Unemployment Insurance for Colorado Nonprofits: There is a safe, cost-effective alternative out there

April 30, 2015

Unemployment Insurance for Colorado Nonprofits: There is a safe, cost-effective alternative out there

What do high unemployment rates, increased taxes and negative State Trust Fund Balances mean to your nonprofit? All these statistics mean less money for your cause.

INCREASED TAX COST: 91%

From 2010 to 2012, the Colorado Department of Labor and Employment 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 trust fund, factors used in calculating unemployment rates were increased, therefore increasing the average unemployment tax cost per employee by 91% (from 2009 to 2014).

IMPROPER PAYMENT RATE OF 12.091%

The Colorado Department of Labor and Employment had a 12.091% average improper payment rate from 2011 to 2014. Over $67 million improper payments were made in 2014 alone.

First Nonprofit Group provides more than 1,700 nonprofits around the country with unemployment insurance at affordable rates. Below is a sample savings analysis of one member since 2010.

 

To find out how much money your organization can save, contact us for an unemployment cost savings evaluation. Evaluations are free, there is no obligation to join, and an estimate of your 2016 unemployment rate is included!
For a PDF version of this fact sheet, please click here.

 

 

 

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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