Records Retention Requirements

How long should your nonprofit keep meeting minutes and related records? Proper retention protects your organization and ensures IRS compliance.

Quick Answer

Meeting Minutes: Keep permanently (forever)

Meeting Recordings: Keep for at least 7 years

Supporting Documents: Follow document-specific retention rules

Detailed Retention Schedule

Meeting Minutes - PERMANENT

Retention: Forever

Why permanent:

• Prove corporate history
• Defend against legal challenges
• Document major decisions
• Show consistent governance
• Required for IRS audits (no time limit)

Storage:

• Physical: Fireproof safe or offsite storage
• Digital: Multiple backups, cloud storage
• Both: Belt-and-suspenders approach recommended

Meeting Recordings - 7 YEARS MINIMUM

Retention: Minimum 7 years (matches Form 990 retention)

Why 7 years:

• IRS can audit back 3 years (6 for significant errors)
• Statute of limitations for most legal issues
• Matches other financial record requirements

After 7 years:

• Can safely destroy recordings
• Minutes remain permanent
• Document destruction date

Supporting Documents

Financial Statements - 7 YEARS

• Board-approved budgets
• Financial reports presented
• Audit reports

Committee Reports - 7 YEARS

• Written committee reports
• Recommendations to board
• Background materials

Conflict of Interest Disclosures - PERMANENT

• All conflict disclosures
• Recusal documentation
• Transaction approvals

Correspondence - 3-7 YEARS

• Important correspondence: 7 years
• Routine correspondence: 3 years
• Electronic communications: Same rules

Employment Records - VARIES

• Employee files: 7 years after separation
• I-9 forms: 3 years after hire or 1 year after separation
• Benefits: Varies by benefit type

IRS Requirements

Form 990 Retention

All Form 990 returns: Keep for 7 years minimum

Related documentation:

• All supporting documents
• Board meeting minutes
• Financial statements
• Executive compensation data

Audit Protection

IRS can audit:

• Generally: 3 years back
• Substantial understatement: 6 years back
• Fraud: No time limit

Best practice: Keep Form 990 records for 7 years minimum

State Law Requirements

Many states have specific retention requirements:

Common State Requirements:

• California: Minutes kept permanently
• New York: Minutes kept permanently
• Most states: Meeting minutes permanent, other records 3-7 years

Action: Check your state's nonprofit laws for specific requirements

Best Practices for Record Retention

1. Create a Retention Policy

Include in policy:

• What records to keep
• How long to keep them
• Where they're stored
• Who has access
• Destruction procedures

Review annually and update as laws change

2. Organize Records Systematically

Physical Records:

• Labeled binders by year
• Fireproof safe for permanents
• Climate-controlled storage
• Offsite backup copies

Digital Records:

• Organized folder structure
• Cloud storage with backups
• Regular backup testing
• Access controls

3. Document Destruction Procedures

When destroying records:

• Follow retention schedule
• Document what was destroyed
• Document destruction date
• Use secure destruction method

Never destroy:

• Records under legal hold
• Records related to pending litigation
• Records requested by authorities

4. Train Staff and Board

Everyone should know:

• What to keep
• How long to keep it
• Where to store it
• How to access records

Digital vs. Physical Storage

Advantages of Digital Storage:

Pros:

• Easy to search
• Multiple backups
• No physical space needed
• Quick access from anywhere
• Disaster-resistant (if cloud-stored)

Cons:

• Technology changes (file formats)
• Requires regular backup maintenance
• Potential security risks

Advantages of Physical Storage:

Pros:

• No technology dependence
• Original signatures preserved
• Traditional legal acceptance
• Tangible backup

Cons:

• Requires physical space
• Susceptible to fire/water damage
• Harder to search
• Can deteriorate over time

Recommended Approach:

Hybrid system:

• Scan all documents to digital
• Keep originals of critical documents
• Store digital files in cloud
• Keep physical copies offsite

What If You Don't Have Old Minutes?

Don't panic. Many nonprofits have gaps in their records.

Steps to take:

1. Document the gap

   • Note what years are missing
   • Explain circumstances if known

2. Start fresh now

   • Begin keeping minutes immediately
   • Follow proper procedures going forward

3. Reconstruct if possible

   • Review old financial records
   • Check email archives
   • Interview long-time board members
   • Create summary of known decisions

4. Get legal advice

   • Consult nonprofit attorney if gap is significant
   • May need to ratify past decisions

Common Questions

Can we store minutes electronically only?

Yes, if you follow these guidelines:

• Regular backups
• Secure access controls
• Protection from tampering
• Meet state electronic records laws

Who should have access to old minutes?

• Current board members: Usually yes
• Former board members: Usually no
• Staff: As authorized by board
• Public: Depends on state sunshine laws

What about confidential executive session minutes?

• Keep separate from regular minutes
• Same retention rules apply
• Limit access appropriately
• May be sealed by board vote

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