May 2, 2016
What do state unemployment taxes (SUTA), state unemployment reserve balances and claims overpayment rates mean to your nonprofit?
These factors could mean less money for your nonprofit organization’s cause.
$584 Average SUTA Cost Per Employee
Factors used in calculating employer state unemployment tax rates have increased, therefore increasing the average state unemployment tax cost per employee by 27%, from $461 in 2009 to $584 by 2015.
Connecticut is experiencing a $266 million budget deficit and is facing a deficit of over $900 million for the 2016-2017 year. Social service providers have estimated that more than $400 million of the proposed cuts for next year are from human services and would lead to nearly 4,000 layoffs at nonprofits that run group homes and provide mental health and other services for the state government.
Connecticut’s April 2014 – March 2015 unemployment claim overpayment rate was 4.687%, equaling over $33 Million.
There are options to financing your nonprofit organization’s unemployment costs.
First Nonprofit Group provides more than 1,800 nonprofit organizations and governmental entities around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost savings evaluation. Evaluations include a 2017 rate projection!
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 are impressed with the accuracy of their employment decisions, integrity of their employees and efficiency of their claim handling. We greatly respect and value the consistent, impressive cost savings from the utilization of their outstanding services.
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.