December 17, 2018
The Bonded Service Program provides a fixed cost alternative based exclusively on an organization’s unemployment profile, thereby eliminating shared risk and expenses.
– Less costly funding alternative for nonprofits compared to the state unemployment insurance (SUI) tax and, unlike the standard reimbursing option, is risk free.
– First Nonprofit assumes the responsibility of reimbursing the state for an employer’s unemployment benefits.
– Complete fiscal security and stability
– Annual fee is based exclusively on the historic benefit costs, annual wages, and projected unemployment level of the individual employer.
– Fixed budgetary cost eliminates any uncertainty and fluctuation in benefit payments while providing for precise cost allocation to funding sources.
BENEFITS
– Professional unemployment claims administration is included at no additional charge to assist the employer in eliminating all unwarranted costs.
– Claims administration includes hearing representation, charge auditing, management reporting, and on-site education and training.
– Placement of state-mandated bond (when required)
– Insured by AmTrust Financial Services
– The program is endorsed and recognized by over 30 national and state nonprofit associations.
– The Bonded Service Program currently provides services to over 600 nonprofit entitles representing an excess of 300,000 employees.
– Member of the Association of Unemployment Tax Organizations and UWC Foundation.
Contact us at (312) 728 – 9963 to discuss how First Nonprofit can your organization save! Click here to request a free, no-obligation savings evaluation. Click here to download and print these highlights.
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We’ve been a member of First Nonprofit’s Unemployment Savings Program since 2011 and highly recommend joining. The program is terrific and allows us to earn interest on our own funds while still meeting the state’s requirements on unemployment payments. In addition, the staff are great and always helpful sorting out any questions we may have. Thank you all!
CCSCT was approached by First NonProfit to discuss its Unemployment Savings Program and ways the program could significantly reduce the amount of unemployment taxes we were paying. At the time, our agency was paying approximately $80,000 per year. First NonProfit conducted an analysis to determine if making the switch would be in our best interest, and it clearly was based on our circumstances. The first year on the program, CCSCT saw a 70% reduction in its unemployment costs and each year, continues to experience further reductions as a result of having minimal claims. Some additional benefits of the program including having a fixed annual cost, an interest-baring reserve account, professional unemployment claims management and representation at all unemployment hearings. This has been one of the best decisions we have made.
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.