About Us | Purposes of Missouri Lawyer Trust Account Foundation
Pursuant to a Missouri Supreme Court Order dated October 23, 1984, the Court ordered the creation of a not-for-profit corporation known as “The Missouri Lawyer Trust Account Foundation.”
The Foundation was organized exclusively for charitable, education or scientific purposes and qualifies as exempt from Federal Income Tax under Section 501(c)(3) of the Internal Revenue Code.
The Foundation collects revenues from the interest accrual on lawyer IOLTA trust acconts and its purposes are limited to:
(a) providing civil legal assistance to the poor;(b) improving the administration of Justice
(c) promoting such other programs for the benefit of the public as are specifically approved from time to time by the Missouri Supreme Court for exclusively public purposes.
The purposes are primarily fulfilled by the awarding of grants to qualified applicants. More information about Foundation grant guidelines and past recipients can be found at the "Grants" section of this website.
View the full text of the Foundation Bylaws
The Foundation is governed by a thirteen member Board of Directors. Each Director serves a term of three years, with a limit of service of two consecutive three-year terms or a total of eight years of service.
Twelve of the thirteen members are required to be licensed lawyers in Missouri who maintain IOLTA trust accounts. One member is required to be a non-attorney.
Directors are nominated to the Board as follows:
· Three Directors are appointed by the President of the Missouri Bar. One shall be a resident of or maintain an office for the practice of law within the city of Kansas City, Missouri, or Jackson County, Missouri; one shall be a resident of or maintain an office for the practice of law within the city of St. Louis, Missouri, or St. Louis County, Missouri; and one shall be a resident of or maintain an office for the practice of law within Missouri but outside the foregoing two geographical areas.
· Two Directors who are residents of or maintain an office for the practice of law withing the city of Kansas City, Missouri, or Jackson County, Missouri, shall be designated by the Kansas City Metropolitan Bar Foundation.
· Two Directors who are residents of or who maintain an office for the practice of law within the city of St. Louis, Missouri, or St. Louis County, Missouri, shall be designated by the St. Louis Bar Foundation.
· One Director who is a resident of or maintains an office for the practice of law withing the city of Springfield, Missouri, or Greene County, Missouri, shall be designated by the Springfield Metropolitan Bar Foundation.
· Four Directors shall be designated by each of the Missouri Legal Services programs receiving funding directly from the Legal Services Corporation and serving clients in Missouri. One non-attorney Director shall be appointed by the Board of Governors of The Missouri Bar from the general populace.
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Interest on Lawyers' Trust Accounts History
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