What is a “cy pres” award?
The term "cy pres" comes from a French term meaning "as near as possible.” Cy pres awards are given to charitable organizations and are delegated when residual funds are remaining from unclaimed settlements or when it is impractical to distribute funds to a large number of funds to each individual class member after a case.
Why include VLI as a recipient of cy pres funds?
VLI meets all the requirements both state and federal to qualify as a recipient of cy pres funds. Since VLI is a qualified nonprofit organization, we would be an ideal cy pres recipient for class actions involving veterans. Since its founding, VLI has helped over 8,000 veterans and their families receive the legal assistance they require to succeed. The work we do may not only get veterans a roof over their heads but also helps eradicate barriers to housing, healthcare, education, and employment and foster self-sufficiency. In naming VLI as a recipient of cy pres, you will help us support and advocate for more Veterans in our communities. For questions or to learn more, please contact VLI’s Executive Director, Antoinette Balta at firstname.lastname@example.org.