UST helps 185 eligible nonprofit organizations determine whether they could significantly reduce overhead costs by exercising their unique unemployment tax exemption status
Santa Barbara, CA, April 6, 2017 (Newswire.com) - The Unemployment Services Trust (UST), a program founded by nonprofits for nonprofits, today announced it has identified $4,781,957 in potential unemployment liability savings for 185 eligible nonprofits.
By exercising their exclusive 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 annually. Because they are no longer subsidizing for-profit companies in the state tax system, and are receiving expert claims guidance, UST members can efficiently manage their unemployment claims while mitigating liability.
"Within the last three years, UST has identified over $16 million in potential unemployment claims savings for hundreds of nonprofits across the United States."
Donna Groh, Executive Director, UST
"Within the last three years, UST has identified over $16 million in potential unemployment claims savings for hundreds of nonprofits across the United States," said Donna Groh, Executive Director of UST. "It's incredibly rewarding to know that the UST program continues to provide financial relief to such hard-working nonprofits and the communities they serve."
In addition to offering claims support, UST also help nonprofits cut costs further by helping organization streamline their workforce and avoid costly legal fees with robust HR resources built into its program. These expert tools, including the live HR hotline, online job description builder and award-winning outplacement services, provide UST participants the extra bandwidth they need to strengthen their missions.
As the largest, lowest-cost trust nationwide, UST helps 501(c)(3) organizations save valuable time and money through a host of workforce management solutions that include - unemployment claims management, cash flow protection, certified HR assistance, outplacement services and more. With the ability to find hidden savings for both tax-rated and direct reimbursing employers, UST encourages nonprofits with 10 or more employees to benchmark their costs.
Founded in 1983, the Unemployment Services Trust (UST) provides 501(c)(3)s with a cost-effective alternative to paying state unemployment taxes. UST participants save millions annually through claims management, hearing representation, claim audits, outplacement services and HR support. Join more than 2,200 nonprofits nationwide and request an Unemployment Cost Analysis at www.ChooseUST.org.
Source: Unemployment Services Trust