What Kelmar Associates does

Kelmar Associates, LLC is a privately held management consulting and government-technology firm founded in October 2001 and headquartered in Wakefield, Massachusetts, with additional offices in Wilmington, Delaware and Rockland, Massachusetts. The company focuses exclusively on U.S. state, provincial, and local government unclaimed property programs, providing a vertically integrated offering that combines proprietary Software-as-a-Service (the KAPS® unclaimed property management system), purpose-built modules (State Website Solution, Manual Online Reporting, the Kelmar Fraud Index for AI-based claim risk profiling, STACS for compliance analytics, and Data Match Services for proactive owner outreach), and a full stack of professional and operational services including claims processing, call center management, securities custody (in partnership with Wells Fargo Advisors), holder reporting, 1099 reporting, examination services, and program consulting. A defining capability is hosting MissingMoney.com, the only NAUPA-endorsed state-sponsored national unclaimed property search website, currently connecting 53 government programs across the United States and Alberta, Canada.

Kelmar's go-to-market is enterprise field sales directed at state unclaimed property administrators, procurement officers, and treasurers, executed through industry conferences (NAST, NAUPA, NIPF), thought-leadership content, formal consultation and demo requests, and multi-year government contracts. Pricing is not publicly disclosed and is negotiated through individual state procurement processes. Revenue is generated across managed services, professional services, and SaaS streams bundled into integrated program engagements. The company has grown to 200+ full-time employees, comprising 17 former state employees, 2 former Big Four National Practice Leaders for Unclaimed Property, and other credentialed domain experts, with multiple executives recognized through NAUPA and NAST lifetime achievement awards.

The firm is self-funded, organically grown since inception with no external venture capital, private equity, or acquisition activity, and remains under the leadership of founder Mark S. McQuillen. Kelmar maintains SOC 1 Type 2 and SOC 2 Type 2 compliance, ISO 27001:2022 certification (audited by A-LIGN), and GovRAMP Authorization (achieved 2024 after joining in 2022), positioning it for security-sensitive state and local government procurements. The business model is intentionally narrow by design, focused on a single regulatory vertical where switching costs, regulatory authorship, and talent concentration create durable barriers to entry.

Name

Kelmar Associates

Legal name

Kelmar Associates, LLC

Website

https://kelmarassoc.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

Kelmar Associates provides proprietary SaaS and professional services exclusively to U.S. state and provincial government unclaimed property programs, including the KAPS® management system and the NAUPA-endorsed MissingMoney.com national search portal serving 53 government programs.

Ownership category

akta.pro rank

Product category

Government Unclaimed Property Management Software and Services

NAICS

Legal Services (5411), All Other Legal Services (541199)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Collections, Arrears Management & Debt Enforcement (BPAIADAD)

akta.pro secondary industry

Privacy, Data Protection & Cyber Governance (GRC) (BPAHAFAF)

Keywords

• Unclaimed property management
• Government compliance services
• Property management software
• Compliance examination services
• Holder reporting services

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Government Unclaimed Property Technology Solutions: Kelmar provides full-service government unclaimed property solutions including technology integration, risk management, compliance support, and operational best practices. Revenue is generated through contracts with government unclaimed property programs for software (KAPS), implementation services, and ongoing support.
2. Compliance and Examination Services: Professional services including unclaimed property examination services, examination of holders for general ledger and securities properties, and compliance training for state auditors and holder communities.
3. Process Management and Support Services: Scalable operational support including holder report processing, claims processing, call center management, securities processing, owner outreach, 1099 reporting, and custody services for government unclaimed property programs.
4. Training and Consultation Services: Educational training sessions for program staff members and unclaimed property auditors as well as consultation on operational best practices, strategies to address industry trends, and white papers on legislative initiatives.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Kelmar Associates, LLC provides full-service government unclaimed property solutions, including the proprietary KAPS® SaaS management system, compliance examination and STACS analytics, process management support (claims processing, call center, holder reporting, securities reconciliation, 1099 reporting, custody), and program consulting and training services. These offerings are sold exclusively through multi-year contracts with state, provincial, and local government unclaimed property programs in the United States and Canada.

Product overview

Kelmar Associates offers a unified platform-plus-modules architecture centered on KAPS®, a proprietary Software as a Service unclaimed property management system. The core KAPS® platform provides end-to-end unclaimed property process management, which integrates with the State Website Solution (SWS) for public-facing portals, Manual Online Reporting (MOR) for small holders, LexisNexis® for identity verification, and the Kelmar Fraud Index (KFI) for fraud detection. Additional integrated modules include STACS for compliance analytics and Kelmar Data Match Services for proactive owner outreach. Beyond technology, Kelmar provides comprehensive professional services including custody services (via Wells Fargo Advisors), claims processing, call center management, holder reporting, securities reconciliation, 1099 reporting, examination services, training, and program consulting.

Differentiator

Problem solved

Functional benefit

Brands

• KAPS®: Proprietary Software as a Service unclaimed property management system developed specifically for government unclaimed property programs, providing functionality for program management including report loading, receipts management, and claims processing.
• KFI (Kelmar Fraud Index)
• STACS (State Targeted Assisted Compliance System)
• MissingMoney.com
• Kelmar Data Match Services
• State Website Solution (SWS)

Products and services

• KAPS® (Kelmar Asset Processing System) Proprietary Software as a Service unclaimed property management system providing complete on-screen capabilities to manage the entire unclaimed property process from initial loading of reports and receipts to ultimate payment of successful claims; contracted by 44 government unclaimed property programs with a 100% on-time and on-budget implementation success rate.
• MissingMoney.com The only state-sponsored, national unclaimed property search website endorsed by the National Association of Unclaimed Property Administrators (NAUPA), serving as a central repository of abandoned property records for 53 participating government programs across the United States and Alberta, Canada.
• Custody Services Custody services for government unclaimed property programs to manage unclaimed securities portfolios, delivered in partnership with Wells Fargo Advisors as trusted custodian; includes research, transfers, sales, and balance maintenance with KAPS® integration.
• Claims Processing Comprehensive claims services ranging from processing overflow claims during peak periods to complete claims outsourcing solutions for government unclaimed property programs.
• Call Center Services State-of-the-art, cloud-based call center handling incoming calls and inquiries from claimants with centralized service and support; achieves a 98% caller satisfaction rate and processes 30,000+ calls per month with 6-second average speed to answer.
• Holder Reporting Services Review and processing of holder reports with the ability to clean up backlogs and achieve processing of all reports within two weeks during holder reporting season.
• Securities Reconciliation Services Assistance to ensure securities portfolios are up to date, using an investigative approach combined with knowledge of historic corporate actions for government unclaimed property programs.
• 1099 Reporting Services Management of the entire 1099 filing process for claimants requiring reporting, including TIN validation, preparation, mailing, and electronic filing with the IRS.
• Examination Services Professional examination services to identify, examine, and collect general ledger and securities unclaimed property liabilities attributed to holders on behalf of government programs.
• Training Programs Educational training services for government unclaimed property program staff members, state auditors, other program officials, and holder communities.
• Consultation Services Consultation on operational best practices, strategies to address industry trends, and application of relevant laws governing unclaimed property for government program administrators.

Quantifiable outcome

• 3+ billion dollars returned to rightful owners through MissingMoney.com in the last year
• +8 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and strategic.

• Wells Fargo AdvisorscoreStrategic or Co-development PartnerKelmar has established a partnership with Wells Fargo Advisors as a trusted custodian to fully manage unclaimed securities portfolios for government unclaimed property programs. Kelmar's staff members have years of unclaimed securities knowledge and expertise to help with research, transfers, sales, and maintaining balance between a program's custodial account and the KAPS unclaimed property management system.
• National Association of Unclaimed Property Administrators (NAUPA)coreOthersNAUPA is the industry association for state unclaimed property administrators. MissingMoney.com is the only state-sponsored, national unclaimed property search website endorsed by NAUPA. Kelmar hosts MissingMoney.com and actively participates in NAUPA conferences and committees.
• 53 Government Unclaimed Property ProgramscoreOthers53 government unclaimed property programs across the United States as well as Alberta, Canada participate in MissingMoney.com to help owners recover financial assets.
• 44 Government Unclaimed Property ProgramscoreOthersKelmar contracts with 44 government unclaimed property programs for the KAPS unclaimed property management system, representing 100% implementation success rate on time and on budget.
• LexisNexisstrategicTechnology or IntegrationKAPS integrates with LexisNexis Instant Verify and LexID identification authentication services, allowing government unclaimed property programs to automate and fast track claims while minimizing fraud through automated data verification.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Avalara: Avalara is a broad tax compliance SaaS incumbent serving enterprises and government agencies with sales tax, VAT, and related solutions. Comparable to Kelmar in serving government tax-administration workflows, but operates at much larger scale across a broader tax surface.
• Sovos: Sovos is a global tax compliance SaaS platform serving multinational corporations and governments. While Sovos does not focus specifically on unclaimed property, it competes for adjacent state-government compliance budgets and represents a potential consolidator of niche compliance vendors like Kelmar.
• Corporation Service Company (CSC): CSC provides corporate compliance, registered agent, and entity management services to corporations and governments, with adjacent offerings in unclaimed property owner outreach and reporting. A broader incumbent in the corporate-services and compliance space.
• Thomson Reuters: Thomson Reuters provides tax research, compliance, and regulatory software to government and corporate customers, with some overlap into unclaimed property and escheatment workflows. A large incumbent with comparable government-facing compliance technology offerings.
• Wolters Kluwer Tax & Accounting: Wolters Kluwer's Tax & Accounting division offers compliance and regulatory software to governments and accounting firms, with overlap into state unclaimed property and tax administration. A broader incumbent in the same regulatory technology category.
• Bloomberg Tax & Accounting: Bloomberg Tax provides tax research, technology, and compliance tools used by state government tax agencies and practitioners. While not a direct unclaimed property vendor, it overlaps as a broader tax-administration technology provider competing for similar state-agency budgets.

Direct peers

• Ryan, LLC: Ryan is a global tax services and technology firm with a dedicated Unclaimed Property practice that competes directly with Kelmar's compliance examination and consulting services. Several Kelmar directors previously worked at Ryan, confirming active competition for state program work.
• Avenu: Avenu (formerly Xerox/ACS Unclaimed Property Clearinghouse) is the most direct competitor to Kelmar in government unclaimed property technology, compliance examinations, and operations support. Multiple Kelmar senior executives (including the COO and CTO) previously worked at the ACS predecessor, illustrating direct head-to-head competition for state contracts.
• Kroll (formerly Duff & Phelps): Kroll's Tax Services practice (originating from Duff & Phelps) provides unclaimed property advisory, valuation, and compliance examination services to state governments and holders, overlapping directly with Kelmar's compliance and securities-examination service lines.

Regional players

• TMF Group: TMF Group is a global corporate services provider with regulatory compliance offerings including unclaimed property services in European and APAC markets. Comparable to Kelmar in service model, but primarily serves non-US geographies and is therefore a regional rather than direct peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kelmar-associates

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kelmar Associates