Quasi Cy Pres Doctrine
In Matter of Multiple Sclerosis Serv. Org. of N.Y. [New York City Ch. of Natl. Mutliple Sclerosis Socy.], 68 N.Y.2d 32, 496 N.E.2d 861, 505 N.Y.S.2d 841 , the Court interpreted the quasi cy pres standard as follows:
"Under the quasi cy pres standard of the Not-For-Profit Corporation Law, a Supreme Court Justice in determining whether to approve the plan of distribution proposed by the corporation's board, and if not to what other charitable organizations distribution should be made, should consider:
(1) the source of the funds to be distributed, whether received through public subscription or under the trust provision of a will or other instrument;
(2) the purposes and powers of the corporation as enumerated in its certificate of incorporation;
(3) the activities in fact carried out and services actually provided by the corporation;
(4) the relationship of the activities and purposes of the proposed distributee(s) to those of the dissolving corporation;
(5) the bases for the distribution recommended by the board" (68 N.Y.2d at 35).