Treasurer Folwell, Carolina Panthers Help Safe Alliance Score Holiday Win Unclaimed Property Fund Has More Than $900 Million Still Waiting to be Claimed by the Rightful Owners
(Raleigh, N.C.) – The Department of State Treasurer (DST) and Carolina Panthers executed a winning handoff to help a Charlotte-based charity brighten the holidays for dozens of women and children in its multi-county service area.
“We are thankful that the Carolina Panthers joined with the team in our Unclaimed Property Division (UPD) to donate money to Safe Alliance," said State Treasurer Dale R. Folwell, CPA. “The nonprofit organization does crucial community work helping survivors of domestic and sexual abuse and exemplifies the giving spirit of North Carolina in helping the less fortunate, not just during the holidays but year-round.”
After learning it had $2,556.14 in the Unclaimed Property Fund (UPF), the Panthers organization agreed to pay it forward to Safe Alliance at a check presentation ceremony at Bank of America Stadium on Dec. 11. Treasurer Folwell and Riley Fields, Panthers director of community relations, presented the check to Karen Parker, Safe Alliance president and CEO, and Caitlin Donley, Safe Alliance chief advancement and finance officer. DST mascot Bill the Bill and Panthers mascot Sir Purr were in attendance.
There are approximately 17 million properties in the UPF database valued at roughly $919 million. By law, DST safeguards the money, uncashed checks, forgotten bank accounts, utility deposits, stocks, bonds, abandoned safety deposit boxes and personal property until the owner claims it.
“We’re extremely grateful to the Treasurer’s Office and the Panthers for thinking about us at a time when we are in such great need,” said Karen Parker, Safe Alliance president and CEO. “We’ve been telling everybody we know to check NC Cash.com to see if they have any money there.”
Domestic violence cases are up by 20% during the pandemic, so Safe Alliance needs support more than ever at this time, Parker said. The agency is serving about 120 women and children, and some men, nightly at its shelter.
“The donation is going to be used to provide care items for our shelter clients over the holidays and into January,” Parker said. “Those folks don’t always have access to care items or funding for care items. Towels, bedroom slippers and other essentials will be made into festive baskets to provide a little holiday cheer.”
"The Carolina Panthers are pleased to partner with North Carolina State Treasurer Dale Folwell to bring awareness to the state's Unclaimed Property Fund, as well as the convenient NCCash.com website that individuals can use to check if they have assets in the UPF," Fields said.
"The Panthers are also pleased to provide approximately $2,500 in unclaimed assets that were being held in the fund to support Safe Alliance and its mission to provide hope and healing to women and children this holiday season who are recovering from issues of domestic violence and intimate partner assault," Fields said.
UPD has experienced a spike in the number of claims being paid in 2020, in part due to increased awareness campaigns. Also, people have more time to research the website due to pandemic-related work-at-home directives and job losses.
For the fiscal year that began July 1, UPD has returned $24.2 million to the rightful owners through Nov. 30. During that time 34,395 claims were paid, a 53% increase compared to the 22,469 claims paid during the same months in the 2019 fiscal year.
Since taking office in 2017 Treasurer Folwell prioritized returning unclaimed property to the rightful owners. From 2017 through 2019 a total $171.5 million has been returned, compared to $159.8 million returned from 2013 through 2015.
“We’re in the check delivery business,” said Treasurer Folwell. “Getting this money back to the rightful owners is very important to me. We always are looking for ways to make that happen.”
Treasurer Folwell noted the new NCCash Match program as an example. After gaining legislative approval, DST launched the new pilot program in October. Under NCCash Match UPD will proactively research records and identify qualifying claims of $250 or less. Notification letters are then mailed to claimants and, when verified, checks are issued in six to eight weeks.
To date, the program has paid 5,443 claims totaling $362,486 and is on track to reach the goal of paying 25,000 of the expedited claims worth $1.4 million total over a six-month period.