well as representing and advising educators in employment matters before their local school boards and the State Department of Education.
John has long been active in nonprofits at the Local and State level. He is a former president and current vice president and volunteer of the Friends of the Richland Library, a nationally recognized library system. He presently serves as a member of the Richland Friends Book Sale Committee, a group that raises money for the Friends through quarterly book sales, put on entirely through volunteer effort. As president of the Richland Library Friends he served as a member of the Richland Library Foundation Board. He is immediate past president and current board member of the Friends of South Carolina Libraries, an organization made up of library friends groups throughout the State of South Carolina. His duties and responsibilities as president included working and consulting with local Friends groups as well as with individuals interested in forming friends groups.
An avid runner, John presently serves on the board for the Carolina Marathon Association, an organization that puts on two showcase running events in Columbia, the Governor’s Cup Road Race and the Heart and Sole race. He has served as race director and course manager for several other local road races.