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Many nonprofit organizations that chose to fund their own unemployment benefits rather than pay into their state system and had to lay off employees because of the coronavirus will soon face a large payment that could strain their finances or even put some out of business.
Many nonprofits chose this option, known as self-insurance or the “reimbursable method,” because they “have a stable workforce, and the tax is more than they would pay” in unemployment benefits, said David Thompson, vice president of public policy with the National Council of Nonprofits.
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Click here to read the article reported by Kathleen Pender.
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