Nonprofit Partner Program
Learn how our Nonprofit Partner Program can assist your Nonprofit business.
About Our Nonprofit Partner Program
At Summit State Bank, we take serving our community very seriously and are committed to making a difference, just as you are. As a local community bank, our employees care deeply about the work you do, and we will work tirelessly to help you achieve your goals.
Our Nonprofit Partner Program is designed for 501(c) tax-exempt organizations to enhance your fundraising efforts and to maximize your organization’s money.
There are several ways in which to engage our team and leverage the program attributes:
- Volunteers - As part of our Summit Day of Service, our employees are granted a day to give back to the community and volunteer their time with any nonprofit organization in Sonoma County. You can make us aware of your volunteer needs, and we will share your request with our team.
- Board Members - If you are seeking to add a Board Member to your organization, let us know, and we will see if we can assist you. We have many well-connected employees with financial expertise.
- Contributions - For 501(c) organizations who have a deposit account with Summit State Bank, we will make an annual contribution based on your average annual account balance, prorated for the portion of the year the account is open.
We will pay your nonprofit based on the type of account you select. Here’s how it works:
Non-interest bearing operating accounts
You will earn .95% on your non-interest bearing operating accounts.* Analyzed business accounts are included. For example, a $100,000 average Summit account balance would receive a $950 annual contribution.
You will earn .25% on your interest-bearing Summit savings, money market and demand deposit accounts. For example, a $100,000 average Summit account balance would receive a $250 annual contribution.
Insured Cash Sweep (ICS)
For nonprofits who are interested or required to maintain insured funds, we offer an ICS account and pay .65% if your account is a non-interest bearing operating account or .15% for an interest-bearing operating account. Click for more.
Together, we can help make Sonoma County a better place to live for all members of our community.
For more information regarding our Nonprofit Partner Program click here.
Summit Day of Service - Volunteering in the Community
Summit State Bank takes pride in being involved in the Sonoma County Community in many different ways. Through our Summit Day of Service, every employee receives one paid work day a year to volunteer their time with any non-profit within our community of their choosing.
Recent non-profits served include: Canine Companions for Independence, Farm to Pantry, and The Novato Theater Company.
This is not a full disclosure of services and charges. You will be provided a full-disclosure upon opening an account.
* Summit State Bank reserves the right to determine that an operating account’s activity is reflective of true operational use and qualified based upon the aforementioned annual contribution parameters. An operating account is typically used to record every day administrative and general income/expenses including payroll, employee benefits and pension contributions, travel and transportation, amortization and depreciation, rent, repairs, taxes; income/expenses from programs and services, e.g. grants, informational services/training programs for community; fundraising event income/expenses.
In order to receive the annual contribution, the benefiting account must be in an open status at the time of the payout.