Key Points:

• Political candidates raise large sums of cash in single events

• Nantucket Island in Massachusetts is a popular fundraising spot

• Arizona Governor Katie Hobbs raised $15 million in her 2022 campaign

There’s a quote attributed to noted bank robber Willie Sutton, who was asked why he robbed banks.

“Because that’s where the money is,” he replied.

It’s not surprising that the same mantra exists for political candidates seeking to scoop up large amounts of cash in single events. For many, that means Nantucket Island in Massachusetts.

That’s where Democratic Gov. Katie Hobbs was earlier this week for a fundraiser for her reelection campaign, where $1,000 got you in the door as a “supporter.” A $2,800 contribution made you a “sponsor.”

And for $5,500 — the maximum an Arizona candidate for state office can take — you could be one of the “hosts.”

And it comes just three days after Ruben Gallego was hosted — also on Nantucket Island — for a fundraiser, even though he is in only the first year of his six-year Senate term. In his case, the “suggested contribution” to be a host was $7,000.

But it isn’t just Democrats who find the tiny island fertile ground for raising cash. Vice President J.D. Vance, who may be looking at the 2028 presidential race, reportedly raised $3 million there in July on behalf of the Republican National Committee with an event where tickets cost up to $250,000 per couple.

And while Nantucket has been a go-to place for candidates for decades, there’s a new site that’s become popular, particularly among Republicans: Mar-a-Lago, the Palm Beach resort owned by President Trump.

Kari Lake made use of the space at least twice, once in 2021 when she was running for governor and again in 2024 in her bid to become a senator, with reports that she picked up $1 million from the latter event.

And earlier this year, Republican gubernatorial hopeful Karrin Taylor Robson made a foray to Mar-a-Lago to raise cash for her campaign.

How much each picked up in their out-of-state forays is yet to be known.

“The campaign does not comment on fundraisers,” said Michael Beyer, a spokesman for the Hobbs campaign. In fact, he wouldn’t even confirm that there had been a fundraiser on August 21, even though he knew Capitol Media Services already had a copy of the invite.

Nor were there fundraising figures from the Gallego or Robson campaigns.

All of this comes as campaigns, even for state-level offices, have become more expensive.

Hobbs raised more than $15 million for her first gubernatorial race in 2022. So did her GOP foe, Kari Lake.

In her latest report covering through the end of June, Hobbs reported a cash balance of nearly $4.7 million more than a year before the 2026 election.

Robson had only about $876,000 on hand at the end of June. But with a contested Republican primary, she already had spent $2.6 million, including $2.2 million of her own cash.

Her GOP foe, Andy Biggs, who entered the race later, reported $437,000 in cash available.

Actual donations from these out-of-state events don’t have to be disclosed for months when candidates file financial disclosure forms. But even then, it can be difficult to figure out what checks came in the mail and which ones were part of an organized fundraiser.

And the reports themselves don’t always help.

They do contain the address of the donor.

But consider Ambassador Elizabeth Bagley, listed first among the “hosts” for the Hobbs Nantucket fundraiser.

While she has a home on the island, she also has one in Washington, D.C. In fact, that is the address she lists on federal campaign finance reports.

Much of this comes back to the fact that candidates go to Nantucket because the very small island — it’s just 14 miles long and 3 1/2 miles wide — has some very wealthy full-time and part-time residents.

Point2Homes, which collects data for its real estate rental operations, reports the average household income exceeds $182,000 a year. Among the island’s population, there are just 342 individuals below the federal poverty level.

And Fisher Real Estate Nantucket says the price of the average home there is $4.88 million.

Bagley has been a dependable fundraiser for Democratic causes, having given to the presidential campaigns of Barack Obama, Hillary Clinton and Kamala Harris. She even held a fundraiser for Clinton in 2016 at her Washington home, according to published reports.

Also on the host committee for Hobbs was Ian Simmons, a member of the family that founded the Montgomery Ward department store chain. And Simmons was busy this past week: He also was on the host committee for the Gallego fundraiser.

Arizona’s other senator, Mark Kelly, also visited the island in 2022 as he was campaigning for a full six-year term, bringing along what was being promoted as his “special guest” — that being his wife, former Congresswoman Gabby Giffords. The Nantucket Current said attendees were asked to commit to “giving levels” starting at $1,000 and up to $11,600.

It’s not just Vance who discovered that the island also can yield dollars for Republicans.

In 2012, for example, Mitt Romney, newly nominated to be the GOP candidate to face off against Obama, managed to raise more than $7 million from a single fundraiser at an Eel Point Road home.

Donald Trump held a fundraiser on Nantucket in 2016 as he ran for his first term as president, with invitations saying that a couple donating or raising $500,000 would be listed as co-chairs of the event.

And Mike Pence, his vice president, showed up on the island four years later for a $25,000-a-ticket fundraiser.