January 31, 2014
The Nonprofit Alliance of Monterey County is set to conduct a study on the quality of life impact that nonprofits have on the local community, according to The Californian. The study was previously conducted in 2005 and found local-area nonprofits employ thousands of people, provide services to 3 million and have an economic impact of $1.5 billion each year.
The 2005 study, "For the Common Good: The Economic Impact of Monterey County's Nonprofit industry," will be expanded upon to include the impact organizations have on local political, social, technological, legal and environmental issues. The economic impact will be also be examined again.
However, leaders are expanding the study in part to show that economic impact is only one factor in how nonprofits affect their local communities. In addition, leaders also believe it's important to examine how local organizations were so successful and resourceful during the hardships of the Great Recession.
"It's been almost 10 years. We need to get an idea of the size, scope and structure of nonprofits. They are big business here. We have a big impact here," Larry Imwalle, executive director of the ACTION Council of Monterey County, told the newspaper.
Nonprofits have proven they can create successful business models
The recent recession was a testament to the resiliency of nonprofits across the country. Many organizations found themselves with a greater need for their services, but less funding from both governmental grants and private donors. For many, this meant they either had to get creative or close their doors.
One way that nonprofits can reduce costs is by opting out of state unemployment insurance pools. Unemployment funding was hit hard during the recession and the resources needed to boost fund balances is raising the cost to many employers. Nonprofits that opt out and become self-reimbursing employers can avoid many of these costs.
However, electing to fulfill their obligation to SUI on their own comes with risks. Before undertaking the procedure, nonprofits should consult with professionals to determine the best method for alternative funding and an estimate of how much they can save. For nonprofits that are still trying to repair their own budgets following the recession, opting out of SUI pools is a good way to reduce budget expenditures.
For information on how your organization can cost-effectively meet its unemployment insurance needs, contact First Nonprofit Companies at FNCUI@firstnonprofit.com or visit www.firstnonprofitcompanies.com.
Working with Marshal Whittey at First Nonprofit has been a great experience. He handles our request as a priority and goes above and beyond to resolve any issues we have in a timely manner. Marshall follows through to the end and ensures our needs are met. He has been a great resource for LSC and our “go to” for any tax questions we may have. With LSC transitioning several facilities into one federal tax identification number, First Nonprofit was able to assist and provide guidance with best practices resolving claims to each entity. Additionally First Nonprofit provided knowledge (information materials) and one on one training to HRS group with best practices to handle claims state adjudicated, fraudulent claims, and appeals. And processing information in the First Nonprofit [unemployment claims] system allows for timely information can be collected.
My experience with FNP has been wonderful. Unemployment in general is quite confusing and FNP has simplified the process for us. Everyone we have reached out to or worked with has been very helpful and follows up to be sure we understand the information. I am so happy we made the switch to FNP!
First Nonprofit smoothed the unemployment perils for our organization during Covid. Without the ability to cap our UI exposure, we would not have been able to weather the storm. The program worked perfectly and we have come out of the pandemic ready to forge on. Thanks FNP!
My experience with the FNP has been fantastic. The idea of setting funds aside for the unemployment tax liability is a bedrock for nonprofit organizations like mine, namely ASHBA; what is even more advantageous is having the FNP as a custodian of those funds. 100% recommended!
I would like to comment on my experience with FNP….to date our District has saved $1,000’s of dollars by being enrolled in the First Nonprofit program. My only regret is that we did not know about this method of paying unemployment tax years ago….as I had figured about five years
ago, had we enrolled 15-20 years ago, we could have saved our small school district upwards of $500,000 in payments to IDES. Also we would have had a pretty hefty sum of money in our Reserve Account. Thankfully I attended a workshop hosted by First Nonprofit back in 2015 which got the ball rolling!
I have worked with the First Non-Profit Team for many years, and I appreciate the quick response and care that Cecilia and the team provides anytime I have questions. While there are other providers that may provide like services, First Nonprofit will always be my first choice! I appreciate you!
First Nonprofit has been easy to work with and makes the administrative process easier and smoother. We enjoy working with you.
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!