How long should we keep certain church records? We recommend a church establish a records retention policy. The following list offers some retention guidelines. Boxes containing records should indicate a description of the documents enclosed, the time period that they relate to i. Some documents, because of their vital nature to the church, should be stored in a protective environment, such as a safe, a safe deposit box, or some other secure and protected location.
This article was originally published on ag. Disclaimer: The purpose of this FAQ is to provide basic information regarding church administration. Information contained within is generic in nature and is intended as a guide, not a substitute for seeking professional advice specific to your church or any state laws. If you have explicit concerns, please consult a professional. Doug Clay answers frequently asked questions concerning church business practices.
Subscribe to Newsletter. E-mail address. Copies of expired insurance policies are also good to have in a permanent file in order to preserve the record regarding what coverages were provided by which carriers at any given point in time. Financial Records are traditionally kept for seven years. Most organizations simply make the seven-year-rule standard for all records containing financial information since any financial document may potentially be required during a tax audit.
Employment Records should be kept while the employee remains employed and for seven years after the individual leaves employment. Employee benefit records may require an even longer retention period.
This is necessary for documentation purposes in case the employee has questions about his or her status, benefits, compensation, etc. For Operational Records , the desired period of retention will depend on the statute of limitations for any legal action that might be related to the records in question. For churches and other organizations that minister to youth, this becomes more complicated because the statute of limitations applies differently to minors than it does to adults.
In sexual misconduct cases, some state legislatures have passed special laws allowing allegations dating back 30 years or more regardless of the statute of limitations. This year retention period would be for all records other than historically significant records such as deeds, bylaws, insurance policies which should be retained indefinitely , and employee records which should be kept until seven years after the employee leaves.
Organizations should also carefully consider maintaining back-up systems or off-site digital storage to prevent the total loss of important records in case of a catastrophe. Consider the following list of records as you determine what you will need to retain to maintain effective ministry documentation. Consult with an attorney in your area for advice about the records state and local laws and regulators require. Thank you for your interest in Brotherhood Mutual.
We appreciate the opportunity to provide your church or other ministry with an insurance quote and will reply to your request as soon as possible. Records Retention for Ministries Know what to keep; for how long Most of us are working with paper and electronic files that are too large to easily find specific information when we need it.
A good record-retention systems allows you to: Respond to current questions based on past decisions such as the process for electing new leadership team members.
It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations. Note: I am a "partner" of Gusto, but as I have told you before Church Accounting Package!
Jan To Do! Church Accounting Package A set of 4 ebooks that covers the following topics Fund Accounting Examples and Explanations Setting up a fund accounting system Donation management Minister compensation and taxes Internal controls and staff reimbursements Much more - Click here for details.
See this article on: 8 Tips to Keep Track of Receipts.
0コメント