When you no longer need a document, you'll need to erase, shred or otherwise destroy it so that any confidential information can't be read or reconstructed. Appropriate destruction is particularly important for personal data — U. Unnecessary storage beyond the required time period also implies storage costs for your organization. The overview attached below, provided courtesy of Buzzacott Chartered Accountants , lists suggested retention periods for the documents most commonly held by charities, and gives a brief explanation of the period given.
It includes documents under the following categories:. The information provided is current as of April It isn't a comprehensive statement of law or current practice. Professional advice should be taken to consider your organization's specific circumstances. MissionBox editorial content is offered as guidance only, and is not meant, nor should it be construed as, a replacement for certified, professional expertise. Click OK to accept all cookies and carry on using the site.
Facebook Tweet Email. Would you like to make a donation? We hope you find this page useful. Starting a group. First steps for new groups. Getting a group started. Managing funds for short-lived crisis-response groups. Organising a public meeting. Choosing a legal structure. Legal structures for community groups and not-for-profit organisations.
Charity Registration. Writing a constitution. Opening a bank account. Bank accounts for community groups. Entity Tax Residency Self-certification form. Your group's money. Setting up a social enterprise.
Getting outside help with starting a group. Is your AGM coming up? Support for Chairs. Support for Secretaries. Support for Tenants' and Residents' Associations. Support for treasurers. Support with publicity and printing. Support for Resource Centre Member Groups. Raising Money.
Favourite Funders for capital and equipment costs. Asda Green Token Giving. Awards for All National Lottery. Chalk Cliff Trust. Covid grants. East Brighton Trust Fund. Enjoolata Community Grants. Gatwick Airport Community Trust. Hall and Woodhouse Community Chest. Healthy Neighbourhood Fund. Lions Clubs. National Lottery Grants for Heritage. National Lottery Reaching Communities England. One Stop Community Partnerships. Patcham Community Fund. Pebble Trust.
Postcode Society Trust. Rampion Fund. Rotary Club of Brighton. Southern Gardening Neighbours. Sport England Return to Play small grants. The Southern Co-operative: Love your neighbourhood fund. Waitrose Community Matters. Favourite Funders for existing activities and running costs. Allen Lane Foundation. Brighton District Nursing Association Trust. Clarity Environmental. Edge Fund. Hedgcock Bequest. Lush Charity Pot. Sanctuary Housing Covid Fund. Southern Community Bounce Back grants.
Sussex Community Foundation. The Homity Trust. Yapp Charitable Trust. Favourite Funders for specific projects and new activities. Brighton Soup. Cameron Grants for Innovation in Mental Health.
Food Security in East Sussex fund. Hilden Charitable Fund. Hilden Summer Play Scheme fund. Southern Making Lives Better grants. Sport England Small Grants. Sussex Gardens Trust. Useful research for fundraising. Fundraising Strategy. Budgets for community groups. Fundraising from local businesses. Fundraising ideas. Monitoring and Evaluation. Planning a funding application. Fundraising from trusts. Fundraising Events and Ideas.
Event planning checklist. Hiring equipment from the Resource Centre. Licensing and regulations for events and fundraising activities.
Organising online activities and events. Most nonprofits and charities must keep books and records for a minimum of six years from the end of the last tax year to which they relate.
This retention period will be extended if returns are late-filed or if there is a notice of objection or appeal underway. An exception to the six-year rule applies to records related to the acquisition and disposal of property, the share register of a corporation and other historical information that would have an impact on the sale, liquidation or wind-up of an organization.
These records must be maintained indefinitely. Official donation receipts must be kept for two years from the end of the calendar year that the donation was made while official receipts for year gifts must be retained as long as the charity is registered. The right accounting software package can provide invaluable assistance in maintaining the appropriate records for the appropriate period of time. There are a variety of packages available to suit a range of needs such as issuing official donation receipts and managing donor databases and budgets.
Maintaining accurate, complete and timely financial books and records is not only important for government requirements, it is also essential for the effective operation of a nonprofit or charity. These records, for example, enable the members of the board of directors to discharge their responsibilities related to ensuring proper donation receipting, monitoring expenditures and forwarding government remittances such as GST, employer health tax and withholding taxes.
Thus every nonprofit should include rules within its constitution or bylaws describing how all records are to be retained and stored. By establishing a reliable recordkeeping system for your nonprofit or charity, you can be assured that you are providing your board of directors with a trustworthy foundation for decision making — and reassurance that your organization is on the right side of the Canada Revenue Agency.
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