For immediate release
December 14, 2012
PA Treasury Seeks to Return Nearly $20,000 in Property to Shelters, Food Banks, other Organizations that Serve the Less Fortunate
Over $13,000 in claims already sent because of Treasury holiday season outreach
Harrisburg – Ongoing efforts by the Pennsylvania Treasury to reunite community service organizations with unclaimed property have led to claims for more than $13,000 by food banks, shelters and Salvation Army chapters, said State Treasurer Rob McCord today, but at least $6,500 remains to be claimed by these types of organizations – funds that can help to meet increased demand during the holiday season.
Treasurer 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 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.”
The Treasurer encouraged everyone to search Treasury’s free unclaimed property database at www.patreasury.gov or call 1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m. A member of Treasury’s Return Team will assist with their search and the claim process.
Since January 2009, the McCord Treasury has collected more than $843 million in property, returned more than $394 million to rightful owners, and generated about $449 million for the state’s General Fund through the Unclaimed Property Program.
To learn more about the Pennsylvania Treasury’s Unclaimed Property Program, visit www.patreasury.gov.
Media contact: Elizabeth Foose, 717-787-2991 or firstname.lastname@example.org
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