First Nonprofit Group – Unemployment Savings Program – Florida Nonprofits Saved Over $2 Million!

 

"In partnership with FLorida Nonprofits, First Nonprofit Group has helped save nonprofits in Florida over $2 million."

Thinking outside the norm is uncomfortable, but in the long run it can have great benefits. Nowhere is this truer than when it comes to money management. While you probably put a lot of energy into finding new ways to raise money, you may be overlooking out-of-the-box options for saving money. One such option is to leave your state unemployment system and enroll into one of First Nonprofit’s unemployment programs. Doing so could save you thousands of dollars a year.

Is It Legal? Not only is this option legal, it is available only to nonprofit organizations, government and tribal entities. The Internal Revenue Code notes that “the states are required to provide nonprofit organizations, or groups of such organizations, with the option of reimbursing the state for unemployment compensation payments attributable to the service with the organization in lieu of paying contributions under the normal tax provisions of the state law.”(1) Simply put, nonprofit organizations can switch from contributing into the state tax system and become reimbursers for their own unemployment claims.

Is It Financially Viable? By reimbursing for your own claims, you’ll likely save between 30% and 40% of your current payments to the state system. With the state, you pay a fixed amount every year whether your unemployment claims reached that amount or not. So year after year, you’re overpaying into the state system. And the state NEVER refunds that money to you.

Is it Safe? Many nonprofits are hesitant to leave the state program due to the serious risks involved. For instance, in a year when a nonprofit loses funding and runs into unanticipated layoffs, the dollar amounts of filed claims could potentially devastate an organization. But there’s a safe alternative to paying state unemployment insurance taxes: You can join one of First Nonprofit’s unemployment programs that are safer than self-insurance and more affordable than state plans.

Already self-insuring this cost? First Nonprofit programs will minimize the risk associated with being a self-insured employer, provide a fixed annual cost and remove the uncertainty of your exposure. Additional benefits include:

  • A designated unemployment claims administration team to assist you with all claims, appeals and hearings
  • one year of Cyber Monitoring of up to 10 email address, bank account/routing numbers, credit/debit cards, and phone numbers
  • discounted background checks with no annual fees or minimum usage requirement, starting as low as $9.94

Are Nonprofits Using This Option? Nationally, nearly 2,000 nonprofit, governmental and tribal organizations rely on First Nonprofit Group to reduce, manage and safeguard their budget from uncertain unemployment insurance expenses.

How Can You Take Advantage of This Opportunity? Click here to see the application form.  Complete this application form to receive a free, no obligation savings analysis on your state’s unemployment costs.

Footnotes

1-IRC Section 3309 (a)(2).

 

This program is a Florida Nonprofits membership benefit.  Call Marina Pavlov 305.557.1764 to enroll.  Thank you to Cecilia Piazza, First Nonprofit Unemployment Savings Program, LLC.

 Unemployment Benefit - First Nonprofit Group

Comments are closed.