PANO, Your Partner for Nonprofit Excellence
Products and Services
Business Insurance- Statewide
Full range of business products for nonprofits including Automobile, Directors & Officers Liability, Unemployment, Fidelity Bonding, General Liability, Professional Liability, Property, and Volunteer & Participant Accident, and Workers Comp.
Unemployment Insurance Alternative for Smaller Nonprofits
PANO endorses First Nonprofit Companies and their unemployment savings products. Instead of paying the state unemployment tax, 501(c)(3) organizations can elect reimburse the state for validated claims paid to former employees, dollar for dollar. This often translates into savings of as much as 60% of your unemployment costs. First Nonprofit Companies offers programs for nonprofits which are designed to allow the organization to enjoy the reduced costs of reimbursing without exposing their budgets to unnecessary risk. Each program meets the needs of different size organizations with different budgetary goals. If your organization is a 501(c)(3) with at least 10 full-time employees, one of these programs may save you money.
A few of the many highlights of the program include:
-Unemployment insurance savings of as much as 60%
-Two cost savings programs to choose from depending on your organizational size
-PANO members receive a 20% discount on the one-time enrollment fee
-Smoothes cash flow by billing in 4 equal quarterly installments
-Stop loss insurance to support your agency in the event of catastrophic layoffs
-Claims administration services included
-Professional representation in unemployment hearings and audits included
-Training opportunities on employer responsibilities and risk mitigation
-Free Cost Saving Evaluation conducted by First Nonprofit Companies
Only 501(c)(3) organizations can elect to become reimbursing organizations. This program works best for organizations with 10 or more FTE's.
Currently, nearly 300 nonprofits in the State of Pennsylvania are enrolled in the program and enjoying savings and administrative benefits. Collectively, these nonprofits save hundreds of thousands of dollars annually. To find out how much your agency can save each year, fill out this free evaluation application.
To see if the PANO UI alternative program will work for your organization, fill out this free evaluation application from First Nonprofit Companies and fax it back to First Nonprofit Companies at the number on the form.
For more information about the program, call 800-526-4352, ext 3017 or email FNCUI@firstnonprofit.com.
First Nonprofit Companies is a PANO preferred partner for business insurance and for their unemployment savings products. Instead of paying the state unemployment tax, 501(c) (3) organizations can elect reimburse the state for validated claims paid to former employees, dollar for dollar. This has translated to an average savings of 56.68% for PA members over their previous unemployment costs. First Nonprofit Companies offers programs for nonprofits which are designed to allow the organization to enjoy the reduced costs of reimbursing without exposing their budgets to unnecessary risk. In 2009 alone, First Nonprofit Companies saved Pennsylvania members $2,283,660, and since 1998 they have saved PA members over $11.6 Million over their previous unemployment costs. Currently, nearly 300 nonprofits in the State of Pennsylvania are enrolled in the program and enjoying savings and administrative benefits.
To find out more information on First Nonprofit Companies Unemployment Programs and how to get a free savings evaluation, email FNCUI@firstnonprofit.com or call 800-526-4352 x3017.
- 2013 Pennsylvania Fact Sheet321.65 K | 10/2/2013
- 2013 Unemployment Application740.42 K | 10/2/2013
- Flyer about the Unemployment Program728.55 K | 10/3/2013
Unemployment Insurance Products- Large Organizations
While the most innovative and conscientious insurance providers continue to forge new and cost effective solutions that improve the competitiveness for the corporate sector, there are precious few nonprofit specific risk transfer products that make a difference. But resourceful insurance providers occasionally create opportunities for nonprofits that make the for-profit enterprises envious. One such relatively unknown and underutilized product, not available to for-profit enterprises, is a pure risk transfer of unemployment liabilities from the nonprofit employer to the provider. Though not a traditional insurance product since unemployment compensation is technically a social insurance tax, it is an exclusive method of transferring the entire responsibility of unemployment compensation to a third party by means of a guaranteed service contract.
First Nonprofit Companies, Inc. (FNC) is one of the nation’s largest and certainly the fastest growing provider of alternative methods of financing unemployment costs. As a wholly-owned subsidiary of the PANO-endorsed First Nonprofit Mutual Insurance Company, FNC also manages the First Nonprofit Unemployment Savings Program in which many PANO members participate. Its Bonded Service Contract is specifically designed to assume the risk for unemployment compensation for large nonprofit employers. The benefits to the nonprofit are numerous, while the cost is mostly a function of their own specific past unemployment and funding experience. Benefits include:
Ø Payment of all unemployment benefit charges
Ø All surety and financial obligations insured by First Nonprofit Mutual Insurance Company
Ø Complete budgetary certainty
Ø Precise allocation to each source of benefit cost
Ø Improved revenue utilization
Ø All-inclusive, customized program fee
Ø Local, professional third party administration of claims
Ø Comprehensive loss reporting
Ø Issue specific supervisory training
Ø Unemployment hearing representation
Ø Savings as high as 40-50%
More importantly, funding and fee flexibility allow FNC to design the Bonded Service Contract to specifically meet the unique needs of any nonprofit that has experienced unusual unemployment activity in the recent past or expects a change in employment levels in the future. For example, in some cases, a large nonprofit may wish to share a portion of the annual projected unemployment cost but because of funding limitations need precise capitation of the liability. Also, for the nonprofit confident of funding a precise layer of liability, First Nonprofit Companies provides Unemployment Benefit Excess Loss Insurance with a working attachment point chosen by the employer.
In this time of significant change and rapidly expanding unemployment compensation risk, large Pennsylvania nonprofits need every advantage to insure the on-going integrity of their mission. FNP’s Bonded Service Contract is an ideal method of specifically meeting the unique needs, risk strategies and financial limitations of most large nonprofit organizations.
For more information or a free estimate, call Joe Poretto, 800-526-4352, ext. 7888.
"Leg Up Farm has been a member of PANO since 2008. They offer several benefits which have been beneficial to our organization. I have nothing but good things to say about the Nonprofit Health (Insurance) Alliance whose broker, JRG Advisors, provides phenomenal customer service." Deanna Croucher, Business Manager.
- 2013 Unemployment Application