S.C. Treasurer Curtis Loftis Presents Unclaimed Funds to Edgar T. Cato Foundation
January 27, 2020
State Treasurer Curtis Loftis recently presented Miss Christine Cato of Aiken with more than $462,000 for the Edgar T. Cato Foundation. The unclaimed funds were proceeds from stocks that Mr. Cato had purchased back in the late 2000s.
“I love returning unclaimed property to people across South Carolina, and the funds presented to the Cato family on behalf of their late father’s foundation will continue to support community projects and causes that were near and dear to his heart,” Treasurer Loftis said.
Cato said her father, who co-founded the Cato Fashions business in 1946 with her uncle and grandfather, was passionate about flying, sailing, traveling to new places and nature preservation. The Edgar T. Cato Foundation has supported a number of worthwhile causes in the Carolinas, including the College of Charleston’s sailing club and Aiken’s Hitchcock Woods nature preserve.
Currently, the State Treasurer’s Office has more than $650 million in unclaimed property across the state. Millions of dollars are transferred to the program annually by companies that cannot locate the owners. The State Treasurer’s Office acts as custodian of those funds until the rightful owners can be located.
Treasurer Loftis encourages everyone to check the State Treasurer's Office website at treasurer.sc.gov to see if there is any unclaimed property for you or your family.