April 23, 2014
Insurance agents who want to help their nonprofit clients save money and protect them financially from increasing unemployment insurance costs can assist these organizations in opting out of state unemployment insurance (UI) tax pools. 501c3 nonprofit organizations and governmental agencies have the option to self-insure and not pay via the tax method that all for-profit companies follow. This self-insurance designation, called reimbursing, allows nonprofits to avoid the volatility and price increases associated with state UI tax pools.
First Nonprofit Group provides alternative funding and risk management programs for nonprofits that maximize the savings of being a reimbursing employer while also mitigating the risk and difficulty of self-insuring. Organizations across the country have saved as much as 40 percent on their annual UI costs with savings programs from First Nonprofit Group.
Their cost-saving solutions are available to organizations with at least 10 employees and located in all 50 states. Any governmental employers and all 501(c)(3) organizations are eligible. First Nonprofit Group currently has more than 1,600 organizations in its various programs, covering more than 300,000 employees.
All nonprofits benefit from alternative measures for UI funding
Regardless of the size or mission of a nonprofit, opting out of state UI pools provides a significant reduction in UI costs. First Nonprofit Group has offered savings to a wide variety of organizations across the country. Below are a few examples of members in First Nonprofit Group's programs and their savings.
Nonprofit organizations change over time, as do their needs, that's why there are four options that insurance agents can help nonprofit clients choose from: a Bonded Service Program, an Unemployment Savings Program, Excess Loss Insurance and Surety Bonds. Unlike the State Unemployment Tax Fund, agents are eligible to receive commission for products.
For information on how your nonprofit clients can cost-effectively meet their unemployment insurance needs, contact First Nonprofit Group at FNCUI@firstnonprofit.com or visit www.firstnonprofitgroup.com.
In addition to their money-saving purpose on behalf of nonprofit organizations like AHS, First Nonprofit’s Nonprofit Unemployment Fund
streamlines the information we need to efficiently manage unemployment claims. Our relationship with NU Fund gave us access to such things as advice on planning for what’s ahead and how to analyze cost scenarios when unexpected events occurred. Both experiences were very helpful.
The Ensight Skills Center has enjoyed working with First Nonprofit for several years. We are enrolled in their Unemployment Savings Program and although we have not required a lot of intervention, there have been a few times. I know others have dealt with the same problem of unemployment fraud over the last year and in our case, a call to First Nonprofit (they actually answer their phones) cleared up the issue. They also sent us a letter to send to all our employees telling them what they needed to do to prevent this in the future and protect themselves. What a relief! Over the years if I have questions or concerns, they are happy to listen, advise and help if they can. Another BIG advantage of using First Nonprofit is that all the money that is paid into the Unemployment Savings Program lives on my balance sheet as an asset. The money continues to be Ensight’s not the governments. First Nonprofit has certainly given me peace of mind.
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.
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.
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. We
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.