Bonded Service Program Highlights

December 17, 2018

Bonded Service Program Highlights

The Bonded Service Program provides a fixed cost alternative based exclusively on an organization’s unemployment profile, thereby eliminating shared risk and expenses.

HOW IT WORKS

– 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)

IN GOOD COMPANY

– 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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Testimonials

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.

New York Council of Nonprofits, Albany, NY

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.

Kankakee County Housing Authority, Kankakee, IL

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.

Illinois Network of Charter Schools

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.

Hugh Parry, Retired President of Prevent Blindness America