First Nonprofit Insurance

 

First Nonprofit GroupTANO has partnered with First Nonprofit Companies (FNC) to provide our members and other nonprofits with turnkey solutions to save up to 60% on unemployment insurance costs. Since 2001, FNC has helped over 850 nonprofit organizations across the country save over $30 million in unemployment taxes. We want to help even more nonprofits save money, so we are working with FNC to make all Texas nonprofits aware of this cost-saving program.

Texas Fact Sheet 2015The Opportunity

Nonprofits typically have fewer unemployment claims than the private sector; therefore, they often subsidize the state unemployment fund by paying more than necessary. Federal and state laws allow 501(c)(3) organizations to reimburse the state unemployment fund, rather than pay the UI tax in advance of having actual claims. FNC’s unemployment programs may well reduce your unemployment costs if you currently participate in the state tax system, and can provide you with a safety net if you have already chosen the reimbursable option.

FNC’s unemployment programs include:

  • Fixed annual cost
  • Interest-bearing, proprietary reserve account owned by the nonprofit
  • Fully insured option or Stop Loss insurance to minimize/eliminate your risk
  • Claims representation in unemployment hearings and audits
  • Access to training and services that can decrease the number of invalid claims
  • No pooling or shared risk

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TANO members enrolling in FNC’s Unemployment Savings Program, receive a 20% discount on enrollment fees thus reducing the cost from $11.25 per FTE to $9. The one-time enrollment fee is capped at $1125 resulting in TANO members paying no more than $900. Additionally, TANO members will be entitled to special fee or profit sharing option based on favorable experience in all of the unemployment insurance products (Bonded Service Program, Excess Loss Insurance Policy, State Mandated Unemployment Insurance Bond).

Contact TANO at info@tano.org for more details.