325 nonprofit organizations asked UST to compare their current state unemployment insurance (SUI) tax rate with what they would save by exercising their nonprofit exemption from SUI taxes and participating in the UST program.
After tallying the Savings Evaluations requested by more than 325 nonprofits in 2014, the Unemployment Services Trust (UST) found $5,437,701 in potential unemployment tax savings.
“Surpassing our 2013 potential savings number by nearly $2 Million was a huge accomplishment for UST,” said Donna Groh, Executive Director. “As the UST Program and enrollment rate continues to grow, so will the Trust’s positive impact within the nonprofit sector.”
By exercising their federal exemption from paying state unemployment taxes, nonprofits that work with UST are able to pay only for their own unemployment costs directly to the state, saving them valuable dollars. Since they are no longer part of the pool of for-profit companies that must pay unemployment taxes, they can avoid rising costs due to state budgets, the layoffs of other organizations, and other volatile factors that affect the state unemployment fund.
Offering the latest HR and unemployment cost management services, including an HR hotline, 200+ online training courses and claims administrative support, UST’s competitive benefits have helped thousands of nonprofits nationwide realize their unique savings opportunities . In fact, UST has not received this many Savings Evaluations since the early 2000’s.
“We work tirelessly to ensure that our members get the most out of the UST program, whether we’re helping lower their unemployment insurance costs or alleviating paperwork burdens,” said Groh. “The increase in interest and potential savings we experienced last year is a testament to the high-level support and resources that UST provides.”
If you have 10 or more employees, fill out your complimentary Savings Evaluation today and see if your organization could benefit from UST. Those who enroll will gain immediate access to expert claims advice, the live HR hotline and downloadable HR templates.
About UST: Founded by nonprofits, for nonprofits, UST is the largest unemployment trust in the nation, providing nonprofit organizations with 10 or more employees a safe, cost-effective alternative to paying state unemployment taxes. UST has partnered with 87 state and national nonprofit-based associations to teach their members about their unemployment insurance alternatives. Visit www.ChooseUST.org to learn more.