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Process for keeping donors gift records

Last post 08-12-2009 11:16 AM by Laurel Quaintance. 1 replies.
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  • 08-12-2009 9:18 AM

    • Heather Hendrix
    • Not Ranked
    • User Since: 2004
    • Posts 8
    • Organization: Saint Mary-of-the Woods College
    • Products:  The Raiser's Edge

    Process for keeping donors gift records

    I wasn't sure if anyone knew for an advancement office is there a required timeline for keeping donors gifts (copy of check and and paperwork that came in with the donation).  We currently store all of this stuff in a storage room which is out of room.  I wondered if we could shred the older documents.  I think some of our documents go back to the 80's.

     Thanks for any assistance you can provide.

  • 08-12-2009 11:16 AM In reply to

    Re: Process for keeping donors gift records

    If you are a non profit, the new 990 suggests a data retention policy that may help in this area. I believe most records in regards to audits and financials are 7 years - but you'll wnat to check with legal council. And btw there is no regulation or law requiring you to keep copies of checks - you just need backup documentation so a reply slip from a mailing should suffice.

     some research:

    http://www.probonopartner.org/publications/Corporate%20Governance/http___www.lawhelp.org_documents_390901DC_554772-v5-Form_990_alert_-_doc_retentionc-lpedits.pdf

    http://www.chhsm.org/pdfs/record-retention.pdf

     

    Laurel Quaintance
    Manager, Fund Development Services
    Filed under:
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