Data Retention Policy
Updated February 21, 2023.
Purpose
Monetizr seeks to ensure that it retains only data necessary to conduct its business activities and fulfill its mission effectively.
The need to retain data varies widely with the type of data and the purpose for which it was collected. Monetizr strives to ensure that data is only retained for the period necessary to fulfill the purpose for which it was collected and is fully deleted when no longer required. This policy sets forth Monetizr’s guidelines on data retention and is to be consistently applied throughout the organization.
Scope
This policy covers all data collected by Monetizr and stored on Monetizr-owned or leased systems and media, regardless of location. It applies to both data collected and held electronically (including photographs, video, and audio recordings) and data that is collected and held as hard copy or paper files. The need to retain certain information may be mandated by federal or local law, federal regulations and legitimate business purposes, as well as the EU General Data Protection Regulation (GDPR).
Reasons for data retention
Monetizr retains only the data that is necessary to effectively conduct its program activities, fulfill its mission and comply with applicable laws and regulations.
Reasons for data retention include:
• Providing an ongoing service to the data subject (e.g. sending a newsletter, publication or ongoing program updates to an individual, ongoing training or participation in Monetizr’s programs, processing of employee payroll and other benefits)
• Compliance with applicable laws and regulations associated with reporting by Monetizr to its customers and investors
• Compliance with applicable labor, tax, and immigration laws
• Other regulatory requirements
• Security incident or other investigation
• Intellectual property preservation
• Litigation
Data duplication
Monetizr seeks to avoid duplication in data storage whenever possible, though there may be instances in which it is necessary for data to be held in more than one place. This policy applies to all data in Monetizr’s possession, including duplicate copies of data.
Retention requirements
Monetizr has set the following guidelines for retaining all personal data as defined in the company's data privacy policy.
• Website visitor data will be retained as long as necessary to provide the service requested/initiated through the Monetizr website;
• Event participant data will be retained for the period of the event, including any follow up activities, such as the distribution of reports, plus a period of [Duration];
• Data of clients, subcontractors, and vendors will be kept for the duration of the contract or agreement.
• Employee data will be held for the duration of employment and then 5 years after the last day of employment.
• Data associated with employee wages, leave and pension shall be held for the period of employment plus 5 years.
• Board member data will be held for the duration of service on the Board plus for 5 years after the end of the member’s term.
• Data associated with tax payments (including payroll, corporate, and VAT) will be held for 5 years.
Data destruction
Data destruction ensures that Monetizr manages the data it controls and processes it efficiently and responsibly. When the retention period for the data as outlined above expires, Monetizr will actively destroy the data covered by this policy. However, suppose an individual believes that there exists a legitimate business reason why specific data should not be destroyed at the end of a retention period. In that case, he or she should identify this data to his/her supervisor and provide information as to why the data should not be destroyed. Any exceptions to this data retention policy must be approved by Monetizr’s data protection offer in consultation with legal counsel. In rare circumstances, a litigation hold may be issued by legal counsel prohibiting the destruction of certain documents. A litigation hold remains in effect until released by legal counsel and prohibits the destruction of data subject to the hold.
