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.
$348 Average State Tax Cost Per Employee
Factors used in calculating employer unemployment rates have increased, therefore increasing the average unemployment cost per employee by 38% from $253 in 2009 to $348 by 2015.
$25 Million Unemployment Claim Overpayments
Arkansas’ April 2014 – March 2015 unemployment claim overpayment rate was 10.511%, equaling over $25 Million.
There are options to financing your nonprofit organization’s state unemployment costs.
First Nonprofit Group provides state compliant, individually insured, cost saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Above is a sample savings analysis of one of our members in Arkansas since 2009.
We provide more than 1,800 organizations 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!
