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Document Retention and Destruction Policy

Preamble

Miles2Smile’s document retention and destruction policy aims to systematically document, review, retain, and destroy documents received or created by Miles2Smile in connection with the transactions of Miles2Smile’s non-profit activities. It lays down procedures for destruction and retention in addition to the stipulated time period for which the documents need to be retained. This policy is designed to ensure compliance with federal and state laws and regulations, to eliminate accidental or innocent destruction of records and to facilitate Miles2Smile’s operations by promoting efficiency and freeing up valuable storage space.

Document Retention

The following table indicates the minimum requirements(time period) for which the following documents would be retained by the organisation.

Type of Document

Minimum Requirement

Articles of Incorporation

Permanently

Memorandum of Association

Permanently

Constitution

Permanently

Bylaws

Permanently

Board meeting minutes

Permanently

Email communication

3 years

Accounting and Tax Records 

Type of Document

Minimum Requirement

Annual Audits and Financial Statements

Permanently

Donation Receipts (cash, check, credit card)

5 years

Fund raising expense records

5 years

Investment Statements

5 years

Bank Records 

Type of Document

Minimum Requirement

Bank Statements and Reconciliation

5 years

Electronic funds transfer Documents

5 years

Donor and Grant Records

Type of Document

Minimum Requirement

Grant Application and Contracts

5 years

Legal, Insurance, and Safety Records

Type of Document

Minimum Requirement

Copyright Registrations

Permanently

Insurance policies

Permanently

Trademark Registrations

Permanently

General Contracts with third parties

2 years after termination

Document Destruction 

  1. Paper or electronic documents indicated under the terms for retention in the above  section will be transferred and maintained by the administration and management of the organisation.
  2. All other paper documents will be destroyed after the given time period.  
  3. All other electronic documents will be deleted from all individual computers, data bases, networks, and back-up storage after 1 year;  
  4. No paper or electronic documents will be destroyed or deleted if pertinent to any ongoing or anticipated government investigation or proceeding or private litigation.
  5. No paper or electronic documents will be destroyed or deleted as required to comply with government auditing standards.

Failure

Failure to comply with the policy regarding destruction and retention of documents would result in legal action according to the State laws. The higher management would ensure that all documents are in compliance with new or revised regulations.

Miles2Smile is a non-profit organization registered under Section-8 of the Companies Act 2013 (18 of 2013) and Rule 8-Companies (Incorporation) Rules, 2014. The organization has its headquarter in New Delhi. The prime working area of the organization is relief & rehabilitation of distressed individuals or groups and educational upliftment of the marginalized and underprivileged.

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