Date/Time
Date(s) - 10/05/21
12:00 pm - 1:00 pm
Categories
Know Your Options.
The COVID-19 pandemic has resulted in the filing of more than 80 million unemployment claims across the country. As nonprofits begin to re-open or shift operations to safely accomplish their missions, organizations should evaluate the impact of these claims to their 2022 budget and beyond.
Tuesday, October 5th, 2021
12:00 p.m. to 1:00 p.m.
Fees: No Charge
Cecilia Piazza
VP, Member Services
First Nonprofit
Unemployment Savings Programs
A Limited Liability Corporation
The Unemployment Savings Program is the only one of its kind and has been for over 20 years. It provides a fixed annual budget and your organization’s very own interest-bearing, proprietary reserve account, all while allowing you to save thousands of dollars when compared to paying the State Unemployment Insurance (SUI) tax. More importantly, your cost and coverage is entirely unaffected by other members.
How does it work?
- The Unemployment Savings Program is specifically designed for your organization.
Annual fees are based exclusively on your unemployment experience and employment profile. There are no shared risks or expenses. - Improve cash flow by making equal, fixed quarterly payments to your reserve account.
While most SUI tax payments are made during the first and second quarters of the calendar year, our program members make four equal quarterly payments. - Build a reserve account your organization actually owns.
Unlike the taxes paid into your SUI tax account with the state, this interest-bearing reserve account is yours and will be returned to you if you should ever decide to withdraw from the program. Your account balance can be considered an asset and recognized as such in your organization’s financial records. - Your organization is protected against high unemployment years with stop-loss insurance that caps your financial liability.
If you lose funding and need to restructure your organization or reduce staff, our stop-loss insurance limits your liability. - Professional unemployment claims administration and cost control is included.
Receive services from unemployment insurance professionals familiar with your state’s laws and statutory requirements to assist you with claims validation, representation at all unemployment appeal hearings, audit of benefit charges, and more.
Why choose First Nonprofit?
Our unique programs are tailored specifically to you. There are no pooled losses or shared expenses; stop-loss insurance limits are calculated for each member based on their size and experience; an individual organization’s coverage limits are not impacted by any other member’s negative claim experience.
We offer true insurance coverage, not group reserves or joint and several liability exposure. Every dollar paid into your reserve account pays for claims charged only by your former employees. In addition, we have access to claims administrators across the country, allowing you to access service that fits your organization’s needs.
We provide state-compliant, individually insured, cost-saving options to satisfy SUI (State Unemployment Insurance) requirements for nonprofit, government and tribal entities. The analysis is free and there is no obligation to join.
