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Unemployment Savings Programs


A Limited Liability Corporation

The Unemployment Savings Program is the only one of its kind and has been for over 20 years. It provides a fixed annual budget and your organization’s very own interest-bearing, proprietary reserve account, all while allowing you to save thousands of dollars when compared to paying the State Unemployment Insurance (SUI) tax. More importantly, your cost and coverage is entirely unaffected by other members.

How does it work?

  • The Unemployment Savings Program is specifically designed for your organization.
    Annual fees are based exclusively on your unemployment experience and employment profile. There are no shared risks or expenses.
  • Improve cash flow by making equal, fixed quarterly payments to your reserve account.
    While most SUI tax payments are made during the first and second quarters of the calendar year, our program members make four equal quarterly payments.
  • Build a reserve account your organization actually owns.
    Unlike the taxes paid into your SUI tax account with the state, this interest-bearing reserve account is yours and will be returned to you if you should ever decide to withdraw from the program. Your account balance can be considered an asset and recognized as such in your organization’s financial records.
  • Your organization is protected against high unemployment years with stop-loss insurance that caps your financial liability.
    If you lose funding and need to restructure your organization or reduce staff, our stop-loss insurance limits your liability.
  • Professional unemployment claims administration and cost control is included.
    Receive services from unemployment insurance professionals familiar with your state’s laws and statutory requirements to assist you with claims validation, representation at all unemployment appeal hearings, audit of benefit charges, and more.

Why choose First Nonprofit?

With our unique solutions, programs are tailored specifically to you. There are no pooled losses or shared expenses; stop-loss insurance limits are calculated for each member based on their size and experience; an individual organization’s coverage limits are not impacted by any other member’s negative claim experience.

We offer true insurance coverage, not group reserves or joint and several liability exposure. Every dollar paid into your reserve account pays for claims charged only by your former employees. In addition, we have access to claims administrators across the country, allowing you to access service that fits your organization’s needs.

Ready to chat? Get in touch today to request a no-obligation savings evaluation.

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