Treasurer returns $40K in unclaimed cash to Salvation Army

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CHICAGO — The Illinois treasurer’s office returned nearly $40,000 to the Salvation Army in Chicago, officials announced this week.

The money comes from a program the office oversees that helps return unclaimed property or cash. The money for the Salvation Army comes from the estate of a man who passed away in 1999. He had named the non-profit group as a beneficiary, Treasurer Michael Frerich’s office said.

The office has over $3 billion waiting to be claimed, according to Frerichs.

His office fulfilled about 236,000 claims worth more than $239 million in the fiscal year that ended in June 2019. In the previous fiscal year, there were about 116,000 claims and $180 million returned.

Frerichs has encouraged people to check the state’s website to check for unclaimed property, which includes insurance policy proceeds, lost bank accounts and safe deposit boxes that have been forgotten. Private entities surrender the items after trying for at least five years to locate the owners.

“This holiday season is a perfect time to make a list and check it twice to see if you have unclaimed cash or property,” Frerichs said in a statement.

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