California Owes Motion Picture Home $24,000 In Forgotten Funds; In Desperate Time, Lot Of Money For The Taking Needs Only To Be Claimed By Hollywood
EXCLUSIVE: At a time when each phase of our business is fighting layoffs and furloughs due to the coronavirus pandemic, the $9.Three billion owed to many that’s simply sitting there in a California state Unclaimed Property fund may properly come in useful.
The state of California owes the Movement Image & Tv Fund $24,025 – cash the MPTF may sorely use proper now in its efforts to offer help to the business’s all of a sudden unemployed workforce, whereas itself coping with the primary COVID-19 outbreak at its expert nursing facility in Woodland Hills.
The cash owed is a part of the State Controller’s $9.Three billion Unclaimed Property fund, which incorporates some 48 million separate accounts. The cash held in additional than 100 MPTF accounts contains forgotten checks, financial savings accounts, dividends, accounts payable, and commissions that had been turned over to the state after sitting idle in banks for greater than three years. The eight largest MPTF accounts maintain greater than $16,000.
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COPYRIGHT_BP: Published on https://bingepost.com/california-owes-motion-picture-home-24000-in-forgotten-funds-in-desperate-time-lot-of-money-for-the-taking-needs-only-to-be-claimed-by-hollywood/82230/ by Cecilia Jones on 2020-04-01T23:21:42.000Z
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“The Controller is safeguarding tens of millions of unclaimed properties for Californians,” Jennifer Hanson, press secretary to State Controller Betty Yee, instructed Deadline. “From an account that sat dormant for too lengthy, to a last paycheck that by no means received picked up, folks ought to examine to see if any of these properties belong to them. In difficult instances, even a small discover may make an enormous distinction.”
As a result of accounts may be unfold out over numerous – and sometimes incorrect – variations of a enterprise’ title, they are often tough to find on the Controller’s searchable database. The MPTF’s unclaimed funds are listed underneath 13 completely different permutations of the Movement Image & Tv Fund, together with these with and with out the ampersand, and one underneath MPRF – the acronym for the Movement Image Reduction Fund, which was the title of the fund when it was based in 1921.
“Now we have property-owner advocates to assist teams find a number of properties,” Hanson stated. “They’re right here to assist.”
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Companies can get help finding and making use of for unclaimed funds here.
Lots of the business’s different charities and non-profits even have cash sitting within the Unclaimed Property fund as properly, gathering mud – and no curiosity. Amongst them:
• Woman Gaga’s Born This Approach Basis has an uncashed cashier’s examine for $1,000• The Christopher & Dana Reeve Basis (misidentified within the searchable database because the Christopher Reeve Paralysis Basis) is owed $2,702 in dividends• The Sundance Institute has $5,000 in accounts receivable• Ladies In Movie is owed greater than $4,000• The Leisure Business Basis is owed $3,000• The NAACP Picture Awards is owed $2,500• The Mary Pickford Basis is owed $1,500• The American Movie Institute is owed $1,350• The Actors Fund is owed $228• The Hollywood Chamber of Commerce is owed $750• The Movement Image Affiliation is owed $5,400• The Tv Academy is owed greater than $1,000• The Academy of Movement Footage Arts and Sciences is owed greater than $1,600
Lots of Hollywood’s guilds and unions are additionally owed cash that they may use now as they provide dues reduction to their members through the business’s coronavirus shutdown.
SAG-AFTRA is owed greater than $100,000, together with an uncashed cashier’s examine for $26,139. The union’s pension and well being plans are owed greater than $5,000. SAG-AFTRA has greater than 300 accounts, however none underneath the title SAG-AFTRA. They’re both listed as SAG, or AFTRA, or SAGAFTRA with out the hyphen, or the Display screen Actors Guild.
To get an concept of how lengthy a few of this cash has gone unclaimed, the long-defunct Display screen Extras Guild, which the previous Display screen Actors Guild absorbed in 1992, continues to be owed $2,088 – cash that now rightfully belongs to SAG-AFTRA and its members. And the pre-merger AFTRA pension and welfare fund continues to be owed greater than $5,000. AFTRA and SAG merged in 2012.
Different business unions owed cash embody:
• WGA, greater than $30,000• American Federation of Musicians, greater than $8,000• DGA, greater than $5,000• Actors’ Fairness, $700
Numerous IATSE locals even have cash coming to them. The Welfare Belief Fund of IATSE Native 857 – representing Los Angeles’ treasurers and ticket sellers – is owed $2,586. IATSE Native 16 in San Francisco has an account with $3,033 in it; one other with $1,200, and its well being and welfare fund is owed $1,500.
Right here in L.A., Stagehands Native 33’s pension plan has a $1,076 court docket settlement that it hasn’t picked up for no less than three years. The IATSE Nationwide Well being & Welfare Fund has 4 accounts totaling $1,576.
The networks, studios and main expertise businesses are all owed cash as properly. Deadline discovered $8,500 in a single Walt Disney Firm account, and $7,000 in one other. Disney has greater than 100 separate accounts – some for as little as 2 cents, however many with a whole bunch and 1000’s of {dollars} in them. UTA has $12,000 in uncashed vendor checks, and an unredeemed $900 cashier’s examine.
Sony Footage Leisure has about 50 accounts, principally small, however one containing 623 shares of Trans World Leisure, which has been sitting unredeemed for no less than three years. Three years in the past, the inventory was price $21,182 at $34 a share. As we speak they’re price 1/10th of that at $3.40 a share.
Main charitable organizations and non-profits like UNICEF, Medical doctors With out Borders, World Imaginative and prescient, Catholic Reduction Providers, the United Approach, March of Dimes, the Metropolis of Hope, GLADD, Deliberate Parenthood, the American Purple Cross, Shriners Hospitals for Youngsters, Habitat for Humanity, and the Pure Sources Protection Council are owed tens of 1000’s of {dollars} that in these historic instances may very well be put to good use.
The state can be holding cash for tens of millions of people: there are 308,682 separate accounts only for folks named Smith. Most are in small quantities – some solely pennies – leftover refunds and the like. This reporter is owed $40, however the Controller’s workplace is holding a $10,000 cashier’s examine for director Steven Spielberg.
Click on here to see if the Controller is holding cash in your title.
