What do state unemployment taxes (SUTA), state unemployment reserve balances and claims overpayment rates mean to your nonprofit? These factors could mean less money for your nonprofit organization’s cause.
$554 SUTA Cost Per Employee
Factors used in calculating employer state unemployment tax rates have increased, therefore increasing the average unemployment tax cost per employee by 49% since 2009.
$313 Million Unemployment Claim Overpayments
Pennsylvania’s April 2014 – March 2015 unemployment claim overpayment rate was 13.5446%. equaling over $313 million in overpayments.
Over $160 Million Borrowed by PA Nonprofits
Pennsylvania Association of Nonprofit Organizations conducted a survey on the impact of the 2015-2016 budget impasse on nonprofits. 131 organizations collectively borrowed $160,776,108 to continue operations during the state budget impasse.
Historical SUTA Increase After Impasses: $74-$81
After Pennsylvania’s significant budget impasses of fiscal years 2004 (signed 176 days late) and 2010 (signed 101 days late) budgets, SUTA costs increased by $81 in 2005 and $74 in 2011.
There are options to financing your nonprofit organization’s unemployment costs.
First Nonprofit Group provides more than 1,800 nonprofit organizations and governmental entities around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost savings evaluation. Evaluations include a 2017 rate projection!
