January 22, 2025
Annual Review of Nevada’s Philanthropic Trends in NSB’s Private Bank Report
LAS VEGAS – The Private Bank by Nevada State Bank released the latest edition of the High Net Worth Report series today. Issue 1 of 2025 summarizes charitable giving trends both nationally and in Nevada. Utilizing data from nonprofit organizations, the federal government and academic studies, this report provides insight on the state of charitable giving, especially among high net worth households.
Highlights from the current issue include:
- Total donations in the U.S. climbed for the fifth year in a row to an all-time high of $557 billion in 2023. The total was 1.9 percent higher than the $528 billion in 2022. Rising investment portfolios and a strong economy supported the continued growth trend in philanthropic giving.
- In 2022, 85 percent of high net worth households in the U.S. contributed to charity, nearly twice the 49 percent participation rate of other households. On average, high net worth households donated $35,000.
- Charitable giving by Nevadans aligned with national trends following the pandemic. In 2021, the latest data available, Nevada households reported $2.4 billion in charitable deductions on their tax returns, a 29.1 percent increase compared to 2020.
- In Nevada, high net worth households donated more than $2.0 billion in 2021, ranking 12th in the U.S. On a per-household basis, high net worth households averaged $62,300 in charitable deductions, ninth most in the nation.
- Corporate giving in Nevada continued to rise in 2023, with total contributions climbing 3.6 percent over the year to $641 million.
“Charitable giving continues to be a foundational element in communities throughout the Silver State,” said James Rensvold, Executive Vice President and Director of Private Banking. “Nevadans have proven time and again that when it comes to donating to worthy causes, they are ready and willing to support organizations and institutions that make our state a better place.”
The Private Bank’s High Net Worth Report is available on Nevada State Bank’s website at www.nsbank.com/HNWreport or by contacting The Private Bank directly at 702-855-4596.
About Nevada State Bank (@nevadastatebank)
Nevada State Bank is a full-service bank offering a complete range of consumer, private, and business banking services, as well as wealth management services, with a robust statewide branch network. Nevada State Bank’s colleagues regularly volunteer in their communities and have been dedicated to helping make Nevada a better place to live for the last 65 years. Zions Bancorporation, N.A. is included in the S&P 400 Mid-Cap and NASDAQ Financial 100 indices (NASDAQ: ZION).
For more information on Nevada State Bank, visit www.nsbank.com.
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