Over the next few weeks, UST will be giving 537 nonprofits a combined $7,051,624.72 in cash back for their ability to reduce their unemployment claims over the past year.
In the coming weeks, the Unemployment Services Trust (UST) will be giving $7,051,624.72 in cash back to more than 530 member organizations. And after accruing all of their claims savings, audited state returns, and cash back throughout the past year, UST program participants will have experienced a grand total of $43 million in savings.
“Being able to tell our members that UST is giving them money back is one of the most satisfying aspects of working for the Trust,” said Donna Groh, Executive Director of UST. “For many of our members, their cash refunds offer the financial flexibility they need to execute more mission-driven objectives. Learning how this money continues to empower these nonprofits is an incredible incentive for us to look for new ways to reduce unemployment costs for our membership as a whole.”
UST aims to provide 501(c)(3) nonprofits with the latest HR training and unemployment claims management tools they need to stay compliant with the state, reduce paperwork burdens and save money. Unlike the state unemployment tax system, UST allows for cash back when an organization is able to reduce their unemployment claims to lower than what was anticipated, and they have a healthy reserve balance for future claims.
“Whether they’re implementing new programs, bringing on additional employees or expanding their fundraising efforts, it’s unbelievably rewarding to hear how our members are using their refunds to further impact the nonprofit community,” said Adam Thorn, Director of Operations.
These refunds are just part of how UST serves its mission of “Saving money for nonprofits in order to advance their missions.”
To learn more about the UST program for 501(c)(3) employers with 10 or more employees, visit www.ChooseUST.org or call (888) 249-4788 to speak with an Unemployment Cost Advisor.