In their goal to reunite community service organizations with unclaimed property, the Pennsylvania Treasury says over $6,500 remains unclaimed by food banks, shelters and Salvation Army. That money would help meet increased demand during the holiday season.
State Treasurer Rob McCord encouraged all charitable organizations to search www.patreasury.gov to see if a portion of these funds, or the $1.9 billion in unclaimed property the Treasury currently holds, is owed to them.
“Community food banks and shelters are on the front line of the fight against hunger and homelessness. Their work is particularly vital at a time when studies report nearly 12% of Pennsylvanians have experienced periods of food insecurity,” Treasurer McCord said. “Even a small amount of money can provide a great deal of relief, so this holiday season, Treasury wants to support the important missions of these organizations by returning property and funds rightly owed to them.”
Treasurer McCord explained that people and organizations usually do not know they are owed property because “holders,” or entities that hold property owed to others, are not required under state law to contact the owner before remitting it to Treasury. As a result, Treasury each year receives millions of dollars in unclaimed property in the form of abandoned bank accounts, forgotten stocks, uncashed checks, and contents of safe deposit boxes.
“Nonprofit organizations depend on public and private support to fund their efforts. We want Pennsylvania’s Unclaimed Property Program to be a top-of-mind resource to these organizations, too,” Treasurer McCord said. “We currently hold $1.9 billion in unclaimed property for businesses, individuals, municipalities and organizations. We want to return those funds to the rightful owners, so those resources can be put to work in the economy. So take a moment to search your name, the names of your family members and friends, and the names of organizations important to you. It could make a world of difference.”
State Treasurer Rob McCord encouraged all charitable organizations to search www.patreasury.gov to see if a portion of these funds, or the $1.9 billion in unclaimed property the Treasury currently holds, is owed to them.
“Community food banks and shelters are on the front line of the fight against hunger and homelessness. Their work is particularly vital at a time when studies report nearly 12% of Pennsylvanians have experienced periods of food insecurity,” Treasurer McCord said. “Even a small amount of money can provide a great deal of relief, so this holiday season, Treasury wants to support the important missions of these organizations by returning property and funds rightly owed to them.”
Treasurer McCord explained that people and organizations usually do not know they are owed property because “holders,” or entities that hold property owed to others, are not required under state law to contact the owner before remitting it to Treasury. As a result, Treasury each year receives millions of dollars in unclaimed property in the form of abandoned bank accounts, forgotten stocks, uncashed checks, and contents of safe deposit boxes.
“Nonprofit organizations depend on public and private support to fund their efforts. We want Pennsylvania’s Unclaimed Property Program to be a top-of-mind resource to these organizations, too,” Treasurer McCord said. “We currently hold $1.9 billion in unclaimed property for businesses, individuals, municipalities and organizations. We want to return those funds to the rightful owners, so those resources can be put to work in the economy. So take a moment to search your name, the names of your family members and friends, and the names of organizations important to you. It could make a world of difference.”