Corporate Records for Nonprofit Corporations [1]
In addition to the two major "constitutional" documents (the articles of incorporation [2] and the bylaws [3]), nonprofit corporations are required to keep copies of a number of other records relating to the organization, finances, and ownership of the business.
State record-keeping requirements vary. You can find links to your state's specific record-keeping requirements in State Law: Forming a Nonprofit Corporation [4]. However, as a matter of best practice you should keep copies the following documents in the nonprofit corporation's principal office (where it is operating on a day-to-day basis) and on file with the nonprofit corporation's registered agent (this latter step is applicable only if the nonprofit corporation is incorporated in a state other than where it does business):
- the articles of incorporation and any amendments
- the nonprofit corporation's bylaws and any older versions used in the three most recent years
- minutes from board of directors meetings for the three most recent years
- records of all actions taken by directors without a meeting for the three most recent years
- a list of the full names and last known addresses of all past and present directors
- a list of the full names and last known addresses of all past and present officers
- financial records, including federal, state, and local tax returns and reports, for the three most recent years
- annual or biennial reports or statements of information filed with the state for the three most recent years
- any other documents filed with the state
These requirements are in addition to the tax obligations for all small businesses. For more information, see the Tax Obligations of Small Businesses [5] section and the IRS guide Publication 583 (1/2007), Starting a Business and Keeping Records [6].
Jurisdiction:
- United States [7]