Get Free $$$ for Your Bishop’s State Charities’ Fund!
Doug Oldmixon, State Advocate
Cue the Rod Serling “Twilight Zone” voiceover: “Imagine, if you will, a sum of money, forgotten in a dark vault, just waiting to be discovered. Who left it here…and why?
Is it $50, or perhaps $500? Come with me to explore this vast murky realm of unremembered riches; of misplaced money - a place we call “the vault of forgotten funds”. Spooky; huh?
For all the melodramatic introduction and seasonal overtones, such a place actually does exist, at least in Texas. The Texas Comptroller is the final stop for unclaimed funds before they are “escheated” (confiscated) by the state. These unclaimed funds have been reported to the Comptroller, typically by banks and utility companies which have somehow lost touch with the account or deposit owner. As of October 20, 2011 there are 69 entries for accounts with “Knights of Columbus” in the account title that are waiting to be claimed by the rightful owners.
Please check to see if any of the money belongs to your council. If it does, claim it using the form available online. Be prepared to provide the Comptroller with a copy of the Council’s bylaws, tax ID certificate from the IRS, and copies of minutes where the current officers were elected. Financial Secretaries will need to provide a copy of their appointment letter from Supreme.
At least once per year, every council or assembly should go to http://www.claimittexas.org and enter “Knights of Columbus” or similar words to check for “unclaimed funds”. When you find it, claim it and dedicate it to your council’s Charity Fund. Since it is “free” money, this is the most appropriate use. (restart music) “If the vault of forgotten funds ever reveals its secrets to you, ensure you do not abuse its generosity…lest it close its doors forever…and leave you…in the Twilight Zone.”