A tornado slides across Oklahoma. Image courtesy NSSL/NOAA. Continued vigilance and quick response to tornado watches and warnings are critical, since tornadoes can strike virtually anywhere at any time. Most tornadoes are abrupt at onset, short-lived and often obscured by rain or darkness.
Most nonprofits and charities must keep books and records for a minimum of six years from the end of the last tax year to which they relate. This retention period will be extended if returns are late-filed or if there is a notice of objection or appeal underway.
Exemption Workshop - Chapter 7 - Record Keeping. Prioritize Recordkeeping. Basically, an organization has to keep records and books to prove that it agrees with tax rules. An organization should record all the sources of receipts and expenditures that are stated on Form 990, Return of Organization Exempt from Income Tax.