1. Purpose
The purpose of this policy is to establish guidelines for the retention and destruction of Shaome Cooperative, Inc. (“Shaome”) records to ensure compliance with legal requirements, support effective operations, and promote transparency and accountability.
2. Scope
This policy applies to all records created or received by Shaome, including:
- Board members
- Employees
- Independent contractors (1099)
- Volunteers
Records may exist in physical or electronic form.
3. Policy Statement
Shaome maintains records for the period necessary to comply with legal, financial, and operational requirements. After the retention period has expired, records will be securely destroyed in a manner that protects confidentiality.
No records may be destroyed if they are relevant to any ongoing or anticipated investigation, audit, or legal matter.
4. Suspension of Destruction (“Litigation Hold”)
If Shaome becomes aware of a legal claim, audit, or investigation:
- All destruction of relevant documents must cease immediately
- The President/CEO or Board will issue a litigation hold notice
- Records must be preserved until the matter is resolved
Shaome Cooperative encourages the reporting of any concerns related to the improper handling, retention, alteration, or destruction of organizational records. Individuals may report such concerns in good faith by contacting leadership or by submitting a confidential report to ethics@shaome.com. Reports will be reviewed promptly and handled in accordance with Shaome’s Whistleblower Policy, including protections against retaliation.
5. Record Retention Schedule
| Record Type | Retention Period |
|---|---|
| Articles of Incorporation, Bylaws, IRS Determination Letter | Permanent |
| Board meeting minutes and resolutions | Permanent |
| Policies and governance documents | Permanent |
| Tax returns (Form 990) and supporting documents | 7 years |
| Financial statements, audits, general ledgers | 7 years |
| Bank statements, canceled checks | 7 years |
| Payroll records and employment tax records | 7 years |
| Contracts and agreements (after expiration) | 7 years |
| Grant applications and reports | 7 years |
| Donor records and contribution documentation | 7 years |
| Insurance policies (expired) | 7 years |
| Program records and participant data | 5 years |
| Volunteer records | 5 years |
| Electronic communications (general) | 3 years |
| Routine correspondence | 3 years |
| Marketing materials and publications | 3 years |
6. Storage and Security
- Records will be stored in a secure, organized manner
- Sensitive documents will be protected with appropriate safeguards (passwords, restricted access, locked storage)
- Digital records should be backed up regularly
7. Destruction of Records
When records reach the end of their retention period, they will be destroyed in a secure manner:
- Paper records: shredded or destroyed
- Electronic records: permanently deleted
Destruction should be documented when appropriate.
8. Responsibility
- The President/CEO is responsible for implementing and enforcing this policy
- The Board of Directors provides oversight
- All staff, contractors, and volunteers are responsible for compliance
9. Policy Review
This policy will be reviewed periodically and updated as needed to ensure compliance with applicable laws and organizational needs.
10. Board Adoption
This Document Retention and Destruction Policy was adopted by the Board of Directors of Shaome Cooperative, Inc. on: May 3, 2026.
If you have any questions or suggestions about our Document Retention & Destruction Policy, do not hesitate to contact us at ethics@shaome.com.