501(c) Services, the nation’s oldest provider of full-service alternatives to state-run unemployment insurance programs for nonprofits, announced today that it has become a founding member of Certified Employee-Owned (Certified EO), a new certification program for employee-owned companies.
“501(c) Services is a 100 percent employee-owned company. We take great pride in that fact and are pleased to become a founding member of Certified EO,” said Darren Bowman, CEO of 501(c) Services. “Our clients are nonprofits, and our employees share our clients’ passion for the nonprofit sector. Employee ownership is a natural extension of that passion, because it rewards their dedication to providing world-class service. We believe obtaining this certification demonstrates to the nonprofit sector that we exist to help them fulfill their missions.”
To become a member of Certified EO, 501(c) Services had to pass a rigorous certification process and prove significant and broad-based employee ownership. Certified EO has multiple levels of membership, and 501(c) Services qualified for the highest tier, 100 percent ownership, because every employee is treated as an owner or potential owner under rules that apply equally and equitably to all employees at every level. “Our Employee Stock Ownership Plan (ESOP) empowers employees to think and act like owners, which results in an engaged workforce, happy customers, and sustainable success that benefits the nonprofit community,” said Bowman.
It’s these wide-ranging benefits that inspired Thomas Dudley to co-found Certified EO. “We want employee ownership to be part of the national consciousness,” Dudley said. “Employee-owned companies create wealth for working people and strengthen local economies. By creating a common brand for employee-owned companies, we’re combining the reach of our members to raise the profile of employee ownership. Our members benefit because we help them tap into Americans’ support for employee ownership in marketing, recruitment, and internal communications.”
About 501(c) Services
Based in San Jose, California, 501(c) Services 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. It is 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.