April 14, 2014
Nonprofits will have a great opportunity to learn about saving money on their state unemployment insurance (SUI). Best of all, the information will be given free of charge and can be accessed from the comfort of any office. First Nonprofit Group and the the N.C. Center for Nonprofits are jointly sponsoring an educational event on how organizations in North Carolina can save on their state UI costs.
First Nonprofit has 30 years of experience helping 501(c)(3) and governmental organizations save money by becoming reimbursing employers. As a reimbursing employer, nonprofits owe state unemployment agencies only the amount that is actually paid out to former employees following UI claims. Opting out of state tax pools allows nonprofits to avoid the variable costs, overpayments and socialized costs that are built into SUI programs.
SUI costs have been increasing throughout the country since the Great Recession and the cost per employee in North Carolina has increased $146 – 42 percent – since 2010. The webinar will provide valuable, state-specific information for North Carolina nonprofits that are considering opting out of state tax pools, including information on the changes to unemployment benefits and tax rates. All attendees will receive a copy of First Nonprofit Group's "Fundraising: A partnership between Board and Staff," booklet at no cost.
First Nonprofit Group can help North Carolina organizations save money with minimal risk
While the majority of nonprofits can save substantially on their UI costs by electing to become reimbursing employers, the election does come with some risks. Simply becoming a reimbursing employer does not provide any protection against sudden unemployment claims filed against an employer. Without the backing of a SUI trust fund to cover the costs, a nonprofit can be forced to cut programs to pay these claims, putting the organization at risk for even greater unemployment.
First Nonprofit Group offers organizations membership in different UI programs that allow them the cost saving benefits of becoming a reimbursing employer with much less risk. The free webinar will be held on May 1 from 11 a.m. – noon EST. To register, nonprofits can complete the following form and fax it to (312) 239 – 6368. For more information, call (800) 526-4532, ext. 398398. First Nonprofit Group Program members in North Carolina have already saved a total of more than $5.9 million since 2004.
Content presented by First Nonprofit Group, the leading provider of state unemployment insurance solutions for 501(c)(3) nonprofit employers.
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We’ve been a member of First Nonprofit’s Unemployment Savings Program since 2011 and highly recommend joining. The program is terrific and allows us to earn interest on our own funds while still meeting the state’s requirements on unemployment payments. In addition, the staff are great and always helpful sorting out any questions we may have. Thank you all!
CCSCT was approached by First NonProfit to discuss its Unemployment Savings Program and ways the program could significantly reduce the amount of unemployment taxes we were paying. At the time, our agency was paying approximately $80,000 per year. First NonProfit conducted an analysis to determine if making the switch would be in our best interest, and it clearly was based on our circumstances. The first year on the program, CCSCT saw a 70% reduction in its unemployment costs and each year, continues to experience further reductions as a result of having minimal claims. Some additional benefits of the program including having a fixed annual cost, an interest-baring reserve account, professional unemployment claims management and representation at all unemployment hearings. This has been one of the best decisions we have made.
We first started using First Nonprofit’s Unemployment Savings Program when we were a small startup nonprofit. We didn’t have an HR department and needed expertise in the event that an unemployment claim was made. We knew we were eligible to be a reimbursing employer, but weren’t sure how to navigate that process. They made it easy to set things up, plan for, and then manage claims when they came at a very reasonable cost. The amount of time and stress they’ve saved us dealing with all this has been worth way more than the cost. We’ve now grown to a large nonprofit and do have an HR department but have no plans to stop using their services. I highly recommend them to every nonprofit I come into contact with!
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.
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.
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.
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.
Visually Impaired Preschool Services has been a client of First Non-Profit since it was first offered as a benefit of VisionServe Alliance. We completed a thorough evaluation of cash savings to our agency before taking advantage of this wonderful benefit and it has been a very wise decision. Our experience with the processes from accounting to claims have been professional, expeditious and easy.