October 8, 2015
With Fall arriving and the holiday season around the corner, it’s about that time to review state unemployment insurance options. Recently, many employer’s state unemployment tax cost have increased by as much as 51% and continue to grow due to factors such as improper payments made by the state, increasing benefit awards, and confusion about claimant eligibility by employers.
Nonprofits, governmental entities and Tribal enterprise communities have the choice to opt out of paying the SUTA (State Unemployment Tax Administration) tax and instead, reimburse for state unemployment benefits paid to ex-employees. The reimbursement financing option allows nonprofit employers to:
– Avoid annually varying tax rates which funds the statewide unemployment reserve
– Reduce total annual overall cost of unemployment.
– Circumvent having to pay the pooled risk costs built into each state’s unemployment program
Selecting the reimbursement financing method is typically less costly for nonprofits. However, it comes with potential risks such as an unexpected loss of funding, sudden exposure to other unforeseen risks, or a downturn in the local or national economy. At First Nonprofit, we have programs tailored with total or partially insured solutions that help nonprofits take advantage of savings while minimizing any potential risk that may arise. The qualifying employer deadline to enroll in reimbursement financing for many states is November 30, while for others it’s December 1st.
First Nonprofit Group provides more than 1,700 nonprofits around the country with unemployment insurance options at affordable rates. To find out how much money can be saved, contact us for an unemployment cost savings evaluation. Evaluations are free, there is no obligation to engage and an estimate of a better 2016 unemployment option is included!
Content presented by First Nonprofit Group, the leading provider of state unemployment insurance solutions for 501(c)(3) nonprofit employers
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!