(Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, praised the efforts of the Susan G. Komen Foundation to combat breast cancer and returned missing money from the Department of State Treasurer’s (DST) Unclaimed Property Division (UPD) to the charity during an event at the N.C. State Fair today.
“Everyone knows someone who has battled breast cancer, whether it’s a relative, loved one, friend or neighbor. The Susan G. Komen Foundation is a beacon of hope and relentless champion in the mission to support those experiencing this terrible disease and to find a cure,” Treasurer Folwell said.
“With October being National Breast Cancer Awareness Month it seems only fitting that we are able to return money belonging to the Susan G. Komen Foundation to help them continue their important work,” Treasurer Folwell said. “We share their determination. Through the State Health Plan at the Department of State Treasurer, we encourage early detection efforts, and pay 100% of the cost of mammograms.”
Treasurer Folwell was joined at today’s event by Kimberly Burrows, Susan G. Komen state executive director. Burrows said for 40 years the charity remains at the forefront as the only organization leading research, public policy initiatives, global education and outreach and providing direct patient care services to make the biggest impact against breast cancer.
“People need help today. Now, it is more critical than ever to provide much-needed support to help those facing breast cancer because there are more burdens and barriers to care that breast cancer patients face due to the aftermath of the pandemic and the current economic slowdown adding personal financial stress,” Burrows said.
“We can help reduce breast cancer deaths by 30% today by giving people access to the care and support they need right now. That’s why the Komen Patient Care Center offers direct support services and guidance needed every step of the breast cancer journey,” Burrows said, noting that 1 in 8 women in the U.S. will be diagnosed with breast cancer in her lifetime. “Now is the time for us to invest in providing women the care they deserve and to fund researchers hard at work in search of the cures.”
Whether donating, fundraising or volunteering, the support helps drive the nonprofit’s mission to end breast cancer. More information is available at komen.org.
During a review of data in the system, UPD staff identified $1,560 belonging to the Susan G. Komen Foundation. UPD, commonly called NCCash.com, is the repository for 17.7 million properties valued at $1.02 billion. The assets are under DST’s custody awaiting return to the rightful owners after being lost, misdirected or overlooked. More than 19 million owners are associated with those properties being safeguarded by DST.
UPD paid 178,857 claims amounting to more than $105 million during the 2022 fiscal year that ended June 30. Both numbers were historical records. The returns are on pace to set another record this fiscal year. Through Sept. 30, UPD has paid 45,262 claims totaling nearly $28.1 million from NCCash. Part of that total has been disbursed through the NCCash Match program, a no-hassle, expedited system that eliminated paperwork processing. As of Sept. 30, DST paid 25,058 Cash Match claims totaling nearly $8.4 million.
Under state law, UPD receives and safeguards funds that are escheated, or turned over, to DST. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned.
Unclaimed property can result from a person or entity forgetting they are due money, or from a move of location and forgetting to provide a new address. It also could result from a typing error in a house number or zip code in an address, a name change, or data loss from a business converting its computer system. As society becomes more mobile and steadily moves to electronic transactions, the risk of having unclaimed property has increased.
More information, including how to find out if you are owed money, can be found at https://www.nccash.com/.