February 25, 2015
First Nonprofit Foundation is a private grant-making organization that focuses on bolstering the nonprofit sector in the United States. It originally started as an extension of the First Nonprofit Insurance Company to use funds from substantial investment returns for philanthropy. The Foundation was established with an initial contribution of about $3 million in 2003.
In December 2013, First Nonprofit Insurance Company and AmTrust Financial Group negotiated a merger agreement that resulted in a larger foundation with about $9.4 million in assets. The foundation was created to protect the social covenants of policy holders. Our mission is to disseminate about $800,000 annually in philanthropy to worthy recipients and causes over each of the next 8 years.
Our initial focus was solely on sponsorships and educational causes that helped the nonprofit community. We have since revamped our activity to become a grant making foundation. Between June 2013 and December 2014, we distributed $1,250,000 to 27 different organizations.
For more information about the foundation, visit our website, www.firstnonprofit.org, where you can learn about the philosophy, activities and process used by the foundation. Or, you can contact Joe Geiger, President and Chief Executive Officer at Jgeiger@firstnonprofit.org.
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.
We were introduced to First Nonprofit through another housing authority. In our analysis and comparison to what we were paying the State, our first year savings was $5,800 plus. We have been with them since the end of 2008 and I am glad we have been. I consider them an arm of our HR department.
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.
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.