Winthrop University Foundation
Records Retention and Document Destruction Schedule
Category of Records
Description of Records
Retention Period
Method of Disposition
Corporation
Records/Governance
Articles of Incorporation
Board Meeting and Board Committee Minutes
Board Policies/Resolutions
Bylaws
IRS Determination Letter
Permanent
Permanent
Permanent
Permanent
Permanent
N/A
N/A
N/A
N/A
N/A
Financial
Annual Audits and Financial Statements
IRS Form 990 and 990T Tax Returns
Depreciation Schedules
General Ledgers
Notes Receivable
Property records
Unclaimed Property Reports
Investment Statements
IRS Forms 1099
Journal Entries
Check Register
Expense Records
Invoices
Invoices for payments to vendors, employees
Bank statements and reconciliations
EFT documents
Sales Records (box office, concessions)
Petty Cash vouchers
Credit Card receipts
Permanent
Permanent
Permanent
Permanent
Permanent
Permanent
Permanent
Permanent
7 years
7 years
7 years
7 years
7 years
7 years
7 years
7 years
5 years
3 years
3 years
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Donor Records
Memorandums of Agreement with Donors
Acknowledgement Letters
Donor Records
Permanent
7 years
7 years
N/A
Shred at the end of retention period
Shred at the end of retention period
Employee
E l
Recor
R
ds
Employment and Termination Agreements
Records Relating to Promotion, Demotion, or Discharge
A id t Reports
Accident
R
t andd Worker's
W k ' Compensation
C
ti Records
R
d
Employment Applications
Time Cards
Permanent
5 years after termination
3 years
2 years
5 years
N/A
Shred at the end of retention period
Shred
Sh d att the
th endd off retention
t ti perio
i d
Shred at the end of retention period
Shred at the end of retention period
Legal & Insurance
Appraisals
Environmental Studies
Real Estate Documents
Stock and Bond Records
Leases
OSHA Documents
General Contracts
Property Insurance Policies
Liability Insurance Policies
Permanent
Permanent
Permanent
Permanent
6 years after expiration
5 years
3 years after termination
Life of Policy
Life of Policy
N/A
N/A
N/A
N/A
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Shred at the end of retention period
Paper or Electronic
Correspondence
Paper or Electronic documents will be retained as if they
were paper documents. Therefore, any electronic files that
fall into one of the document types above will be
maintained for the appropriate amount of time. If a user has
sufficient reason to keep an email message, it should be
printed or moved to an "archive" folder.
Adopted December 10, 2009