RIVERWOODS — Illinois State Treasurer Michael Frerichs today returned nearly $19,000 in unclaimed property to Orphans of the Storm animal shelter in Riverwoods, Illinois. More than $14,800 were proceeds of a life insurance policy for Gladys O’Brien of Rolling Meadows, who passed away in 2006 and named Orphans of the Storm as the beneficiary. O’Brien, who was 83 at the time of her death, was a secretary at Ford Motor Company. An additional $4,100 in other unclaimed funds also was returned to the non-profit organization from the Illinois Treasurer’s Unclaimed Property Program.
“We are proud to play a small part in making sure that the intended beneficiary of this estate received this money to help carry out their mission to help provide animals with a loving home,” Frerichs said. “We encourage all Illinois residents, non-profits, and businesses to check our to them.” “I am thrilled to partner with Treasurer Frerichs to secure funds for these great organizations that do so much to care for animals in our community,” said State Representative Daniel Didech.
“The Treasurer’s ICash program is an invaluable service for the people of Illinois — residents of the 59th district should not hesitate to contact my office for assistance searching for funds that may be available to them through ICash.” Orphans of the Storm is one of thousands of examples of the Illinois Treasurer’s Office returning unclaimed cash and property to its rightful owners. In Fiscal Year 2019, which is July 1, 2018 to June 30, 2019, the treasurer’s office fulfilled approximately 236,000 claims worth more than $239 million. By comparison, approximately 116,000 claims were fulfilled in Fiscal Year 2018 ($180 million returned), 58,000 claims in Fiscal Year 2017 ($159 million returned), and 53,000 claims in Fiscal Year 2016 ($155 million returned).
“Orphans is very excited and appreciative of these donations and they will be put to great use to enrich the lives of the animals in our care,” Orphans of the Storm Administrator Rick Alexander said. “Some of the funds will be used to modernize our open plan cat room, giving kitties vertical space to explore and play, while some funds will also be used towards enrichment programs for our dogs.” In Illinois, the state treasurer is tasked with safeguarding unclaimed property, such as unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. Illinois holds more than $3 billion in unclaimed property. The state treasurer is legally required to return the property to the rightful owners no matter how long it takes. Individuals can search the state treasurer’s database for their name or the name of their business or non-profit at twice each year, Frerichs encourages individuals to search the database twice each year.
About Orphans of the Storm To take responsibility for each and every orphaned, abandoned, abused or neglected dog and cat which reaches our doors; to take them in and shelter them; to provide the best medical and physical care possible for them; to nurture them back to health if need be; and finally to place them into warm, loving, adoptive homes where they can enjoy the lives they deserve. Orphans of the Storm was founded in 1928.
About the Illinois Treasurer As Illinois State Treasurer, Frerichs is the state’s Chief Investment and Banking Officer and actively manages approximately $31 billion. The portfolio includes $13 billion in state funds, $12 billion in college savings plans and $6 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of capital and returns $42 to the state for every $1 spent in operations. Frerichs’ office protects consumers by safeguarding more than $3 billion in unclaimed property, encouraging savings plans for college or trade school, increasing financial education among all ages, assisting people with disabilities save without losing government benefits, and removing barriers to a secure retirement. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.
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