this money to any alternate source that may represent a worthwhile endeavor. Instead, courts must redirect the funds in a manner that best serves the original intent of the settlor or testator. Indeed, the very term cy pres suggests this limitation on the principle; cy pres is Norman French for “as near” and signifies that the donor’s intent must be followed “as nearly as possible.” See Wilber v. Owens, 2 N.J. 167, 177, 65 A.2d 843 (1949); Town of Cody v. Buffalo Bill Memorial Assn., 64 Wyo. 468, 493, 196 P.2d 369 (1948). When courts employ their cy pres power, they must redirect the gift to an alternate donee that pursues a purpose similar to that of the original donee. See, for example, Board of Education of City of Rockford v. City of Rockford, 372 Ill. 442, 24 N.E.2d 366 (1939) (<HOLDING>). The related purpose requirement also applies
holding that if the trust becomes operative thereafter fails and cy pres is inapplicable the devolution of the trust goes to the heirs at law and not to residuary legatees holding that the proceeds of a liability insurance policy were not property of the estate holding that because proceeds of a letter of credit were not secured by estate collateral the proceeds were not property of the estate holding that cy pres could not be used to divert the proceeds of an educational trust to a civic association even though that associations activities were undoubtedly laudable holding that heirs at law of testatrix were not necessary parties to action where trust fails cy pres is inapplicable and the will contained a residuary clause and finding no basis to distinguish between the situation where the trust does or does not become operative