Does any part of the Sarbanes-Oxley Act apply to nonprofits?
Response: Two parts of the law are mandatory for nonprofits and foundations: • Nonprofits must develop, adopt, and disclose a policy enabling employees who suspect illegal or inappropriate activities in their organizations to report problems confidentially; • Nonprofits must have a written, mandatory policy on document retention and periodic destruction, including electronic files and voice mail messages. Note: A sample whistleblower policy and set of recommended document retention guidelines are available to members by contacting Mainstream, Inc.
