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Record Retention and Document Destruction Policy

Introduction

Record retention and document destruction are distinct but complementary issues. Record retention balances the need for an organization to maintain accurate and appropriate files with the challenge of limited physical and electronic space for archives. All businesses need to keep documents that preserve institutional history for strategic planning, regulatory compliance, and legal purposes.

The Sarbanes-Oxley Act of 2002 forbids purging of documents when any organization — nonprofit or for- profit — is under federal investigation. Document destruction policies provide guidelines for the proper disposal of records and prevent destruction of relevant documentation if the organization is involved in litigation.

It is a federal crime to alter, cover up, falsify, or destroy any document to prevent its use in an official proceeding. Retention and destruction policies are helpful under any circumstances. When already in place, these policies not only help nonprofits retain appropriate historical and legal documentation, but they also clarify the steps to take if a federal investigation ever takes place.

Record Retention and Document Destruction Policy

The CRT takes seriously its obligations to preserve information relating to litigation, tax filings, audits, and investigations. The Sarbanes-Oxley Act of 2002 makes it a crime to alter, cover up, falsify, or destroy any document to prevent its use in an official proceeding. Failure on the part of Directors, Officers, Employees, or Volunteers to follow this policy can result in possible civil and criminal sanctions against the CRT and its board of directors, officers, employees; and possible disciplinary action against responsible individuals up to and including termination of CRT Enrollment or employment.

Electronic Files

No official or operational CRT files will be placed solely on a single Director's, Officer's, or Volunteer's personal computer or with access limited to a sole person.  This includes membership records, program records, contracts, accounting records, and government filings.  Files and records are to be uploaded to cloud according to a CRT Board approved provider such as Google Documents or Microsoft 360.

Passwords

The CRT Treasurer and the Board Chairman shall be given and shall securely retain all passwords to CRT websites, domain registries, government websites, and any encrypted files or documents.  Passwords shall not otherwise be shared except to those persons authorized by the Board to have access.

Participation Waiver Forms

Signed participation Waiver Forms shall be kept for three years following the end of a membership period.

Accounting Records and Legal & Tax Filings.

The CRT will retain documents in accordance with Generally Accepted Accounting Practices, statutes of limitation, and applicable laws; In all instances regardless of the preceding, documents will be retained for at least three (3) years.

From time to time, the President or the Chair of the Audit Committee may issue a “legal hold,” suspending the destruction of any records due to pending, threatened, or otherwise reasonably foreseeable litigation, audits, government investigations, or similar proceedings. No records specified in any legal hold may be destroyed, even if the scheduled destruction date has passed, until the legal hold is withdrawn in writing by the person placing the hold.

Claremont Running Team is a 501(c)3 non-profit organization

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