Montecito Bank & Trust granted a total of $1 million to 188 nonprofits in Santa Barbara and Ventura counties at its annual Community Dividends Awards ceremony this week.
Community Dividends donations mainly support programs serving low- and moderate-income people and families in the local community, as well as organizations in the arts and culture, youth and education, social welfare, and health-care services sectors.
“Please know the value of your work does not go unseen,” bank Chairwoman and CEO Janet Garufis told nonprofit representatives in attendance. “As we enter the season of Thanksgiving, we are grateful for what you do to lift up our communities.”
The bank has donated $17 million in community dividends to more than 750 nonprofits since 2003. The tradition of Community Dividends celebrates local nonprofits that play a vital role in building healthy communities.
Before the luncheon, the Community Dividends program also provides an educational forum, and this year’s seminar focused on how nonprofits can make the case for full-cost funding, with an emphasis on creating an endowment that will preserve a foundation, and understanding financial statements.
The bank has supported the organizations in several ways, including financial advising, and sponsorships and financial support for services and programs. The bank is providing the resources and tools the nonprofits need to ensure a sustainable organization.
Now in its 17th year, the Community Dividends program was developed by bank founder and former chairman Michael Towbes, who died in 2017 at 87. Community Dividends honors the nonprofits and their significant work to improve all aspects of the communities.
“It is because of him (Michael Towbes) that we are all here today,” Garufis said. “Because of his vision of what corporate philanthropy could be — we get to celebrate the 188 of you who are here representing your organizations.”
Montecito Bank & Trust carries on Towbes’ legacy and brings area organizations together once a year to give thanks and celebrate their impactful contributions. He believed in working to build a better world and giving back to the community that had offered him opportunities.
Corporate philanthropy is a cornerstone of the bank’s business model, and Community Dividends continues Towbes’ work of financially supporting nonprofits, according to Montecito Bank & Trust.
In addition to the monetary donation for chosen nonprofits, Garufis unveiled a new Michael Towbes Community Impact Grant of $100,000 to the Santa Barbara Rescue Mission, an organization “serving some of the most vulnerable people in our community,” Garufis said.
(Brooke Holland / Noozhawk photo)
Details about future grants will be released at a later date.
“We are still working on the program’s finer details, but I couldn’t wait,” Garufis said of the Michael Towbes Community Impact Grant. “Stay tuned for the update in 2020, when there will be something more formal.”
Founded in 1965, the Santa Barbara Rescue Mission brings emotional, physical, educational and spiritual resources to people in need. It’s the only organization between Ventura and Santa Maria providing hot meals and overnight accommodations to homeless guests 365 days of the year.
The Rescue Mission offers women’s and men’s 12-month residential recovery, treatment, men’s sober living, family support, relapse prevention, academic instruction and job skills training. Its residential alcohol and drug program has won national and regional recognition.
Rolf Geyling, president of the Rescue Mission, accepted the inaugural Michael Towbes Community Impact Grant at the event.
“To be in this room is always humbling and encouraging,” Geyling said. “I’m reminded, as I’m in the nonprofit community, that one way we make it through … is to pay attention to the needs of others and do something about it.”
Monday’s celebration began with an hour-long networking reception at the Coral Casino at the Four Seasons Resort The Biltmore in Santa Barbara, and then organization honorees and bank employees socialized before heading inside to enjoy lunch.
A giant fake award check was displayed on stage. The memo said, “Favorite day!”
— Noozhawk staff writer Brooke Holland can be reached at bholland@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.
