Overview

SCORE Chapters are required to retain and dispose of certain records in accordance with SCORE’s Record Retention Policy (linked below). SCORE Chapters are accountable only for the documents listed in the schedule below. The Chapter Chairs are responsible for adhering to the policy, but they may delegate their authority to another responsible SCORE volunteer such as a chapter treasurer.

The records that chapters are required to keep may be physical or digital. Physical documents are hard-copy or printed documents, and digital documents are those only accessible on a computer or other digital device.

How to Store Documents

Physical records must be kept so that they are only accessible to the Chapter Chair and/or their delegated authorized representative. Security Redundancy is encouraged.

Some examples of acceptable physical document storage are:

Documents held in a locked filing cabinet within a locked/lockable SCORE office.
Documents held in a locked storage facility.

Some examples of unacceptable physical document storage are:

Documents left open in a public office.
Documents held at a personal residence in an unlocked cabinet.

Digital Documents must be stored on SCORE approved cloud-based drives that are password protected.

Some examples of acceptable digital document storage are:

SVO Google Drive

Some examples of unacceptable digital document storage are:

Personal Computer desktop
Personal email/server

Disposition/Destruction

Physical documents must be shredded and recycled.

Digital Documents must be permanently deleted, including any copies that may exist.

Chapter Retention Schedule

Category/Item	Retention Period	Owner	Instructions as of 09/30/2023
Chapter Records (Current)
Audit Reports	Permanent	Chapter Chair	Retain in accordance with Retention Period
Deposit Slips	2 Years	Chapter Chair	Retain in accordance with Retention Period
Expired Contracts	7 Years	Chapter Chair	Retain in accordance with Retention Period
General Correspondence (Including Email)	2 Years	Chapter Chair	Retain in accordance with Retention Period
Insurance Policies (Expired)	3 Years	Chapter Chair	Retain in accordance with Retention Period
Insurance claims	Permanent	Chapter Chair	Retain in accordance with Retention Period
Legal Papers	Permanent	Chapter Chair	Retain in accordance with Retention Period
Minutes of Chapter & Executive Committee Meetings	2 Years	Chapter Chair	Retain in accordance with Retention Period
Chapter Records (Historic – No longer collected at chapter level)
Bank Reconciliations	3 Years	Chapter Chair	Destroy All
Bank Statements	3 Years	Chapter Chair	Destroy All
Cancelled Checks	7 Years	Chapter Chair	Destroy any over 7 years old
Financial Statements (Year-End)	Permanent	Chapter Chair	Keep All
Form 3s (Chapter Annual Reports)	Permanent	Chapter Chair	Keep All
General Ledger & Trial Balance (Year-End	Permanent	Chapter Chair	Keep All
Invoices Accounts Payable & Accounts Receivable	7 Years	Chapter Chair	Destroy any over 7 years old
Personnel Files of Terminated or Retired Members	7 Years	Chapter Chair	Destroy any over 7 years from date of termination
SBA 641 Forms	4 Years	Chapter Chair	Destroy any over 4 years old

Full SCORE Record Retention Policy