In 1972 the Federal Unemployment Tax Act was amended, giving 501(c)3 non-profit organizations the ability to opt out of State Unemployment Tax programs and instead reimburse State Unemployment programs for their actual paid unemployment benefits.
The Nonprofit Trust is a member owned Unemployment Insurance Administrator serving 501(c)3 non-profits. Joining The Nonprofit Trust and electing to be a self-payer of the organization’s unemployment claims is almost always less costly than paying standard unemployment taxes, freeing up valuable funds for the organization’s programs and services. In many cases, the savings can be 30-40 percent. Organizations with a payroll of at least $1,000,000 are the best fit for this program.
Most State Unemployment Insurance Programs have a deadline of November 30th each year for 501(c)3 non-profits to elect out of their programs. Please send your Request for Proposal as soon as possible. Proposals can be provided at any time and should be reviewed well in advance, but no later than October 15, 2011 to be sure your organization is approved by your state deadline.
For a no obligation proposal to see how much your 501(c)3 organization can save by joining The Nonprofit Trust, please let us know and we’ll forward to you a Request for Proposal.
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