The We Are Santa Monica Fund was established in 2020 in response to the COVID-19 pandemic and has since adapted to address ongoing community needs, particularly those impacted by recent fires. This fund, administered by the California Community Foundation, serves as a vital resource for Santa Monica residents and local organizations, providing urgent financial relief through tax-deductible donations. With a focus on promoting a vibrant and equitable city, the fund is currently prioritizing direct services that benefit Santa Monica students, businesses, and individuals displaced by disasters. Grant applications are evaluated rigorously due to limited funding and increasing competition, with maximum grants set at $20,000, although the average grant amount is lower. Applicants must provide comprehensive documentation, including proof of nonprofit status and detailed project budgets, and must submit applications at least three months prior to the funding need.

Recipients are required to acknowledge receipt of funds and participate in a follow-up questionnaire to assess the impact of the funding. The fund maintains a clear stance on the types of projects it can support, excluding capital requests, fundraising events, and ongoing operational costs. This emphasis on accountability and strategic funding ensures that contributions effectively support the community's most pressing needs.