Main sources of revenue
The Law Foundation of Ontario’s main source of revenue is interest received from lawyers’ and paralegals’ mixed trust accounts. Other sources of revenue are cy-près awards and investment income.
The Law Foundation of Ontario is entrusted by law with the interest from mixed trust accounts held by lawyers and paralegals. By law, the Foundation gives 75% of this revenue after operating expenses to Legal Aid Ontario. The Foundation uses the remaining 25% to make innovative grants to improve access to justice across Ontario.
Legal professionals routinely hold money in trust for clients – in connection, for example, with the sale of a house or the settlement of a lawsuit. If the funds are small in amount or will be held in trust for a short time and are unlikely to generate any net interest for the individual client, the funds may be placed in a mixed trust account. Programs that use income from the professions’ trust accounts to advance access to justice exist throughout Canada and the United States and in several other jurisdictions.
The Law Foundation of Ontario’s revenues from the interest on mixed trust accounts can be highly variable. Two broad factors determine revenues in any given year: mixed trust balances and interest rates.
The Foundation negotiates agreements with major banks and other institutions authorized to hold lawyers’ and paralegals’ mixed trust accounts as to the interest to be earned on those accounts. The agreements take into account the significant monetary value of mixed trust accounts and the societal value of the Foundation’s work. Terms can vary significantly over time and further influence the Foundation’s revenues.
Learn more about reporting a mixed trust account and see grants made from this revenue.
Annual reports
The Law Foundation of Ontario annual report provides an overview of the year’s activities and it is accompanied by audited financial statements.
Report a mixed trust account
Lawyers and paralegals must report annually on each mixed trust account. It is important to direct the financial institution to forward all interest earned from a mixed trust account to The Law Foundation of Ontario.
Direct a cy-près award
Many courts have approved the Foundation as a fitting and accountable recipient of cy-près awards. The Access to Justice Fund is a permanent fund available to receive such awards.
What's new
Growing Possibilities: sharing our strategic plan
As we begin our 50th anniversary year, we are excited to share Growing Possibilities, our 2024-2029 strategic plan.
Goodbye and thank you to a true access to justice champion
We are deeply saddened to learn of the passing of the Honourable R. Roy McMurtry, a true champion of access to justice for all Canadians.
Job posting: Summer Law Student, Class Proceedings Fund
We are seeking a Summer Law Student, Class Proceedings Fund