Community Dividends®

Created in 2003 by Montecito Bank & Trust owner and Chairman Michael Towbes, Community Dividends awards a total of $1 million dollars to hundreds of 501(c)(3) designated organizations which serve low and moderate-income individuals and families in Santa Barbara and Ventura Counties. The program also awards dividends to organizations that serve the arts, youth and education, social services, and medical and health services sectors.

Historically held at the Coral Casino in Santa Barbara, the nonprofit honorees are invited to join bank employees in a celebration of their community commitment. It has become one of the most anticipated nonprofit events of the year, providing organizations the opportunity to socialize with their nonprofit colleagues, share ideas, build stronger bonds and reflect on their impact in the community.

Explaining the motivation behind Community Dividends, Michael Towbes said, "We do this because we recognize and support the invaluable role nonprofits play in enhancing the quality of life for all segments of our society. We do this to encourage other organizations to follow in our footsteps. We do this to encourage our employees to volunteer to support these worthy organizations. We do this because we think it’s the right thing to do."

To apply for a 2021 Community Dividends grant, visit

*COVID-19 Requests: We understand that fundraising efforts have been dramatically impacted by COVID-19 and that simultaneously there has been a greater need for services and community assistance during this time.

If you have a designated program or need that you would like us to consider prior to the Community Dividends application reopening in June, please submit the online sponsorship application that can be found at If you are applying for COVID-19 support, it’s important that you be specific about how your organization has been impacted by the pandemic outside of general operating costs. Please include as much detail as possible about how you’ll use the funds and who will benefit.


Please contact Ashleigh Davis at (805) 963-7511.