January 28, 2014
As nonprofits look to improve their budgets in the coming year, they should consider enlisting the help of consultants – both pro bono and paid. While volunteers were once expected to perform the more mundane tasks at a nonprofit, such as handing out fliers or making phone calls for donations, times are changing. The aging baby boomer population is highly educated and many are looking for ways to give back in their retirement.
Reaching out to volunteers who can help with more big-picture duties, such as legal issues, can save nonprofits expenses on needed services. However, there are also some risks associated with giving volunteers too much responsibility. They will not have any obligation to stay with the organization, so make sure someone is available to take over the work if they suddenly leave. Regardless of how long they stay, their help may provide you the chance to gain some ground in other areas.
Paid experts can also save nonprofits money
Many organizations may be struggling with the more complex issues of fundraising, financial planning and tax obligations. While there are many consultants that can help businesses with back-office operations, nonprofits need people who know the terrain. For example, nonprofits have a rare opportunity to save on unemployment insurance costs.
While nonprofits must pay state unemployment insurance taxes, they can opt of tax pools that could be costing them more money than they need to pay. By opting out, organizations are responsible only for the actual amount that is paid out in unemployment claims. Organizations with no unemployment claims would actually have no cost.
Opting out of state unemployment insurance tax pools requires guidance
However, the option to leave SIU tax pools is not without risks and organizations that do so without consultation can expose their companies to unexpected liabilities. For this reason, it is in a nonprofit's best interest to enlist the help of professionals that can navigate the confusing rules regarding the decision to self-reimburse.
Companies such as First Nonprofit offer services that can help organizations select the funding plan for unemployment insurance. Membership in their savings program is often less risky than self-reimbursing, but only experts can determine the best way to meet UI responsibilities.
For information on how your organization can cost-effectively meet its unemployment insurance needs, contact First Nonprofit Companies at FNCUI@firstnonprofit.com or visit www.firstnonprofitcompanies.com.
Ready to chat? Get in touch today to request a no-obligation savings evaluation.
First Nonprofit has saved us so much money over the state’s program. We had one little glitch with the state recently and we contacted FNP immediately. FNP staff called us back immediately and moved to remedy the problem.
First Nonprofit has been a great partner. They have helped us saved hundreds of thousands of dollars! They have awesome resources for our nonprofit organization. Thanks for the partnership.
Life is certainly busy these days but having business partners like First Nonprofit has made some of the process hassle free. We have worked with this team for years. When we changed payroll systems, they outlined every step. I think this team is terrific and I know they get the job done! Thank you, Cruz, to all the team at FNP.
FNP has helped our agency to save thousands of dollars every year on our unemployment coverage. The service is phenomenal, and we are thankful to their team as our partner. My experience working with Marshall on the advocacy around UE for nonprofits was also a highlight as someone who teaches advocacy and lobbying for nonprofits. Really, your whole team is top shelf, so thank YOU!
Chicago Children’s Theatre has greatly benefited from our partnership with First Nonprofit, and I have always enjoyed working with the staff on our filings and any complicated questions. I would not hesitate to recommend First Nonprofit to fellow nonprofits. We’re very happy customers.
FNP is a great resource for Daniel Kids. To have a TPA that we can count on to take point on not only managing our unemployment claims, but to support and guide any protest hearing, is invaluable. All the professional support staff we have worked with have been excellent, very knowledgeable and responsive. We are grateful for the help and support, thank you.
When I first began in my position at my organization, I hadn’t had experience working with a company like FNP. The staff was so patient and helpful in helping to explain the benefits of First Nonprofit. Anytime I reach out with a question I receive a quick, clear, and thorough response. I’m so thankful that we decided to partner with FNP. Their excellence in customer service, coupled with their variety of packages frees us up to truly serve our staff and community with a peace of mind knowing that our organization is protected against unanticipated unemployment insurance expenses.
First Nonprofit gets an A+ in my book. You are so easy to work with & very knowledgeable! Whether it is my quarterly correspondence with Kim or my random interactions with Dawn about a bond … I am so pleased that I get to work with such a helpful company. Thank you!