Starting off the New Year with extra money could help make it a “Happy New Year” for many people. Charities might consider making it an annual ritual to check the state’s listing of unclaimed funds each January to see if there might be monies waiting to be claimed by the organization.
The Ohio Department of Commerce’s Division of Unclaimed Funds has a database that lists the names of individuals and companies that may be entitled to funds that have been submitted to the division.
These funds might come from insurance policies, uncashed checks, deposits, or other transactions. If there is no activity in the account for a period of time and the company cannot reach the account owner, the funds are reported to the division, which works to track down the rightful owner.
There is a simple search function on the division’s website where the names of individuals and organizations can be entered. Simply type in the name of your charity to see if there may be funds your group might be entitled to. You also can encourage your staff, volunteers, and clients to search the database to determine if they might have funds awaiting them.
Visit the division’s webpage at http://com.ohio.gov/unfd for directions on searching the database, as well as the procedures for making a claim for funds the division holds.