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Alcorn receives $20,000 in unclaimed property from the State Treasurer

Alcorn State University has received additional funding to be used for the progress of the University.

Mississippi State Treasurer David McRae visited the University Thursday, Sept. 24, to return $20,000 in unclaimed property during a check presentation in the Office of the President.

Unclaimed property is turned over to the state when banks, credit unions, and even retail stores cannot find the rightful owner. After five years, financial institutions turn that money over to the state, and the Treasury's Unclaimed Property Division is charged with finding the owner and returning the money.

Alcorn President Felecia M. Nave thanked McRae and his staff for presenting the funds to the University. Nave said that the money would be beneficial for the University.

“We appreciate the state treasurer for presenting us with these funds,” said Nave. “Like other institutions of higher learning, Alcorn strives to find ways to acquire finances to better our beloved University and provide a quality college experience for our students. Receiving this check assures our ability to utilize the money on much-needed areas of improvement at the University.”

McRae expressed pride in returning the funds back to the University.

“Alcorn State University has provided a remarkable educational experience to Mississippians for nearly 150 years,” said McRae. “I am proud to return this $20,000 to its rightful owners today and am grateful it will be put to work to further enhance the college experience for their students.”

Marcus Ward, vice president for Institutional Advancement and executive director for the ASU Foundation, Inc., credits his staff for successfully collaborating with the State Treasurer’s office to receive the funds.

“The Office of Institutional Advancement is happy to have played a small part in connecting the University with the Mississippi State Treasurer’s office to process returning these much-needed funds to Alcorn,” said Ward.