Unemployment Insurance for Washington, D.C. 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: 35%
In the aftermath of the Great Recession, employers in Washington, D.C. were faced with higher-than-normal unemployment compensation costs in order to rebuild the state’s trust fund. The average unemployment tax cost per employee increased by 35% (from 2009 to 2014).
IMPROPER PAYMENT RATE: 19.856%
Washington, D.C.’s Department of Employment Services had a 19.856% average improper payment rate from 2011 to 2014. Over $23 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 2005.
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.