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  • 1.  Record Retention

    Posted 05-27-2025 11:11 AM

    My organization is updating our records retention policy.  Currently all of our record types have a retention period of "permanent".   These records consist of donations, endowments, trusts, bequests and contributions.

    The recommendation is to limit the retention period (of physical copies) to six years for all types since everything is already stored electronically.  

    Is there a best practice and/or legal requirement to store physical documents of any of these document types permanently?

    Thank you in advance!

    Dale



    ------------------------------
    Dale Hailey
    Sutter Health Philanthropy
    dale.hailey@sutterhealth.org
    ------------------------------


  • 2.  RE: Record Retention

    Posted 05-27-2025 11:23 AM
    I am not certain you need to retain any paper copies if they are being stored electronically. What does Counsel say?

    The only paper documents you might feel like holding onto represent a legally binding contract (still in force), and those with raised seals. Once in a while, lawyers will ask for the originals of these (in some jurisdictions). But, even then, you can often print the electronic version and certify it as a "true" copy.

    BTW, the IRS allows digital copies of everything.

    Regardless of what we say in FundSvcs-land, you must adhere to whatever rules Counsel or your Auditors demand.

    John


    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Record Retention

    Posted 05-27-2025 11:40 AM

    Thanks, as always, John!

     

    Dale Hailey

    Business Decision Support Analyst III

    Philanthropy Operations

     

    Sutter Health

     

    M 818-523-5618

    Dale.Hailey@sutterhealth.org

    sutterhealth.org

     

     






  • 4.  RE: Record Retention

    Posted 05-27-2025 12:49 PM
    The only thing I'm aware of that the IRS still requires a wet signature for - and thus, a paper record - is power of attorney. Everything else can be electronic. 


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