(Raleigh, N.C.) – Calling it a sorrow of deadly proportions, State Treasurer Dale R. Folwell, CPA, said Alzheimer’s disease is a growing affliction among mostly elderly people that organizations such as the Alzheimer’s Association — Western Carolina Chapter are vigorously working to address.
He offered his comments on Monday, Oct. 31, in Asheville, where he was presenting missing funds from the Department of State Treasurer’s (DST) Unclaimed Property Division (UPD) to the Alzheimer’s Association — Western Carolina Chapter. During a review of data in the system UPD staff identified $2,853.57 belonging to the Alzheimer’s Association.
As chairman of the State Health Plan Board of Trustees who oversees the State Health Plan, Treasurer Folwell has a keen interest in treating and finding a cure for this most common form of dementia, which diminishes thought, memory and language.
“This is a disease that affects not only those ravaged by its symptoms, but those caring about and caring for them. Dealing with a loved one living with Alzheimer’s takes a physical and emotional toll, and can involve considerable financial costs,” Treasurer Folwell said. “Scientists are making great strides in understanding the disease as they seek a cure. We are fortunate to have organizations like the Alzheimer’s Association working in the trenches daily. Their hard work offers hope of a better tomorrow for those coping with the difficult demands and decisions of today.”
More than 180,000 people are living with Alzheimer’s in North Carolina, and over 356,000 family members and friends are providing care. Nearly 6 million people in the U.S. were living with Alzheimer’s disease in 2020, and the number is expected to rise to 14 million people by 2060, according to the Centers for Disease Control and Prevention. The National Institute on Aging ranks Alzheimer’s as the seventh leading cause of death in the United States.
Denise Young, program manager for the Alzheimer’s Association Mountain Region, who met with Treasurer Folwell, was grateful for the found money.
“We are so appreciative of your efforts in locating these funds for us. These donations help propel us closer to a world without Alzheimer's, and continue our mission to provide services and support to all those touched by this disease,” Young said.
“Every dollar raised benefits those affected by Alzheimer's disease in our community. From face-to-face support to online education programs and promising worldwide research initiatives, the money donated to our mission makes a difference in the lives of all those facing Alzheimer's and all forms of dementia,” Young said.
The Western Carolina Chapter provides patient and family services, information and referral, education, and advocacy in 49 central and western North Carolina counties. It offers opportunities to get involved and to make a difference, in addition to a variety of services including: a 24/7 Helpline, support groups, educational programs and care consultations. For more information about Alzheimer's disease or the Alzheimer's Association — Western Carolina Chapter, visit alz.org/northcarolina or call (800) 272-3900. For the latest news and updates, check Facebook, Twitter and Instagram.
UPD, commonly called NCCash.com, is the repository for 17.7 million properties valued at $1.02 billion under DST’s custody. The money is awaiting return to the rightful owners after being lost, misdirected or overlooked, and more than 19 million owners are associated with those properties. In Buncombe County, there are 399,070 properties valued at $36,601,310 waiting to be claimed.
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/.