Today, we welcome St. Vincent de Paul of Baltimore as a new program participant of 501(c) Agencies Trust.
St. Vincent de Paul is now returning much of the money they had been sending to the state in the form of unemployment taxes to their programs and services. It’s a solution that all 501(c)(3) nonprofits with more than 15 employees should consider.
They chose 501(c) Agencies Trust from the suite of programs provided by 501(c) Services that are designed to help them save money on their unemployment taxes. Federal law allows 501(c)(3)s to stop paying their unemployment taxes and to self-fund their own programs. For many nonprofits, doing so can save organizations 40 to 60 percent on those unemployment insurance costs.
St. Vincent de Paul’s work began during the Civil War. For most of its history, St. Vincent de Paul consisted of three principal functions: parish conferences, summer camps, and collection bureau/thrift store operations. In 1986, St. Vincent de Paul was invited to take over operation of Beans & Bread, a local soup kitchen founded in 1977 by Benet Hanlon. In the decades since, St. Vincent de Paul significantly expanded its community services, adding programs focused on homeless services, employment training, early childhood education, and healthy food access.
501(c) Services, a 100% employee owned organization, has more than 35 years of experience in providing full-service alternatives to state-run unemployment insurance programs, and provides services to over 1,500 nonprofits nationally. We are the administrator of the 501(c) Agencies Trust, which offers a comprehensive suite of risk management services and multiple stop-loss protection solutions for its 501(c)(3) nonprofit members, and UInsure, a first dollar unemployment insurance program for 501(c)(3)s, government entities, and tribally owned businesses.