Press Release Archive

Wednesday, February 10, 2016 2:48:53 PM
Treasurer presents funds to scouts, Special Olympics

CHARLESTON – State Treasurer John Perdue presented Wednesday unclaimed property checks worth $17,000 to Girls Scouts of Black Diamond and Special Olympics of West Virginia.

Treasurer Perdue presented the Girl Scouts a check for $9,729.16 and Special Olympics $7.373.43 during the ceremony.

 “We’ve made a special push here of late to reunite non-profit organizations with their funds,” Treasurer Perdue said. “Not because they inherently rate more priority than other rightful owners but due to their broad reach in the community. Who could hope to guess how many Mountain State youth have been touched by these organizations?”

Girl Scouts Alicea Lambert, Bridgette Lambert and Katlyn Lambert show off to Treasurer Perdue the many badges they've earned.
In both groups’ cases, the largest source of the unclaimed property seemed to be checking accounts started by local chapters around the state and then abandoned. Unclaimed property is any asset from which an individual has become separated, such as a forgotten utility deposit; forgotten checking accounts; abandoned safe deposit boxes; and liquidated stock shares.

 

Companies holding such assets are required by law to turn them over to the State Treasury after a certain dormancy period. 

Special Olympian Tommy Chapman holds a million dollars, shredded by the federal reserve.

 

Special Olympics of West Virginia Chief Executive Director John Corbett said his organization typically stages five large athletic events a year. The competitions aren’t small. A March basketball tournament will include 32 basketball teams and 18 cheerleading squads.

“They’re multi-day events,” said Corbett, whose organization serves as the umbrella group for smaller Special Olympics chapters. “We have to pay for housing, to purchase medals, insurance, food and sports equipment. This money will help.

“I was very impressed with the Treasurer’s Office. Someone there brought it to my attention. The follow-up was quick and on target. So today was our pleasure to participate in this gathering in the Treasurer’s Office, as a way to say thanks for the support we received.”


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Charleston, West Virginia 25305
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