Montecito Bank and Trust Donates $1 Million
Montecito Bank & Trust CEO Janet Garufis (Photo: UBGC)
By edhat staff
At their annual Community Dividends luncheon, Montecito Bank & Trust donated $1 Million to local nonprofits.
Hundreds of nonprofits, 188 to be exact, from Solvang to Westlake Village received varying amounts of financial contributions from the local bank chain. The luncheon event was held last week at the Coral Casino with nonprofit honorees and bank employees.
It began in 2003 by past chairman Michael Towbes with the idea of donating $1 million dollars to organizations that serve low and moderate-income individuals and families, as well as organizations that serve the arts, youth and education, social welfare, and medical and health services.
"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," Michael Towbes has said before his passing in 2017 at age 87.
Montecito Bank and Trust Chairwoman and CEO, Janet Garufis, announced a new addition this year to honor Towbes. The Michael Towbes Community Impact Grant was announced with a $100,000 donation to the Santa Barbara Rescue Mission. The nonprofit was founded in 1965 to help those homeless and addicted serving meals, providing safe shelter to 200 men and women each night, and graduating over 40 people from its 12-month Residential Recovery Program each year.
Other beneficiaries include the Santa Barbara Police Foundation, an organization that supports the Santa Barbara Police Department by raising community awareness and providing funds for equipment, counseling services and more. Habitat for Humanity, the Teacher's Fund, Angel's Foster Care, the United Boys & Girls Club, and many more were also recognized.
The full list of 2019 Community Dividends Recipients can be found here.