Foundation announces IOTA collections for 2022-23 fiscal year

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In December 2023, The Florida Bar Foundation changed its name to FFLA. Posts prior to this date contain our former name.

The Florida Bar Foundation has collected $45,547,390.93 in Interest on Trust Accounts (IOTA) collections during fiscal year 2022-23, its second year under amended Rule 5-1.1(g)(8), Rules Regulating The Florida Bar.

In accordance with the rule, the Foundation will, on or before Dec. 31, 2023, distribute to one or more qualified grantee organizations all IOTA funds collected during the fiscal year except for direct expenses required to administer the IOTA funds, funds required to fund the Loan Repayment Assistance Program, and an additional reserve amount if requested by the Foundation and approved by the Florida Supreme Court.

“The Foundation is dedicated to being a responsible, effective steward of IOTA funds and looks forward to seeing the impact this funding will have on the unmet civil legal needs of so many in our state,” Murray Silverstein, the Foundation’s president, said.

The Foundation developed a Work Plan that describes the overall process it follows for the distribution of IOTA funds to qualified grantee organizations. The Work Plan can be viewed here.