An unemployment insurance program that includes an insured risk management solution and claims administration is essential to keeping 501c3 nonprofit organizations safe from needless unemployment costs. While opting out of paying state unemployment insurance (SUI) taxes is a relatively easy process, the decision to change unemployment financing should be accompanied by a well thought out strategic plan on how to pay for future unemployment claims and limit claim liability.
501c3 nonprofits that elect to opt out of SUI taxes are solely responsible for future, unfunded unemployment benefit charges payable (at the state’s discretion) to former employees. Moreover, making that reimbursing election involves a larger fiduciary responsibility for protecting against future unexpected losses.
First Nonprofit Group of AmTrust Financial Services (rated “A” Excellent) provides state compliant, individually insured, cost-saving options to satisfy SUI requirements for nonprofit entities. Nationally, nearly 2,000 organizations with over half a million employees rely on First Nonprofit Group to reduce, manage and safeguard their organization from uncertain downstream unemployment insurance expenses.
Our customers represent all sectors of the 501c3 nonprofit community including:
Social service organizations
- Child and family services
- YMCAs and YWCAs / Boys and Girls Clubs
- Goodwill Industries
- Community action agencies
- Domestic violence and homeless shelters
- Assisted living centers
- Vocational guidance and training centers
Educational service organizations
- Charter and private schools
- Colleges and universities