ABOUT THE TRUST
The 501(c) Agencies Trust helps nonprofits leave the state unemployment tax system and just reimburse the state back for any claims paid out. This “self-reimbursement” option typically saves nonprofits thousands of dollars each year. It is a legal option for all 501(c)(3) organizations. It is most appropriate for nonprofits with gross annual payrolls over $1 million.
The Trust has over 1,400 members and it’s goal is to provide safety and security for self-reimbursing nonprofits. If your nonprofit is in the state unemployment (SUI) tax system (or some other program), we will analyze your current costs to see if it makes good financial sense for you to join our program. If it is, then we file the paperwork with the state and set up your individual account with the Trust.
On an quarterly basis you pay into your reserve account for anticipated claims, program service fees, and a recommended deposit to build your account for future claims.
WHAT DOES MEMBERSHIP MEAN?
By joining the Trust, your nonprofit is projected to save money over your current unemployment funding method. Our goal is to keep your unemployment costs low so that more money can be used for your mission. We provide these key program services:
- Claims management — We file paperwork on all claims; manage hearings, audit charges and reduce your time and money spent on unemployment
- HR Hotline — a real person is here to answer your human resource question, talk with you about a handling a situation, or provide resource information
- Free workshops and webinars on a variety of HR and unemployment topics
- Individualized reserve account—never pooled with other accounts–and it’s always your money
- Stop loss insurance for major claim losses
- Purchasing Point Group Discount membership
- Membership in the Trust is a partnership with an organization that cares about nonprofits and wants to support your work in the community. The 501(c) Agencies Trust was founded in 1982 by a nonprofit executive and is governed by a nonprofit board.
Every state has a deadline when they can opt out of the SUI tax system—either Nov. 30 or Dec. 1, each year. If you are interested in learning more, please contact us as soon as possible to complete an Evaluation Form and set up a time to talk with your TANGO partner at the Trust, Cynthia Koral. It is recommended that you complete your Evaluation Form by early October, at the latest.