Arts & Culture
Cy Pres and Its Application to Failed Charitable Trusts
Quick fact
The cy pres doctrine allows a court to redirect a charitable trust's assets to a different charitable purpose when the original one fails, as long as the new purpose is 'as near as possible' to the donor's intent.
Why this is interesting
Imagine donating $1 million to build a hospital in a town that later becomes deserted. What happens to your gift—does it disappear, or can it be repurposed?