Unemployment insurance cost facts every Vermont nonprofit should know!

June 14, 2016

Unemployment insurance cost facts every Vermont nonprofit should know!

Vermont picWhat do state unemployment taxes (SUTA), state unemployment reserve balances and claim overpayment rates mean to your nonprofit?

These factors could mean less money for your nonprofit organization’s cause.

145% 2009-2015 Increased Tax Cost

Factors used in calculating employer unemployment rates have increased; therefore increasing the average unemployment tax cost per employee from $262 in 2009 to $643 by 2015.

$11.7 Million Unemployment Claim Overpayments

Vermont’s April 2014-March 2015 unemployment claim overpayment rate was 15.045%, equaling over $11.7 million.

$16,800 2016 Wage Base

Vermont’s unemployment wage base increased from $16,400 in 2015 to $16,800 in 2016; therefore increasing the wages on which employers pay SUTA on.

There are options to financing your nonprofit organization’s unemployment costs

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Below is a sample savings analysis of one of our members since 2011.

Vermont graph pic

First Nonprofit Group provides state compliant individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. We provide more than 1,800 organizations around the country with unemployment insurance at affordable rates. Click here or call 1/(800) 526-4352 to request a free, no-obligation cost saving evaluation. Evaluations include a 2017 rate projection!

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Get in touch today to request a no-obligation savings evaluation.

Testimonials

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.

WI Council of Religious & Independent Schools (WCRIS), Madison, WI

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.

Community Care Inc., Milwaukee, WI

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.

Gulfside Healthcare Services, New Port Richey, FL

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!

Advancing Academics, Turtle Creek, PA

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.

Chicago Children’s Theatre, Chicago, IL

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.

Daniel Kids, Jacksonville, FL

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.

Homes of Hope, Chicago, IL

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!

Women's Choice Network, Pittsburgh, PA