September 14, 2017
With Fall arriving and the holiday season around the corner, it’s about that time to review your state unemployment tax (SUTA) cost options. SUTA costs have increased for most states since 2009 — by as much as 345%! Nonprofits, governmental and tribal entities have the option to opt out of paying SUTA and instead, reimburse their state unemployment benefits paid to employees. The reimbursement financing option gives employers the opportunity to:
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[item]Avoid annually varying tax rates which create a statewide reserve against future unemployment risk[/item]
[item]Reduce the actual cost of benefits to dollar-for-dollar[/item]
[item]Avoid having to pay the pooled costs built into each state’s unemployment agency[/item]
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Choosing the reimbursement financing method is less costly for nonprofits however it comes with potential risks such as an unexpected loss of funding. At First Nonprofit, we have programs tailored to help nonprofits take advantage of savings while minimizing any potential risk that may arise. The deadline for many states to enroll in reimbursement financing is on November 30th, while for others it’s December 1st.
First Nonprofit Group provides nearly 2,000 nonprofits around the country with unemployment insurance at affordable rates. To find out how much money your organization can save, request an unemployment cost savings evaluation. Evaluations are free, there is no obligation to join, and an estimate of your 2018 unemployment rate is included!
Ready to chat? Get in touch today to request a no-obligation savings evaluation.
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.
Luckily for us, our interactions regarding any issues with staffing has been very minimal! I can say that all other interactions with regards to billing, 941 reporting, etc. have been extremely pleasant, accommodating and easy to work with. Kim Ghanayem is always prompt, professional and friendly. Thank you so much!
First Nonprofit has been easy to work with and makes the administrative process easier and smoother. We enjoy working with you.