How long should a foundation keep grantee reports?
Posted on February 19, 2016 by Andras Kosaras, James P. Joseph
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Are there legal requirements, IRS or other, for foundations regarding receiving and retaining paperwork from grantees that documents how grant dollars were spent? A good rule of thumb is to keep grant materials for seven years. We suggest four years at a minimum. The IRS audit statute of limitations is three years. So, it is important to keep grant materials… Read More