The First Nonprofit Unemployment Savings Program, LLC was established as an alternative to state tax systems.  The Unemployment Savings Program offers its nonprofit members reduced unemployment taxes, improved cash flow, earned interest on their reserve accounts, expert claims advice and stop loss protection in the event of unforeseen circumstances. 

Previously, nonprofits were required to pay a tax in the state unemployment tax system which was based on the employment claims of nonprofit groups and the for-profit industry.  This meant that nonprofits - which generally have fewer claims - often ended up subsidizing high turnover companies, such as fast-food restaurants.  The law allows your nonprofit organization the option of reimbursing the state for only the actual benefits paid to your former employees.  With First Nonprofit Unemployment Savings Program, LLC you can join an unemployment claims reimbursing program as a financially-sound alternative to contributing to your state's tax system.  By enrolling, your nonprofit organization becomes responsible only for your own employment claims, rather than sharing responsibility for the much larger claims of for-profit enterprises.

Their program is individually tailored to each nonprofit organization. They begin by evaluating your unemployment claims history with the state.  Based on this evaluation, you will receive a payment plan unique to your organization's own claims.  This translates into savings of as much as 60% of your unemployment costs the very first year you join!

An added advantage of this program is the option to make your payments in four equal amounts, rather than paying the claims all within the first quarter as most states require.  As a result, your organization will experience improved cash flow.  In addition, your organization receives interest accrued and earned on your reserve account.  As your reserve account grows, so does the interest earned.  The state does not offer refunds or an account where you can accrue interest, so your organization loses money.

For more information visit First Nonprofit's website at www.firstnonprofitcompanies.com.

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