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MB&T
Finance
Supporting critical needs to create stronger, thriving communities.
This tradition began in 2003 when our late founder, Michael Towbes, invited 100 nonprofits to lunch and surprised each of them with a $10,000 check. We have carried that tradition forward each year since, giving away $1 million every November to hundreds of nonprofits across the Central Coast.
Nonprofits in 2024
Donated in 2024
Years of Giving Back
Donated in 22 Years
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 awards dividends to organizations that serve the arts, youth and education, social services and medical and health services sectors.
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, our late founder, 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."
The Michael Towbes Community Impact Dividend was founded in 2019 to continue his legacy of significant and meaningful impact with an annual dividend of at least $100,000 to one or more nonprofit organizations that deliver critical and sustainable services to a large number of the most vulnerable people in Santa Barbara and Ventura counties. Learn about how, why, and how MB&T will always give back to our communities.
