CFAR Document Retention and Destruction Policy

Purpose:

To ensure the proper management, retention, and destruction of CFAR’s documents and records in compliance with legal and regulatory requirements.

Scope:

This policy applies to all physical and electronic records created or received by CFAR in connection with its operations, programs, and governance.

Policy Statement:

CFAR maintains complete and accurate records of its activities, finances, and governance. Records will be retained for the minimum periods required by law or as necessary for operational, historical, or audit purposes.

Retention Guidelines:

• Permanent Records: Articles of incorporation, IRS determination letter, Board minutes, audited financials, and major contracts.
  
  
• Seven Years: Accounting ledgers, tax filings (including Form 990s), payroll records, and grant documentation.
  
  
• Three Years: Routine correspondence, internal reports, and minor agreements.
  
  
• One Year: Drafts, duplicates, or informal notes not necessary for compliance or reference.

Destruction Procedure:

Records may be destroyed after their retention period has expired, provided there is no pending investigation, litigation, or audit. Destruction shall be conducted securely and documented.

Review and Approval:

This policy will be reviewed annually by the Board of Directors.