Document Retention and Destruction Policy

Purpose
To establish required retention periods, ensure legal compliance, and authorize proper destruction of records for Gbarnga Lutheran Mission Project, Inc.

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Retention Rules

1. Permanent Records

   • Articles of Incorporation

   • IRS Determination Letter

   • Bylaws and amendments

   • Board minutes

   • Corporate policies

   • Audited financial statements

   • Real-estate documents or long-term contracts

2. 7-Year Records

   • Financial statements (unaudited)

   • General ledgers

   • Bank statements, checks, and reconciliations

   • Payroll records (if applicable)

   • Grant documents

   • Expense reports and receipts

   • Independent contractor agreements

3. 3-Year Records

   • Routine correspondence

   • Administrative files

   • Volunteer records (non-sensitive)

4. 1-Year Records

   • Drafts, notes, duplicate copies

   • Unnecessary emails

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Destruction Procedure

• Records may be destroyed after expiration of the required period.

• Destruction must be secure (shredding or electronic wiping).

• No documents may be destroyed if litigation, audit, or investigation is pending.