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State Holding Funds for Nonprofit Organizations

Posted By Matthew Mullenix, Louisiana Association of Nonprofit Organizations, Sunday, March 10, 2013

Posted by LANO as a member service on behalf of:

Amber King, Louisiana Department of the Treasury, 225-219-9384

The Louisiana Treasury holds $517 million in Unclaimed Property waiting to be claimed by nonprofit organizations, residents, schools and businesses.

If you work for a nonprofit organization, volunteer for a charity, or just want to support your community, there is one quick task you can do to help: Search the Louisiana Unclaimed Property database to see if there is money out there waiting for your favorite cause.

Nonprofit groups have many ties to the community which gives them a higher potential for funds to get misplaced. A simple error in a mailing address can send funds owed to a nonprofit back to the sender as undeliverable. If the funds are not claimed within the State of Louisiana’s required holding period, the money is turned over to the Louisiana Treasury.

Lost checks could come from any source, like a fundraiser banquet facility deposit, a vendor refund, rebates, insurance proceeds, or a donation willed to a charity.

The Louisiana Treasury is currently holding $517 million in Unclaimed Property that is waiting to be claimed by Louisiana nonprofit organizations, residents, schools and businesses. Throughout the year, the Unclaimed Property Program collects lost funds from businesses and agencies nationwide and holds them indefinitely in the Treasury.

State Treasurer John Kennedy urges you to search the Unclaimed Property database periodically for local nonprofit organizations, your friends, family and yourself.

You can search variations of names and addresses in the Unclaimed Property online database 24 hours a day at www.LATreasury.com.

If you find holdings for yourself, simply fill out and submit the online claim form, or call toll-free 1-888-925-4127 weekdays between 8:00 a.m. and 4:30 p.m. for personalized assistance with your claim.

A claim for a nonprofit organization can be made following the same procedures by someone in the organization with authority to act on their behalf. There is never a charge for this service!

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