Nonprofit Records: Understand What to Keep & When to Toss It

Thursday, May 2, 2019 - 11:00am to 12:30pm
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Nonprofit WebAdvisor

It’s easy for a nonprofit to keep records on everything today, particularly in this digital age. It’s not quite as easy, however, to know what records you are required to have and what you don’t have to have or save. IRS Form 990 asks about your record retention policies and the federal Sarbanes-Oxley “whistleblower” law actually forbids the destruction of certain records. There is much at stake for the nonprofit. It’s just common sense that you need to have documents like your articles of incorporation, the determination letter from the IRS minutes of meetings, corporate resolutions, etc. But there are other records that you may be less certain about. For example, what about donor records and employment and payroll records, just to mention a few? Then there are related questions concerning how long certain records need be kept and what to do if an important record is destroyed. Before you can decide, however, what records you need to have, you first have to identify what types of paperwork—both paper and electronic—you are generating. Once you have this list you’ll be in a better position to decide which documents should be retained because of a business, legal, or regulatory need. You may also be able to see if there are certain necessary documents you are missing. And with a better understanding you can then prepare a formal document retention policy which can be disseminated to everyone throughout your organization. Getting all of this together can be a tall order for busy nonprofit executives, but the risks of not having what you need can be significant as well. Please join Myron Steeves, an experienced nonprofit attorney, as he explains the dos and don’ts of recordkeeping, including the importance of getting rid of what you don’t need.

What You'll Learn

Just a sampling of what this webinar will cover:

  • Which federal & state records you are required by law to maintain & to make publicly available

  • An understanding of the financial & membership records you should keep, including what should be kept permanently and what to toss

  • An insight into why many lawyers believe fewer records are better

  • How to develop & implement a record retention policy

Your Conference Leader

Your conference leader for “Nonprofit Records: Understand What to Keep & When to Toss It” is Myron Steeves. Myron is an attorney who been practicing law in Orange County, California for 28 years. His work combined business litigation and nonprofit organization law for the first 20 years of his practice, by has worked primarily is assisting charities for the past ten years, since creating the Church Law Center of California. While serving a wide variety of nonprofit organizations, the practice has emphasized service for religious and political organizations, as well as business leagues.

Myron has been employed by charities during his career, and has served on several boards, which has given him a unique perspective of the legal needs of charities. He also served as the dean of Trinity Law School, and continues to te

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