Mass. holds $4B in public’s lost money; why is it keeping more than it returns?

More than 25 years ago, a $20,000 check from the state to the New North Citizens’ Council, a community nonprofit, went uncashed.

Time passed. The money became part of the state’s unclaimed property division, a department that’s like the island of misfit toys of money, taking in orphaned funds from banks and other entities and holding them until they are claimed.

“Find Your Unclaimed Property Now!” declares the state’s public online portal, FindMassMoney.gov . The site allows the public to look through a massive dataset to see if the state holds lost property in their name.