Treasurer Stacy Garrity and Intermediate Unit 1 Executive Director Dr. Donald Martin Announce Return of More Than $85,000 in Unclaimed Property to IU1
Coal Center, PA - Pennsylvania Treasurer Stacy Garrity and Intermediate Unit 1 (IU1) Executive Director Dr. Donald Martin announced today that more than $85,000 in unclaimed property has been returned to IU1, which serves public schools in Fayette, Greene and Washington counties.
“All across Pennsylvania, Intermediate Units support our students, parents, educators, school administrators, and communities. They are a critical part of our public school system, which is why I’m thrilled to return these funds to IU1. We often think of unclaimed property as belonging to individuals – and much of it does – but unclaimed property also belongs to nonprofit organizations, businesses, and even local government agencies. I encourage everyone to take a minute and search our website today.”
Pennsylvania State Treasurer Stacy Garrity
“On behalf of Intermediate Unit 1 and our Board of Directors, I want to applaud Treasurer Garrity and the department for assisting our organization in receiving these unclaimed property funds. These funds will be used to offset costs of our programs and initiatives, which inevitably will provide a savings to our districts that utilize these services. Anytime we can do that, it’s certainly a ‘win-win’.”
Intermediate Unit 1 (IU1) Executive Director Dr. Donald Martin
The $85,135.54 returned to IU1 included nine individual properties ranging in value from $.01 to $84,909.83. The oldest property dates back to 2003, while the most recent is from 2019. Properties returned include credit balances, a refund/rebate, and a utility refund/deposit.
Treasury is working to return more than $4.5 billion in unclaimed property to its rightful owners. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth nearly $1,600.
Unclaimed property can include dormant bank accounts, claims payments, accounts payable, uncashed checks, insurance policies, contents of forgotten safe deposit boxes and more. State law requires businesses to report unclaimed property to Treasury after three years of dormancy.
IU1 is a regional educational agency that strives to provide educational support to the students, parents, educators, school administrators, and the communities throughout southwestern Pennsylvania. One of the state’s 29 Intermediate Units, IU1 was established in 1971 to serve the schools in Fayette, Greene, and Washington counties.
Intermediate units serve students and schools by providing essential education services, such as special education, online learning programs and support, preschool programs, professional development for educators, administrative and purchasing consortia and much more. IUs are led by an executive director and governed by boards of directors composed of school board members from member school districts.
To learn more about unclaimed property or to search Treasury’s database, visit patreasury.gov/unclaimed-property.
Media contacts:
Samantha Heckel, Press Secretary (Treasury), 717-418-0206 or sheckel@patreasury.gov
Rachel Greenlee, Public Relations & Marketing Coordinator (IU1), 412-582-0236 or rachel.greenlee@iu1.org
