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Published on: 8/24/2005
Last Visited: 11/11/2007
Chuck Dunlap, executive director of the Indiana Bar Foundation, said ILS has gone through many of the same financial struggles that other not-for-profit legal services providers have been up against in recent years.
"From an outsider's perspective, one of their problems is they don't have much of a diversification of resources," Dunlap said."They're extremely heavy on the federal funding."
Across the board, not-for-profits have struggled during the past couple of years, but Dunlap said he believes things are looking up.For organizations that receive funding from Interest on Lawyer Trust Accounts, good news has come in the form of hegher interest rates and mandatory IOLTA participation, so money is coming in more freely than it has in months.
In fact, IOLTA monies are poised to set a record in the month of August, Dunlap said.The bar foundation will likely give the same amount in January that it gave this year - $400,000; but Dunlap said money is coming in faster than it had been, so alloocations at the beginning of 2007 could be higher.
"Luckily, the future is a little brighter than it has been before," he said.