FundSvcs Community

 View Only

  • 1.  Retention of gift backup

    Posted 11 hours ago

    Hello Friends,

    Is there a set amount of time we are required to keep physical copies of gift backup (copies of checks, letters, etc.)?

    Thanks,

    Bridget



    ------------------------------
    Bridget Everman
    The Music School of Delaware
    beverman@musicschoolofdelaware.org
    ------------------------------


  • 2.  RE: Retention of gift backup

    Posted 10 hours ago
    There is typically no specific obligation to maintain physical copies. Digital copies are sufficient. There are very few types of documents that still must be kept physically, eg IRS power of attorney, but checks and gift collateral can be kept digital-only.

    Thank you,
    Isaac Shalev
    President
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






Related Content