Independent cy pres fund administration
We design and run structured grant programs for Attorneys General and plaintiff's counsel, identifying high-impact uses for residual funds that reach the community and make a real difference in people's lives. Our outreach seeks out the organizations doing the most effective work for the injured class, including grassroots groups, and every step is documented.
Figures reflect grants distributed by members of our team since 2003, including engagements with the late Harry M. Snyder.
Who we work with
Parens patriae and multistate settlements often leave funds that must serve the public. We run a transparent, competitive grants program that puts them to work in your communities. Many of the offices we have worked with find the work rewarding, because the funds make a direct difference.
For Attorneys GeneralWhen residual funds cannot reach class members directly, we design a distribution with a clear nexus to the case, backed by a diligent, documented process.
For class counselA disinterested administrator, appointed by the court where required, gives the court a documented record of the process and continuing reports on how every grant dollar is spent.
Our reportingDesigned for impact
Cy pres comes from the Norman French for "as near as possible." A distribution is only as good as its recipients, so our program is structured to find the organizations creating real change in the communities they serve, not simply the best-known names.
For every fund we administer, we run an outreach program built around the nexus to the case. We network extensively with community leaders, funders, public agencies and subject-matter experts to surface the organizations doing the best work for the injured class, including many that might not otherwise learn of a cy pres opportunity.
Harry M. Snyder warned that grants to large national organizations often give the class only "the most diluted benefit." We look beyond familiar names to community-based organizations whose work directly reaches the people who were harmed.
Snyder (2015), p. 13
Each grant funds a defined project with benchmarks. Payments follow progress, and final reports show the Attorney General's office, counsel and the court what every grant accomplished.
Our approach
They come from the best practices Harry M. Snyder published after years of administering cy pres funds, and they remain the standard we work to.
Grants are tied to the facts and law of the underlying litigation and the interests of the silent class members, not simply to worthy causes.
Snyder (2015), p. 13
Comprehensive outreach aims to put the Request for Proposals in front of every organization with a real claim to the funds, and no organization is told in advance that it will be funded.
Snyder (2015), pp. 10, 12
Every applicant inquiry comes to the administrator, which keeps friends, colleagues and special pleaders out of the process.
Snyder (2015), p. 14
Payments follow benchmarks, grants carry non-supplant terms, and reporting continues to the Attorney General's office, counsel and the court until the last grant closes.
Snyder (2015), pp. 11, 13–14
Citations refer to Harry M. Snyder, Establishing Best Practices in the Distribution of Cy Pres Funds (2015).
Read our cy pres best practices[T]he use of a neutral Cy Pres Administrator to guide the process provides objectivity and fairness to the selection of the cy pres recipients.
How it works
With your office or counsel, we define the cy pres purpose and grant criteria, and draft the Request for Proposals.
Comprehensive outreach and extensive networking surface the organizations doing the best work for the injured class, from established institutions to grassroots groups.
Due diligence, financial review, site visits and subject-matter experts inform our Administrator's Report and Recommendations, which sets out the highest-impact uses for the funds.
We execute grant agreements, disburse against benchmarks, review grantee reports, and deliver periodic and final reports.
Our team
Our team's cy pres work began alongside the late Harry M. Snyder in 2003. Since then, our team has distributed over $50 million in grants to more than 150 nonprofits and public agencies.
Managing Member
Worked with Harry M. Snyder from 2003, helping distribute over $50 million in cy pres grants. Leads every engagement.
Grants Administrator
Collaborated with Harry M. Snyder on his two publications on cy pres best practices.
Grants Consultant
Former Deputy Director at the Bill & Melinda Gates Foundation, where she managed a $90 million grant portfolio.
Philanthropic Advisor
CEO of The Health Trust in San Jose, and formerly Senior Vice President at The California Endowment.
Tell us about the case and where it stands.
Or email Matt Iverson-Comelo at matt@cypressettlementfunds.com