Nearly 200 Non-Profits to Divide a Share of $1-Million in a Special Dvidends Luncheon
John Palminteri
SANTA BARBARA, CALIF. (KEYT) – Montecito Bank & Trust starts off the Thanksgiving week with a contribution to about 188 non-profits that will each share a portion of $1-million.
The philanthropic program is called Community Dvidends that got its start back in 2003.
Since then more than $23-million has gone to groups specializing in programs for arts, youth and education, social services, and medical and health services sectors.
The funds are distributed at a special lunch at the Hilton Santa Barbara Beachfront Resort. Each person enjoyed a full Thanksgiving meal while hearing about the programs history and plans for the future.
There will 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 dividend of at least $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.
(More details, photos and video will be added here later today.)
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