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You may not be aware, but YMCAs have a choice as to how you fund your unemployment insurance. You can:
- Pay into your state’s unemployment tax system as most Ys do.
- Opt out and pay your state on a quarterly basis, or
- Opt into a third-party unemployment savings program.
Under a third-party unemployment insurance savings program, you can:
- Get a program designed specifically for your Y with fees (aka premium) based exclusively on your unemployment claims experience and profile.
- Improve your cash flow by paying four quarterly payments as opposed to the first two quarters of a year.
- Build a reserve account that you own. It pays interest and can recognized as an asset on your balance sheet.
- Professional unemployment claims administration and cost control is included.
Many nonprofits across the country have taken advantage of this unique insurance product and many have saved significant sums year after year by participating in this program.
If you would like a brief no cost, no obligation quote please call us to discuss. It takes little time and the benefits can be enormous.
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