January 31, 2014
The Nonprofit Alliance of Monterey County is set to conduct a study on the quality of life impact that nonprofits have on the local community, according to The Californian. The study was previously conducted in 2005 and found local-area nonprofits employ thousands of people, provide services to 3 million and have an economic impact of $1.5 billion each year.
The 2005 study, "For the Common Good: The Economic Impact of Monterey County's Nonprofit industry," will be expanded upon to include the impact organizations have on local political, social, technological, legal and environmental issues. The economic impact will be also be examined again.
However, leaders are expanding the study in part to show that economic impact is only one factor in how nonprofits affect their local communities. In addition, leaders also believe it's important to examine how local organizations were so successful and resourceful during the hardships of the Great Recession.
"It's been almost 10 years. We need to get an idea of the size, scope and structure of nonprofits. They are big business here. We have a big impact here," Larry Imwalle, executive director of the ACTION Council of Monterey County, told the newspaper.
Nonprofits have proven they can create successful business models
The recent recession was a testament to the resiliency of nonprofits across the country. Many organizations found themselves with a greater need for their services, but less funding from both governmental grants and private donors. For many, this meant they either had to get creative or close their doors.
One way that nonprofits can reduce costs is by opting out of state unemployment insurance pools. Unemployment funding was hit hard during the recession and the resources needed to boost fund balances is raising the cost to many employers. Nonprofits that opt out and become self-reimbursing employers can avoid many of these costs.
However, electing to fulfill their obligation to SUI on their own comes with risks. Before undertaking the procedure, nonprofits should consult with professionals to determine the best method for alternative funding and an estimate of how much they can save. For nonprofits that are still trying to repair their own budgets following the recession, opting out of SUI pools is a good way to reduce budget expenditures.
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.
We first started using First Nonprofit’s Unemployment Savings Program when we were a small startup nonprofit. We didn’t have an HR department and needed expertise in the event that an unemployment claim was made. We knew we were eligible to be a reimbursing employer, but weren’t sure how to navigate that process. They made it easy to set things up, plan for, and then manage claims when they came at a very reasonable cost. The amount of time and stress they’ve saved us dealing with all this has been worth way more than the cost. We’ve now grown to a large nonprofit and do have an HR department but have no plans to stop using their services. I highly recommend them to every nonprofit I come into contact with!
Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.
Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.
It has been our sincere pleasure to maintain a strong, vibrant business partnership with First Nonprofit. We greatly admire their strong industry knowledge, technical expertise, constant professionalism, knowledgeable and dedicated staff. They are always extremely responsive, personable and provide us with the necessary guidance and recommendations on a numerous variety of employment scenarios.
NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.
Visually Impaired Preschool Services has been a client of First Non-Profit since it was first offered as a benefit of VisionServe Alliance. We completed a thorough evaluation of cash savings to our agency before taking advantage of this wonderful benefit and it has been a very wise decision. Our experience with the processes from accounting to claims have been professional, expeditious and easy.
Luckily for us, our interactions regarding any issues with staffing has been very minimal! I can say that all other interactions with regards to billing, 941 reporting, etc. have been extremely pleasant, accommodating and easy to work with. Kim Ghanayem is always prompt, professional and friendly. Thank you so much!
First Nonprofit has been easy to work with and makes the administrative process easier and smoother. We enjoy working with you.