Document Retention and Destruction

The purpose of this Document Retention and Destruction Policy (hereinafter referred to as this “Policy”) is to identify the record retention responsibilities of employees, staff, volunteers, members of the Board of Directors, and outsiders (i.e., independent contractors), for maintaining and documenting the storage and destruction of Saint Vincent College’s (hereinafter referred to as the “Organization”), documents and records.

The corporate records of the Organization are important assets. Corporate records include essentially all records that you produce as an employee, staff member, volunteer, member of the Board of Directors, or outsider (i.e., independent contractor), whether paper or electronic. A record may be as obvious as a memorandum, an e- mail or a contract; or something not as obvious, such as a computerized desk calendar, an appointment book or an expense record.

The law requires the Organization to maintain certain types of corporate records, usually for a specified period of time. Failure to retain those records for those minimum periods could subject you or the Organization to penalties and fines, cause the loss of rights, obstruct justice, spoil potential evidence in a lawsuit, place the Organization in contempt of court, or seriously disadvantage the Organization in litigation.

The Organization expects all employees to fully comply with any published records-retention or destruction policies and schedules, provided that all employees should note the following general exception to any stated destruction schedule: If you believe, or the Organization informs you, that the Organization’s records are relevant to litigation, or potential litigation (i.e., a dispute that could result in litigation), you must preserve those records until the Board of Directors determines that the records are no longer needed. The foregoing exception supersedes any previously or subsequently established destruction schedule for those records.  If you believe that the foregoing exception may apply, or have any question regarding the possible applicability of such exception, then please contact the Chairman of the Board of Directors or general counsel of the Organization.

From time to time the Organization establishes retention and/or destruction policies or schedules for specific categories of records in order to ensure legal compliance and also to accomplish other objectives, such as preserving intellectual property and cost management.  Several categories of documents that bear special

consideration are identified below.  Although minimum retention periods are suggested, the retention of the documents identified below and of documents not included in the identified categories should be determined primarily by the application of the general guidelines affecting document retention identified above, as well as any other pertinent factors.

ARTICLE II
Tax Records; Financial Records

Tax records include, but may not be limited to, documents concerning payroll, expenses, proof of deductions, business costs, accounting procedures, filed state and federal tax returns/reports and supporting records, tax exemption determination letter and related correspondence, files related to tax audits, and other documents concerning the Organization’s revenues. Financial records include, but may not be limited to, audited financial statements and attorney contingent liability letters. Tax records and financial records shall be retained for ten years.

ARTICLE III
Employment Records; Personnel Records

State and federal statutes require the Organization to keep certain recruitment, employment and personnel information. The Organization should also keep personnel files that reflect performance reviews and any complaints brought against the Organization or individual employees under applicable state and federal statutes. The Organization should keep employee names, addresses, social security numbers, dates of birth, INS Form I-9, resume/application materials, job descriptions, dates of hire and termination/separation, compensation information, promotions, transfers, disciplinary matters, time/payroll records, leave/comp time/FMLA, engagement and discharge correspondence and documentation of basis for independent contractor status. Employment and personnel records should be retained for all current employees and independent contractors, and for ten (10) years after each individual’s departure.

ARTICLE IV
Governance Records

The Organization’s organizational documents, such as articles of incorporation, by-laws, corporate charter and meeting minutes, should be retained in perpetuity in the Organization’s minute book. A clean copy of all Board and Board Committee materials should be kept by the Organization for no less than three (3) years.

ARTICLE V
Press Releases; Public Filings

The Organization should retain permanent copies of all press releases and publicly filed documents under the theory that the Organization should have its own copy to test the accuracy of any document that a member of the public can theoretically produce against the Organization.

ARTICLE VI
Legal Files

Legal counsel should be consulted to determine the retention period of particular documents, but legal documents should generally be maintained for a period of ten (10) years. The final decision to destroy legal files must come from general Counsel.

ARTICLE VII
Grant Applications or Proposals

The Organization should keep final copies of all grant applications or proposals including documents outlining conditions on grants, evidence of disbursements, contracts and other legal documentation. These documents should be kept for at least five (5) years beyond the life of the grant.

ARTICLE VIII
Contracts

Execution copies of all contracts entered into by the Organization, including but not limited to all license agreements, service agreements, independent contractor agreements, employment agreements, consultant agreements and leases, should be retained during the term of the contract and for at least five (5) years after the expiration, termination, or non-renewal of each contract.

ARTICLE IX
Electronic Mail

E-mail that needs to be saved should be either:

1.  printed in hard copy and kept in the appropriate file;
2.  kept electronically on a disk; or
3.  downloaded to a separate computer file in the manner provided by the IT Department.

 The retention period depends upon the subject matter of the e-mail, as covered elsewhere in this Policy.

ARTICLE X
Intellectual Property Records

Copyrights, trademark registrations and samples of protected works shall be retained in perpetuity.

ARTICLE XI
Pension and Benefit Records; Government Relations Records

Pension and benefit records include, but may not be limited to, pension (ERISA) plan participant/beneficiary records, actuarial reports, related correspondence with government agencies, and supporting records. Government relations records include, but may not be limited to, state and federal lobbying and political contribution reports and supporting records.  Pension and benefit records and government relations records shall be retained for a period of ten (10) years.

ARTICLE XII
Other Electronic Records, Documents and Files

To the extent that any electronic record, document or file is not covered under any of the categories set forth above, it shall be maintained for a period of three (3) years unless a shorter time is determined by the Vice-President in charge of the office in which it is generated in consultation with the general counsel of the Organization.

ARTICLE XIII
Exceptions

Exceptions to the rules and terms for retention set forth in this Policy may be granted only by the Organization’s Chairman of the Board, President or general counsel.

ARTICLE XIII
Revision History

Revision/Date/Created By

Created/01.08.2015/Legal Cousel

Revised/07.23.2021/Justin Fabin