Message from the President

It is an honor for me to assume leadership of the Foundation, but I do so with full awareness of the challenges that will present themselves in the coming months.

The numbers are staggering. In Florida -- mostly due to unprecedented low interest rates -- IOTA revenue has dropped from $44 million in 2007-08 to less than $11.5 million in 2008-09. Meanwhile, demand on the state's legal aid system is rising as the foundering economy leaves more and more Floridians in crisis. More than 268,000 foreclosures were filed in Florida in the first six months of 2009, an increase of 42 percent over the same period in 2008 according to RealtyTrac. So while the Foundation's revenue is decreasing, conversely, the needs of those it serves are on the rise, at an alarming rate.

The Foundation had the foresight to set aside a reserve from a few years of increased IOTA revenue, but the reserve is only a cushion, not a substitute for normal IOTA revenue. The steep drop in revenue in the last few years, which is forecast to continue, clearly demonstrates the need to build the Foundation's endowment as a means of ensuring a stable future source of revenue and mitigating the effect of economic ups and downs on our grantees.

Under the leadership of Tim Bachmeyer, director of development, the Foundation has created a planned giving program, including charitable gift annuities, to provide a way for those who care deeply about the organization's future to leave a lasting impact.

Meanwhile, as you can see from this newsletter, the good work of the Foundation and its grantees goes on -- with programs to preserve affordable housing, foster the next generation of legal aid attorneys and develop ways to improve the effectiveness of our courts and the experience of those passing through them.

As we look at these results, I'd like to commend Immediate Past President Kathy McLeroy for her insightful and steady leadership of the Foundation this past year. Kathy has been a beacon of reason during her 10 years with the Foundation. Also, I would be remiss if I did not acknowledge the many contributions of former President Bruce Blackwell. Bruce's commitment to justice and fair play was evident in everything he did on behalf of our board. Where would the Foundation be without leaders like Kathy, Bruce and Sylvia Walbolt, who was recognized as the Foundation's 2009 Medal of Honor winner for her lifelong dedication to pro bono service?

The Florida Bar Foundation is truly a flagship Bar Foundation in the United States and one to be proud of. Over the next year, I will visit voluntary bar associations across the state to tell the Foundation's story and create a greater awareness of our work. I hope to collect many stories from our grantees of how the Foundation has improved the lives of those it seeks to serve, so that I can retell those stories in future issues of "Speaking of Justice."