Unemployment insurance cost facts every Illinois nonprofit should know!

December 13, 2016

Unemployment insurance cost facts every Illinois nonprofit should know!

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What do state unemployment taxes (SUTA), state unemployment reserve balances and claim overpayment rates mean to your nonprofit?

These factors could mean less money for your nonprofit organization’s cause.

54% 2009-2015 Increased Tax Cost

From 2009 to 2012, the Illinois Department of Employment Security borrowed money from the Federal Unemployment Account in order to pay the excess unemployment claims the state trust fund could not cover. In order to replenish the fund, factors used in calculating unemployment rates were increased, therefore increasing the average unemployment tax cost per employee from $300 in 2009 to $463 by 2015.

$227 Million Unemployment Claim Overpayments

The Illinois July 1, 2014 – June 30, 2015 unemployment claim overpayment rate was 13.585%, equaling over $227 million.

However, there are options to financing your nonprofit organization’s state unemployment costs…

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA (State Unemployment Insurance Tax) requirements for nonprofit and governmental entities. Below is a sample savings analysis of one of our Illinois members since 2009.

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Visit our website or call (800) 526-4352 to request a free, no-obligation cost savings evaluation on your organization’s unemployment costs. Evaluations include a 2017 rate projection!

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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

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.

 

Thresholds, Chicago, 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