What are cy pres awards?

Cy pres awards are final surplus funds in class-action cases, and sometimes other types of court proceedings, that for any number of reasons cannot be distributed to class members or beneficiaries who were the intended recipients. Cy pres distribution of surplus funds is utilized when it has become difficult or impossible to identify those to whom damages should be assigned or distributed. In these instances, the court may authorize a cy pres distribution to appropriate charitable organizations. The trust doctrine of cy pres and the courts’ broad equitable powers permit use of such funds for public interest purposes by educational, charitable and other public service organizations. Cy pres funds may be used to support current programs or, where appropriate, to constitute an endowment and source of future income for long-range programs that can be used in conjunction with other contemporaneously raised funds.

Why Consider the Oklahoma Bar Foundation for Cy Pres Awards

The OBF’s mission of “Advancing education, citizenship and justice for all” makes it a perfect match for class-action cy pres awards, as the underlying premise for class actions is to make access to justice a reality for “the little guy” who otherwise would not be able to obtain the protection of our court system.

Through the OBF’s comprehensive grant award process, applicants and a panel of diverse individuals with a wide range of interests and expertise come together to strategically and objectively allocate resources to support dozens of outstanding law-related programs and initiatives, making OBF an attractive charitable investment choice for cy pres awards.

The OBF has the flexibility of using cy pres awards to expand its comprehensive program or to target funds toward specific access to justice projects and initiatives. Moreover, OBF’s mission of advancing education, citizenship and justice for all is as American as apple pie. Corporate and institutional defendants involved in class-action litigation need not be concerned about cy pres funds going to a party that is possibly antagonistic to their corporate or business interests.

The OBF is a proven organization that has been helping people for the past 60 years. OBF holds an important place in public interest law and in the philanthropic community with diverse stakeholders that work to address legal aid needs and eliminate systemic barriers to access to justice.

OBF CAN DO MORE WITH CY PRES AWARDS

Over the past year, the Oklahoma Bar Foundation has been fortunate to receive some generous cy pres awards. These cy pres awards are key components for growth and outreach of OBF’s charitable mission and will enable the OBF to provide for increases in overall grant awards and the capacity for new initiatives. Cy pres awards to the Oklahoma Bar Foundation can and will make a tremendous difference benefiting law-related programs throughout Oklahoma. Please contact Nancy Norsworthy at (405) 416-7070 or nancyn @okbar.org to have a member of the Foundation Board of Trustees discuss specifics with you.

WHAT WE DO

The Oklahoma Bar Foundation is the charity of choice for Oklahoma attorneys. The OBF provides Oklahomans, and Oklahoma lawyers in particular, with a convenient one-stop method of supporting many different law-related nonprofit organizations. By providing more than $6.6 million in grant award assistance, the OBF works to improve access to justice throughout our state. OBF invests in organizations and initiatives that have proven to be effective in providing quality legal assistance to less fortunate citizens.

Specifically, OBF carries out its mission of:

… Advancing education, citizenship and justice for all through our support of:

• The delivery of legal aid services for lower income citizens in all 77 counties
• Programs that educate Oklahoma school children about the American system of justice and the rule of law
• Children’s legal aid services and child advocacy programs
• Victims’ programs and projects
• Legal resource projects and educational programs for our more senior citizens
• Promotion of broader community support for access to justice through ancillary support of court projects and public education and awareness programs

WHO WE ARE

The Oklahoma Bar Foundation is a Section 501(c)(3) organization that works to improve access to justice for people in our state who are impacted by poverty, abuse and discrimination. Incorporated in 1949, OBF is the third-oldest state bar foundation in the United States, an achievement that all Oklahoma attorneys can be proud of. All lawyers duly licensed to practice law in Oklahoma are members and can become Fellows through annual contributions of only $100 over a 10-year period. Fellow contributions, IOLTA trust account revenues, earnings on investments, planned gifts, income from other sources, and now –– cy pres awards, have enabled the OBF to invest more than $6 million in law-related charitable projects over the past 20 years.

The OBF mission recognizes that access to justice is central to our democratic society and that the legal community has an obligation to be a leader in making our justice system accessible for the less fortunate. The OBF provides concerned professionals with an opportunity to come together in a concerted effort of support that can make an important difference in the lives of many.

OTHER WAYS YOU CAN HELP

Attorneys and others interested parties can help to provide services across Oklahoma through membership in the OBF Fellows program and other general contributions. Join with Oklahoma attorneys and help us to make a real improvement in the lives of others.