Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that Treasury will donate physical property held within the Bureau of Unclaimed Property vault to local charities. Items to include gift cards, video gaming devices, laptops, and household items with a total estimated value of $35,000.
"The holiday season is a time to give to those that are less fortunate, and to help where we are able to. Under Pennsylvania unclaimed property law, Treasury has the ability to donate unclaimed property that would be cost prohibitive to auction. This presents a great opportunity to help those within the community by donating these items to local charities to directly impact the lives of men, women, children, veterans, and animals."
Pennsylvania Treasurer, Joe Torsella
Unclaimed property is any financial asset that has gone unclaimed for a period of time, usually three years. Under Pennsylvania law, businesses are required to report this to Treasury. Each year, Treasury receives millions of dollars in unclaimed property – items such as abandoned bank accounts, forgotten stocks, uncashed checks and contents of safety deposit boxes. The property remains available for claim by the owners or their heirs in perpetuity and Treasury serves as the custodian until it can find and verify its rightful legal owner.
Pennsylvania Unclaimed Property law also outlines the disposition of property, and under this act, Treasury has the ability to determine if it is more appropriate to sell or donate physical property received by Treasury’s Bureau of Unclaimed Property. Treasury has determined that the cost associated with delivery, notice or sale exceed the value of these items however, they still provide a significant value to local charities in need.
Treasury identified the items for donation by seeking property with an “unknown” owner that has been held in the vault for several years.
Donated items will go to the following charities: Beauty after Bruises; Bethesda Mission; Caitlin’s Smiles; Gaudenzia Treatment Center; Heart and Hands; Leg Up Farm; PAWS; Ronald McDonald House; United Cerebral Palsy of Central PA; and the YWCA.
To see if you have unclaimed property, search Treasury’s website, or Treasury’s Bureau of Unclaimed Property is also available toll-free at 1-800-222-2046, to help conduct a thorough search for unclaimed property.