KBF opens IOLTA Grant Proposal Process
Thursday, July 12, 2018
Posted by: Meg Wickham
FOR IMMEDIATE RELEASE
Kansas Bar Foundation opens IOLTA Grant Proposal Process
TOPEKA, Kan. (July 12, 2018)—
The Kansas Bar Foundation is now accepting grant proposals under its IOLTA (Interest on Lawyer Trust Accounts) program. The deadline to submit a proposal is September 7. The grant application packet and additional information can be found at https://www.ksbar.org/mpage/kbf_grants.
The Kansas IOLTA program generates approximately $75,000 per year that can be distributed to organizations that support law-related educational projects and programs that support access to justice for low-income Kansans. The IOLTA program collects the interest from lawyers’ commingled client trust accounts which, prior to the creation of the Kansas IOLTA program in 1984, were held in non-interest bearing accounts. The client funds deposited in these accounts are either so small or will be held for such a short amount of time that any interest generated would be less than the expenses to set up a separate account or to separate out, keep appropriate tax records, and dispense interest to each client. However, when a number of these small or short-term funds are pooled together, they can produce significant amounts of revenue for law‑related charitable public service projects. Kansas partners with Kansas bankers to provide IOLTA. A list of KBF bank partners can be found at https://www.ksbar.org/mpage/iolta_institutions.
About the Kansas Bar Foundation
For over 60 years, the Kansas Bar Foundation has funded opportunities for the citizens of Kansas for charitable and educational projects that foster the welfare, honor and integrity of the legal system by improving its accessibility, equality and uniformity, and by enhancing the public opinion of the role of lawyers in our society. Since 1984, with funding from Interest on Lawyers Trust Accounts, the Foundation has awarded more than $4 million in grants to provide legal services to those who cannot afford them and for law related educational programs. www.ksbar.org/kbf
Meg Wickham, Director of Member and Communication Services
Direct: (785) 861-8817
Main: (785) 234-5696
About the Kansas Bar Association
The Kansas Bar Association is a voluntary professional association comprised of 7,000 members dedicated to advancing the professionalism of its members, encouraging public understanding of the law, and promoting the effective administration of our system of justice.