August 20, 2014
On the heels of recent news that most areas of charitable giving are on the rise comes the finding that foundations are providing more grants to nonprofits. According to a study from the Council on Foundations, reported on by The Chronicle of Philanthropy, 56 percent of foundations increased their grant awards to charitable organizations in 2013. This is a significant increase over similar giving in 2012, when 47 percent of foundations had a rise in grants provided.
For any nonprofit group, getting a grant from a foundation is a big deal. Funds provided by a foundation grant usually come in a large block, as opposed to the many smaller donations gathered from individuals and businesses. Making the most out of a received grant means cutting down on unnecessary expenses and appropriately managing risks so that awarded funds can be directly applied to programs and vital operational budget components.
One area in which many nonprofits don't realize they can save money is how they fund their unemployment obligations. Instead of paying into the state unemployment tax (SUTA) fund, charitable groups can, instead, elect to become reimbursing employers. This approach allows for the compensation of jobless claims on a dollar-for-dollar basis, meaning nonprofits won't be liable for payment unless a claim is made – an impossible consequence when paying taxes into a SUTA fund. However, a spike in unemployment can put a serious strain on the reimbursing employer approach as well. First Nonprofit Group offers solutions that provide the best of both worlds, by covering a nonprofit's SUTA obligation with flexibility while increasing cost control by directly reimbursing for claims
For information on how your organization can cost-effectively meet its unemployment insurance needs, contact First Nonprofit Group at FNCUI@firstnonprofit.com or visit www.firstnonprofitgroup.com.
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!