Category: Financial Report

LFW is pleased to report that the IOLTA program continued to see gains throughout the second quarter, April – June 2017. IOLTA revenue totaled $524,398 for the quarter – a 5% increase over the second quarter of 2016. As a reminder, IOLTA revenue is generated through interest earned on lawyers’ trust accounts and remitted to […]

As a reminder, LFW distributes funding for legal aid in Washington State that originates from a variety of sources: private donations to the Campaign for Equal Justice, residuals from class action lawsuits – known as cy pres awards – and money generate from the interest on lawyers’ trust accounts (IOLTA) program, to name a few. […]

The IOLTA (Interest of Lawyer’s Trust Accounts) program has seen a continuation of increased deposits and flat interest rates during the third quarter of 2016. IOLTA revenue for the period (July – September) totaled $558,353, a 12% increase over the second quarter (April – June) and 20% increase compared to the third quarter of 2015. […]

The Interest on Lawyers’ Trust Accounts (IOLTA) program continued its trend of increased cash on deposits and flat interest rates during the second quarter of 2016.  In other words, revenue generated from the IOLTA program is continuing to rise even though interest rates are not rising.  IOLTA interest revenue for the second quarter (April – […]

We believe that it is important to keep our grantees and partners up-to-date on the status of our revenue. This is the first of a series of quarterly financial updates, specifically aimed at sharing information about the IOLTA program. In these updates, we will also report on other revenue streams (such as cy pres awards […]