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 welfare, and medical and health services sectors.
The Community Dividends app supports over 100 local charities by enabling community engagement in community events. Community feed, sponsor recognition, agenda and game points with a leaderboard for a combination of fun and involvement.
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.”