More than 400 nonprofits asked UST to benchmark their current unemployment costs, and determine whether they could reduce overhead costs by exercising their federal exemption from paying state unemployment taxes and joining the UST program.
Santa Barbara, CA, April 27, 2016 (Newswire.com) - After receiving 407 unemployment cost evaluation requests from nonprofit organizations last year, UST was able to uncover $6,022,190 in potential unemployment liability savings.
“Having seen an increase in potential savings by $2.5 million in the last two years is a tremendous achievement for UST and for nonprofits,” said Donna Groh, Executive Director. “This continuous growth in the UST program and in reducing the nonprofit sector’s liability costs is a testament to the sector’s stewardship and desire to better manage their resources.”
"Having seen an increase in potential savings by $2.5 million in the last two years is a tremendous achievement for UST and for nonprofits."
Donna Groh, Executive Director
By exercising their unique nonprofit tax alternative, as allowed by Federal law, 501(c)(3) organizations participating with UST have the ability to pay only for their own unemployment claims, which can save them thousands long-term. Because they are no longer subsidizing for-profit companies in the state tax system, and are receiving claims administration services, UST members can more efficiently manage their unemployment claims while mitigating liability.
In addition to offering claims support, UST provides a wide-assortment of HR tools designed to help nonprofits maintain best practices and avoid costly litigation. These resources, including the live HR hotline, 200+ training courses and online employee handbook builder, enable UST to generate ongoing awareness throughout the nonprofit community.
“Founded by nonprofits for nonprofits, we aim to cultivate a holistic support system that alleviates the everyday burdens nonprofits tend to face, such as paperwork deadlines, strict budgets and limited employee bandwidth,” said Groh. “The spike in interest levels regarding UST is an incredible opportunity for us to continue to spread the word of UST’s mission objective: Providing nonprofits with workforce solutions that reduce costs and strengthen their missions.”
To find out if your nonprofit could benefit, fill out a complimentary Savings Evaluation at www.chooseust.org/request-a-savings-quote/.
Source: Unemployment Services Trust
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