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About Lamaze

Administration: Record Retention and Storage

Purpose

This policy covers all records and documents, regardless of physical form or characteristics, both paper and electronic, which have been made or received by Lamaze International in connection with the administration of all organizational activity.

Membership Records

All member records are maintained on Lamaze International’s secure database (iMIS). Such records are accessible only to staff who are involved in membership processing. Records are password protected. In a physical format, membership records are maintained in cabinets in a secure office, or after two years are sent to a secure off-site storage facility.

Organizational Records

Records pertaining to the management of Lamaze International, including corporate and financial documents, organizational board and committee minutes, human resources files and other general records are maintained in a secure office space on the premises of the Administrative Office. After one year these records may be transferred to a secure storage unit until their retention date has expired. Permanent means records are kept on file for as long as the organization is in operation. Records will be periodically reviewed and records past their noted retention period will be destroyed.

Record Retention Schedule

A complete retention schedule is listed below.

Accounting Retention Period
Accounts receivable reports 7 years
Accounts payable reports 7 years
Auditors’ reports/work papers Permanent
Bank deposit slips 7 years
Bank statements, reconciliations 7 years
Budgets 7 years
Cancelled checks 7 years
Cash disbursements journal Permanent
Cash receipts journal Permanent
Depreciation records Permanent
Employee expense reports 7 years
Volunteer expense reports 7 years
Independent contractor expense reports 7 years
Employee payroll records (W-2, W-4, annual earnings records, etc.) 7 years
Financial statements (annual) 7 years
Financial statements (interim/internal) 7 years
General journal or ledger Permanent
Inventory lists Permanent
Invoices 7 years
Payroll journal 7 years
Petty cash vouchers 7 years
   
Corporate Records Retention Period
Annual Report (State of Illinois) Permanent
Constitution Permanent
Bylaws Permanent
IRS Determination Letter Permanent
Contracts, sales (UCC) 7 years
Contracts, generally 7 years
Contract, government 7 years
Minutes (board executive session) Permanent
Minutes (board and committees with board authority) Permanent
Minutes (committees without board authority) Permanent
Qualifications to do business Permanent
 
Insurance Retention Period
Accident reports 7 years
Insurance claims 7 years
Insurance policies Permanent
 
Membership and Registration Retention Period
Membership applications and dues remittances 7 years
Membership qualifications documentation 3 months following approval
Registration applications and remittances 7 years
 
Miscellaneous Legal Retention Period
Claims and litigation files 7 years
Copyright, patent and trademark registrations Permanent
 
Personnel Retention Period
Applications 1 year
Employee earnings/payroll records 7 years
Employee files Permanent
Employee pension records, including service, eligibility, personal information, pensions paid 7 years
Employment contracts 7 years
Garnishments 7 years
Government reports 7 years
Pension, profit-sharing plans Permanent
Time cards/sheets 7 years
 
Taxes Retention Period
Income tax returns and cancelled checks (federal, state and local) Permanent
Payroll tax returns Permanent
Sales and use tax returns Permanent
 
General Retention Period
Supporting correspondence and notes re: patents, copyrights, licenses, agreements, bills of sale, permits, liabilities, etc. Permanent

Drafted: March, 2008