40 Years of IOLTA: Restoring Hope Through Justice

In 2025, we proudly celebrate the 40th Anniversary of Rhode Island’s Interest on Lawyers Trust Accounts (IOLTA) program, first established in 1985. To commemorate this significant milestone, we have created this brochure to honor the history of Rhode Island's IOLTA program and recognize the remarkable individuals who have contributed to its success since its inception. For four decades, IOLTA has been a cornerstone of justice in our state, providing critical resources to support legal service organizations and programs that advance access to justice for those most in need.

The success of IOLTA is the direct result of the substantial and ongoing participation of Rhode Island’s lawyers and law firms. Attorneys who hold client funds must establish IOLTA accounts for the deposit of funds that cannot otherwise earn net interest for the client. The interest from these pooled accounts is then directed to the Rhode Island Bar Foundation (RIBF), which annually awards grants to sustain vital programs that benefit the public.

What began in the early 1980s as a new concept in banking law has become a national model, with IOLTA programs now operating in every state. Collectively, they serve as an essential funding source for civil legal services, pro bono programs, victim services, foreclosure prevention, law-related education, and countless other worthy initiatives.

In Rhode Island, our IOLTA program exemplifies how the legal profession, working together with our banking community, can leverage small, otherwise idle resources for extraordinary public good. Since its inception, IOLTA has empowered the Bar Foundation to carry out its mission of advancing justice and promoting equal access to the legal system.

As we mark this milestone, we extend our gratitude to every attorney and firm whose participation makes this work possible. Together, we celebrate 40 years of IOLTA and look forward to continuing its powerful legacy of advancing justice for the next generation.