August 25, 2015
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.
Wyoming’s unemployment rate went from an average unemployment rate of 2.8% in 2008 to an average of 7.0% in 2010. In order cover the increase in unemployment claims and replenish the shrinking trust fund, factors used in calculating employer unemployment rates were increased, therefore increasing the average unemployment tax cost per employee by 155% (from 2009 to 2014).
The Department of Workforce Services had a 8.648% average improper payment rate from 2011 to 2014. Over $6.5 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 more information contact:
P: (503) 403-3014
C: (503) 858-5622
For a PDF version of this fact sheet, please click here: Wyoming Fact Sheet 2015
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.
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.
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.