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IOLTA Revenue Enhancement: The Time Is Now!
Now is the time to be in action, and prepare for rates to rebound.

The Resource has been involved in IOLTA "revenue enhancement" efforts since 1992. We have never seen a time when IOLTA revenue enhancement has been more needed... or more promising. We see three opportunities that every IOLTA program should consider pursuing right now:

IOLTA interest rate comparability, ranging from a feasibility study, to development of rule amendments, to implementation.

System for monitoring bank compliance with comparability, reasonable fees, no negative netting, and other policies.

"Leadership banks" program to promote banks that choose to pay above and beyond the requirements of your IOLTA rule.

The current economic climate has created a severe challenge for IOLTA programs and the civil justice organizations that rely on them for funding. The revenue streams of IOLTA programs - as well as foundations and other funding organizations - have dropped steadily for the past several years as the interest rates banks pay on deposit accounts have fallen to the lowest levels in history.

Yet this is only a temporary situation. Interest rates will eventually turn upward. The time for IOLTA programs to be ramping up their "revenue enhancement" efforts is now. The action that IOLTA leaders take over the next 12 months will have a dramatic impact on the size of IOLTA grants for years to come. This article lays out a range of opportunities ahead and provides suggestions for grasping them.

For more information, please click on the following link:  [revenue_enhancement.htm]


About The Resource for Great Programs

 We can help with all aspects of rate comparability.

b_bullet Conduct revenue impact studies - To determine how much you could reap through a rate comparability rule and to set a fair and effective "benchmark" or "safe harbor" rate.

b_bullet Develop a rate comparability rule - To earn the same high rates for IOLTA that non-IOLTA customers get.

b_bullet Persuade bench, bar, & banks - To support your efforts for more money & fair rates.

b_bullet Implement your comparability rule - To join the multiple states we've helped to implement rules with more than 1,000 banks. Campaigns to move from voluntary to mandatory too.

b_bullet Make sense of your remit data - To understand what the rates & principal balances are.

b_bullet Learn what banks should be paying IOLTA - To level the playing field in your state.

b_bullet Foster policy innovations - To maximize revenue & strengthen your hand with banks.

b_bullet Monitor bank compliance - To ensure banks continue to comply with your rule as products, rates, & fees change.

b_bullet Forecast your future revenues -To allow you to develop reserves & stabilize grants.

 

The Resource's IOLTA Staff, led by Ken Smith & Kelly Thayer, would be pleased to answer your questions and help your program increase revenues. Contact us today!

Maximizing IOLTA revenue & pursuing Full Access across America since 1984.

   
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