PHILADELPHIA, Oct. 14 /PRNewswire/ -- No major business segment has as many distinct needs as the non-profit sector. Today, Group Benefits On-Line, Inc. (GBO), a Philadelphia-based benefits consulting firm, formally announced the creation of a unique business practice within the company that will focus exclusively to serve non-profit organizations.
With an average client savings of 14 percent and 100 percent non-profit client retention, GBO has learned through experience the needs, structure and management of the growing non-profit business segment. This experience and the true working partnership that GBO creates save clients money and help them advance their mission and mandate.
GBO's strategic partnerships are built around non-profits' needs of raising money, benefits billing, administrative outsourcing, organizational development, human resources consulting and fund-raising. GBO realized that it had a true understanding of how to help non-profits and developed a non- profit practice to work with this somewhat misunderstood and under-served industry.
"GBO's culture is one of doing whatever it takes to help our clients," said Marcos Lopez, founder and president of GBO. "GBO is not the type of business that is just looking for clients. We really choose our clients based on whether we think we can form a real partnership."
Each non-profit organization is under tremendous pressure to accomplish its mission. In addition, each non-profit is under pressure to provide extraordinary benefits: extraordinary in scope and extraordinary in value. But, by their very nature, non-profits have to do more with less for their employees. By creating a real partnership with non-profits, GBO provides better benefits, enhancing the bottom line by saving money, and works with the organization on strategic management issues to help accomplish the organization's core mission. GBO's work is complemented by the core services of its sister company, GBF. GBF works with companies to provide comprehensive retirement plans; among the products include: 403b, 401k plans, plan consulting, investment advisory services, defined benefits plans, and profit sharing plans.
"When Sid Friedman recruited me to create GBO, we knew we wanted to build something truly unique. As we grew, I wanted to provide my employees with constant new challenges and eschew the traditional working environment. I have tried to do this by empowering GBO employees to always innovate for our clients. This new practice for non-profits is an outgrowth of that philosophy," commented Lopez.
At its core, GBO provides benefits outsourcing and administration. This includes billing reconciliation, benefits communication, HR & compliance consulting, technology support, research & vendor negotiations, industry surveys & analysis, benefit/claim issue resolution and group/individual enrollment administration.
Non-profits are caught in a quandary because they cannot operate to raise capital but at the same time insurance companies continue to raise premiums. GBO, however, works to increase efficiencies. For example, its regional partnership with PPI, a Connecticut-based TPA (third party administrator) provides incredible pricing advantages. GBO works with clients to help them establish their mission and vision, providing recommendations to give strategic plans legs -- real advice to execute these plans so the rank and file understand, acknowledge and help achieve.
GBO's partnership approach emphasizes other services such as strategic planning (executive retreats, communication/implementation of vision, government affairs & procurement) as well as specialized training, education and development (board development, compliance training, grant-writing). GBO provides some clients with specialized legal services, deferred compensation plans and web-based employee benefits tool (unique internal secure sites). GBO's services and internal culture integrate seamlessly into non-profit organizations. It offers a service team with an expertise in non-profit issues and organizational needs.
ABOUT GBO:
GBO, Inc. is a Philadelphia-based company with national alliances. The firm was established in September of 1996, when Sidney Friedman, renowned life insurance and estate planning professional, author and motivational speaker, approached Marcos Lopez to start an employee benefits company.
GBO has positioned itself to provide a unique and integrated approach to serve its clients. The core function and goal of GBO is to form a strategic partnership with clients, providing customized products/services to address clients' ever-changing needs.
From its inception, GBO's focus has been to serve both private and public organizations with the most creative, cost-effective and service oriented benefits available. GBO has experienced an average revenue growth in excess of 30 percent. The company culture is one of enjoyment, open-book management, respect, integrity and commitment to professional development.
Group Benefits On-Line, Inc.CONTACT: Chris Hayes, +1-202-326-1768, for Group Benefits On-Line, Inc.;or Christian R. Stearns of Group Benefits On-Line, Inc., +1-215-599-6393