Please Consider Economic Action Maryland Fund for Cy Pres Funding
Through the generous support of individuals, organizations, and foundations Economic Action has transformed the economic rights landscape in Maryland by prioritizing the needs of low-income communities in our direct service, research, and policy work.
In order to expand and deepen our work with low-income and working families across Maryland, your support is essential and deeply appreciated. Economic Action would be a great recipient of cy pres funding because we advocate for policies that best represent the interests of vulnerable and low-wage Marylanders, we educate and raise awareness of consumer protection issues because we believe that collective power strengthens our community. We investigate and enforce fair housing laws, and are deeply invested in our direct service work to respond to the needs and challenges to economic rights. Our research, policy advocacy, and direct service work prioritizes closing the racial wealth gap and addressing the issues facing low-income communities and communities of color.
Please consider designating Economic Action as a cy pres recipient to help us sustain our economic rights and housing justice programs that support residents across the state.
What Is Cy Pres?
Cy Pres derives from a French phrase that translates to “as near as possible” and is a legal doctrine that applies to charitable trusts. If a court finds that a donor’s charitable trust or gift is impossible or impractical to carry out, the court has the power to revise the trust to a charitable purpose that is as near as possible to the original purpose.
Why Does Cy Pres Exist?
The cy pres doctrine is often applied in the case of a class-action lawsuit. The court can implement cy pres to distribute leftover settlement money to a charitable purpose that best serves a community that represents the class members. For example, in a case where tenants were determined to be wrongfully treated by a property management company, the court is likely to approve a charity like Economic Action Maryland that champions tenants’ rights to receive cy pres funding.
Another instance where the cy pres document is applied is when a donor designates a general charitable contribution without specifying a beneficiary or purpose. Under the cy pres doctrine, the courts can interpret the trust and fulfill the outlined charitable intent as closely as possible. This way, the contribution can go to the next best use rather than dissolving the trust. Cy pres recipients are often nonprofits that provide public services like Economic Action Maryland. With our policy advocacy, consumer education and awareness-raising, fair housing investigation and enforcement, and direct service work, Economic Action Maryland is a great candidate for cy pres funds.
Cy Pres Donors
We have been fortunate to receive cy pres awards in the past that have boosted our continued advocacy, education, policy, and direct service work.
- Wetzel v. AFFCU
- Oliver v. Amko Auto
- Lendmark Financial Services, LLC v. Cruz
Baker v. Antwerpen - Claireborne et al. v. Maryland Management Company
- Asimalowo v Gregory Alexandrides
Nominate Economic Action Maryland Fund for a cy pres award. Contact Marceline White, Executive Director at marceline at econaction dot org or call 410-624-8980 to nominate the organization or discuss our stewardship and use of cy pres.