Gift Forms - Do you keep them? How long?

Jenny Hamner

Currently, the organization I work for files and stores all gift forms and scans checks. I would like to move away from filing the gift forms and wondered if 1.) Is it necessary to keep a gift form if a check is mailed? 2.) If you do keep the gift form, how long do you have to keep it for. My last organization kept pledges for 7 years, but didn't have a hard policy the forms that accompanied a check. I specifically am trying to determine for those who may keep these, if it is for auditing purposes - (you have to) or if it is a company elected procedure. Thank you.

Lou Ann Gay

The only gift forms we have are for a large peer-to-peer fundraiser. We keep those for a year, just in case those team members have a question about donations.

Judy Milner

We keep all gift forms and copies of cheques for seven (7) years. For auditing purposes you are required to keep them for two (2) years. Hope that helps.

Lou Ann Gay

We keep check originals and also scan them. Maybe I don't understand what you mean by forms.

Judith Youngblood

Jenny, have you considered attaching the pdf or jpg of the form to the gift in eTap? If there is any account or sensitive information you can redact it before attaching. That way, it is not taking up space in a file cabinet or in your organization's server. It is also readily available should there be an issue in the future.


A story on that: Recently a client was in a lawsuit because a donor accused them of reneging on an agreement for a naming opportunity. The agreement was signed more than 10 years ago. Because we had attached a pdf of the paper files to their record, the organization was able to pull all the documentation for the attorneys. We have a similar story about heirs coming back and questioning a gift agreement years after the fact. Scans of the documents attached to the original gift came in very handy.


Judith Youngblood

WIST Data Solutions

www.wistdata.com

Prakash Thapaliya

We attach donation forms and scanned copy of cheques in database. Accounting keeps the hard copy of the forms and a photocopy of the cheque on file for XXX years for auditing purposes. Sorry I could not exactly remember how many years though.

Karen Tuecke

Hi Jenny,


At my organization we have automated so much too. I have to be honest, we make a photo copy/ digital copy of the check and gift form together. We discard/ shred the gift form after one year, but keep the printed photocopy for seven and the digital version forever. I know this sounds like a lot of paperwork/ copies/ digitizing, but this process protect me and my employees and the company. It provides accountability and the paper copies are kept with the deposit slip so we can go back and review if need be for any reason.


Does anyone else have a process?


Blessings,


Karen