Charitable Giving Is Increasing Again. Unemployment Remains An Obstacle, However

Colorado has turned to old school forms of cash generation as they prepare to manage a bond sale. Designed to lower unemployment costs and help the state’s unemployment insurance system meet its financial obligations, the sale will generate more than $640 million through the Colorado Housing and Finance Authority.

Currently the Colorado Unemployment Insurance Trust Fund has a negative balance of more than $600 million after the recessions of 2002 and 2008.

In a joint announcement by Democratic Gov. John Hickenlooper and Republican state Treasurer Walker Stapleton, the men explained that the bond sale will eliminate additional UI solvency surcharges that Colorado employers have paid since 2004. In the short term, Colorado employers still within the state system will see savings starting next year of up to $120 per worker.

Businesses will repay the bond over time though and can expect fewer savings with each year.

For nonprofit agencies still in the state system, there are other options, such as leaving the state to join a Trust, like the Unemployment Services Trust (UST), that can help save more money and gain greater predictive control over yearly budgeting.

In fact, Colorado nonprofits that leave the state system and join UST save an average of $6,300 a year.

To learn more about your opt out alternatives, visit http://www.chooseust.org/501c3-unemployment-alternatives/ or sign up for an upcoming webinar “Exclusive Nonprofit Savings”.

Read the original MSN Money article here.

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01/10/11 8:51 PM

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UST maintains a secure site. This means that information we obtain from you in the process of enrolling is protected and cannot be viewed by others. Information about your agency is provided to our various service providers once you enroll in UST for the purpose of providing you with the best possible service. Your information will never be sold or rented to other entities that are not affiliated with UST. Agencies that are actively enrolled in UST are listed for review by other agencies, UST’s sponsors and potential participants, but no information specific to your agency can be reviewed by anyone not affiliated with UST and not otherwise engaged in providing services to you except as required by law or valid legal process.

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This Privacy Policy and the Terms of Use for our site is subject to change.