Nearly 200 Non-Profits to Divide a Share of $1-Million in a Special Dividends Luncheon

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SANTA BARBARA, CALIF. (KEYT) – Montecito Bank & Trust started off the Thanksgiving week with a contribution to 188 non-profits that will each share a portion of $1-million.

The philanthropic program is called Community Dividends that got its start back in 2003 by the late Michael Towbes the founder and CEO of the bank.

The 2025 funds were distributed at a special lunch at the Hilton Santa Barbara Beachfront Resort. Each person enjoyed a full Thanksgiving meal while hearing about the program’s history and plans for the future.

Montecito Bank & Trust President and CEO Janet Garufis told the room of 300, “you listen to your community, engaging with them to better understand their needs. You collaborate with partners to be more effective and how those needs are met, you advocate for changes to enhance the quality of life for all segments of our community.”

Since the distribution began more than $23-million has gone to groups specializing in programs for arts, youth and education, social services, and medical and health services sectors.

Many of the representatives gathered prior to the lunch to share updates about their non-profits and some of the financial challenges they face either with a change in local donations or a drop in federal funds. In some cases the stories were dire and included program staff layoffs.

There was also be a special Michael Towbes Community Impact Dividend. That was founded in 2019 to continue the late CEO’s legacy beyond the original dividends goals by Towbes. It is an annual award of $100,000 to one or more non-profit organizations that deliver critical and sustainable services to a large number of the most vulnerable people in Santa Barbara and Ventura counties. This year there were two winners.

They were given to the Santa Barbara Foundation and the Ventura County Community Foundation (VCCF).

In receiving the award VCCF President Vanessa Bechtel recalled a quote by the late Archbishop Desmond Tutu which read, “do your little bit of good where you are.” They also have a Neighborhood Support Coalition that will be using the funds.

Santa Barbara Foundation President and CEO Jackie Carrera said there is a dire need to keep groups funded that are providing health care, aid for those who are facing food insecurity and in need of mental health resources. She re-emphasized the national concern about the shift in public funding which in many cases, is going down.

“We have a big job ahead of us with the number of applicants we are seeing that are experiencing those cuts and changes to those programs because of policy changes but we have a good team to make those decisions,” said Carrera.

One of the growing programs was featured when a choir of children performed for the luncheon.
They were with the Music Academy of the West “Sing! ” program that serves 300 young singers.

Additionally, this year there were five recipients of a golden ticket worth $500. that they found inside the Montecito Bank & Trust annual report handed to each attendee. Those who received the surprise could keep it for their organization or pass it on to another non-profit in the room.

This years list of recipients are: