T. Denny Sanford
|T. Denny Sanford|
Statue of Sanford in front of the Sanford USD Medical Center.
|Born||Thomas Denny Sanford
December 23, 1935
Saint Paul, Minnesota
Owner and Founder of First Premier BankCEO of United National Corp
|Salary||In excess of $1.0 Million USD|
|Net worth||US $1.4 Billion (2012)|
Sanford made his fortune as the owner of First Premier Bank and Premier Bankcard, both among the nation's leading credit card providers. Sanford's net worth is roughly $1.3 billion. Premier Bankcard issues low-limit Mastercards and Visas to credit-impaired customers, charging higher-than-average interest rates and fees. The typical customer stays only 18 months before graduating to a better rate. "We provide a lifeline for credit-impaired people," Sanford told Forbes magazine. The Denny Sanford Premier Center in Sioux Falls, South Dakota, will be named for him.
Sanford has been as generous in his philanthropy as he has been successful in his business ventures. BusinessWeek magazine listed him as one of the top 50 most generous philanthropists in November, 2006.
On Saturday, February 3, 2007, Sanford announced a $400 million gift to Sioux Valley Hospitals and Health System, which renamed itself Sanford Health. Sanford's total philanthropic gifts have exceeded $500 million, and are generally geared toward improving the quality of life for children. Others receiving significant gifts include:
- Children's Home Society of South Dakota, which cares for abused and neglected children.
- Roundup River Ranch, an affiliate of Paul Newman's Association of Hole in the Wall Camps, located in Gypsum, CO, received $4 million -- $1 million in cash and $3 million as a matching gift.
- The State of South Dakota's Science and Technology Authority, to help secure a deep underground science and engineering laboratory at the former site of the Homestake Gold Mine.
- The University of South Dakota School of Medicine, which was renamed the Sanford School of Medicine of the University of South Dakota.
- The William Sanford Welcome Center at Bethesda Hospital in St. Paul, Minnesota.
- The T. Denny Sanford Pediatric Center at the Mayo Clinic in Rochester, Minnesota.
- Burnham Institute for Medical Research in La Jolla, CA and Orlando, FL received $50 million in January 2010, which was followed by a name change to Sanford-Burnham Medical Research Institute. This gift comes only 2 years after Sanford donated $20 million to a Sanford Center for Childhood Disease research at Burnham in La Jolla.
- Florida Hospital for Children in Orlando, Florida, which received $10 million.
- May 21, 2009, $6 million donation from T. Denny Sanford to help fund the TCF Bank Stadium on the University of Minnesota's campus.
- January 2009, T. Denny Sanford gave $100 million to create a breast cancer foundation in memory of his mother, Edith Sanford who died of breast cancer when he was only four years old.
- February 2013 Physics Today reports that Sanford gave $70 million to a physics lab in the defunct Homestake Mine (South Dakota) renamed the Sanford Underground Research Facility site of the discovery of the solar neutrino problem which won the Nobel Prize in Physics for Raymond Davis, Jr. in 2002.
- November 2013, University of California San Diego announced a $100 million gift from Sanford for the creation of the Sanford Stem Cell Clinal Center at UCSD, the second largest donation in the university's history.
University of Minnesota
T. Denny graduated from the University of Minnesota in 1958 with a degree in psychology. In 2003, Sanford and the University of Minnesota announced that Sanford would donate $35 million towards a proposed new football stadium for the Minnesota Gophers football team; a deal which would have given him full naming rights. However, that deal fell through in late 2003 when the two parties were unable to reach an agreement on terms of the funding. Later in 2005, TCF Bank won the bid to receive naming rights for the new stadium.
On May 21, 2009, the University of Minnesota accepted a $6 million donation to name the athletic hall of fame within TCF Bank Stadium in his honor. This donation was the final amount to close out the $86 million in private fundraising for the stadium.
- "Sanford Not On Billionaires List". 11 March 2010. Retrieved 5 April 2010.
- Lawrence, Tom (28 June 2006). "Sanford no stranger to giving in South Dakota". The Black Hills Pioneer (West River, South Dakota: Seaton Publishing). Retrieved 17 January 2009. "Thomas Denny Sanford was born Dec. 23, 1935, in St. Paul, Minn. He has never gone by the name Thomas and prefers his middle name."
- "The World's Billionaires". Forbes. 2008-03-05. Retrieved 2008-06-05.
- "Credit card's newest trick: 79.9 percent interest". Associated Press. 2009-12-17. Retrieved 2011-10-24.
- "The 50 Most Generous Philanthropists". Business Week Magazine. Retrieved 2007-03-07.
- Hamilton, Lindsay (2007-02-03). "Man Gives Away $400 Million to Hospitals". ABC News. Retrieved 2007-03-07.
- Leader, Argus (November 13 2013). "Philanthropist's gift a big bang for stem cell research". USA Today. Retrieved 13 November 2013.
- "T. Denny Sanford Press Conference Statement" (Press release). University of Minnesota. 2003-09-05. Retrieved 2007-03-07.
- Tibbetts, Than (2005-03-23). "U may reveal stadium plan". Minnesota Daily. Retrieved 2007-03-07.[dead link]
- "TCF Financial Corporation gives $35 million". University of Minnesota. 2005-03-24. Retrieved 2006-01-10.
- Post, Tim (May 21 2009). "T. Denny Sanford gives $6 million for Gopher football stadium". Retrieved 13 November 2013.