Foundations combine administrative forces
Two of the largest foundations in the tri-counties are joining philanthropic forces.
Effective April 1, the Santa Barbara Foundation, the second largest foundation in the region with more than $200 million in assets at the beginning of March, and the Hutton Foundation, the 10th largest foundation with $80 million, will combine some of their grant-processing capabilities.
Standard grant program requests received by the Hutton Foundation will now be redirected to the Santa Barbara Foundation’s mini and impact grant programs for processing, a change which foundation excutives say will mean leaner operations and more efficient use of donor dollars.
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