Our process
Ten steps, each one on the record.
From the first draft of the Request for Proposals to the final report, every step is documented, and every step serves one purpose: putting residual funds where they will make a real difference for the injured class.
Phase 1
Design
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Draft the RFP
We work with the stakeholders to draft a framework that gives the injured class an indirect benefit with a nexus to the facts and law of the case. We make sure the Request for Proposals is accessible to potential grantees, and work with distribution partners to circulate it to diverse communities and organizations.
Phase 2
Reach
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Conduct outreach
We run a comprehensive outreach program for each fund. Alongside events, paid placement and distribution partners, 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 grassroots groups that would not otherwise hear about the opportunity. The aim is a strong field of high-quality applications and real choices about where the funds will do the most good.
Phase 3
Evaluate
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Review applications
We conduct due diligence and a financial review of each applicant, including site visits and interviews with the people responsible for the proposed project.
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Engage experts
Subject-matter experts who understand the nexus to the case assess the feasibility of specific projects and types of projects.
Phase 4
Recommend
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Prepare reports and recommendations
Our Cy Pres Fund Administrator's Report and Recommendations details the applications received and sets out several high-impact funding options based on our due diligence.
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Assist with approval
We support the approval of the recommended grants, including documentation of the grant-making process for the court where approval is required. Where the court requires it, we serve as the court-appointed fund administrator.
Phase 5
Grant and account
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Execute grant agreements
As fund administrator, we negotiate, draft and execute grant agreements with each grantee, including the terms that keep the funds restricted to their cy pres purpose.
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Disburse grantee payments
Once agreements are in place, we request, document and disburse grantee payments according to their terms.
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Review grantee reports
We review grantees' status reports, request more information where needed, and release further payments as grantees meet their commitments.
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Disburse final funds and report
We handle final disbursements and periodic reporting, ending with a Final Report to the Attorney General's office or counsel and, where required, the court, detailing the status of every funded project.
What you receive
A complete record, from framework to final report.
Each document is written to be read by the office or counsel that retained us, and by a court reviewing the distribution.
There is no out-of-pocket cost to your office or your firm. Our fee is a percentage of the distribution, agreed up front and set out in the plan, and it covers the full program, including subject-matter experts.
- Grant framework and Request for Proposals
- Outreach plan and distribution record
- Due diligence and financial review files
- Cy Pres Fund Administrator's Report and Recommendations
- Documentation of the grant-making process
- Executed grant agreements with restricted-use and non-supplant terms
- Payment records tied to grantee benchmarks
- Periodic reports and a Final Report on every funded project
Our role
A disinterested third party, protecting the process.
We have no stake in which organizations are funded. We run the process at arm's length from the parties, document every step, and serve as the court-appointed fund administrator where required, so that residual funds reach the organizations best placed to benefit the injured class.
Start with a conversation about the case.
Tell us where the settlement stands and what residual funds are expected.
Or email Matt Iverson-Comelo at matt@cypressettlementfunds.com