May 21, 2012
Lake Erie College Receives Generous Gift from Law Firm(Painesville, Ohio) – Lake Erie College announced today it received a generous gift in the amount of $68,750 from Northeast Ohio law firm Dworken & Bernstein Co., L.P.A. which will contribute mostly to student scholarships and a small portion to the rebuilding of the Lincoln Library. The gift was made possible by cy pres, a legal doctrine meaning "as nearly as possible” and comprised of leftover funds from class action lawsuit settlements that are unclaimed.
"We are very grateful for this gift that will benefit our students and the library rebuilding project. Dworken & Bernstein have developed a strong reputation in supporting local charities, businesses and colleges, and we are thankful for the immediate impact of possibilities they are creating. With the support of the community, we are able to build state-of-the-art facilities and offer the right learning communities that contribute to overall student success,” said Lake Erie College President Michael T. Victor.
According to Dworken & Bernstein, millions of dollars are lost every year as a result of unclaimed funds from the resolution of class action suits. In an effort to correct this problem, the company founded Ohio Lawyers Give Back to promote the use of cy pres and to distribute unclaimed money to non-profit organizations. In 2011, Ohio Lawyers Give Back awarded over $2.1 million to 20 organizations in Ohio and, since 2003, it has distributed over $25 million to worthy non-profits around the state.
"My Irish-Catholic mother always told me, "Patrick, do the right thing." Distributing these unclaimed funds to charitable organizations is the right thing to do,” said Dworken & Bernstein partner Patrick Perotti.
Dworken & Bernstein presented the gift to Lake Erie College at the College’s board meeting on May 19. Lake Erie College has received more than $40 million in contributions since 2006 under the leadership of President Michael Victor.