T. Denny Sanford

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T. Denny Sanford
A bronze statue of a late middle-aged man holding up his hand at waist level.
Statue of Sanford in front of the Sanford USD Medical Center.
Born Thomas Denny Sanford
(1935-12-23) December 23, 1935 (age 78)
Saint Paul, Minnesota
Occupation

Owner and Founder of First Premier Bank

CEO of United National Corp
Salary In excess of $1.0 million USD
Net worth US $1.4 billion (2012)[1]

Thomas Denny Sanford (born 23 December 1935 in Saint Paul)[2] is a South Dakota businessman and philanthropist. He is currently the chairman and CEO of United National Corp.

Business ventures[edit]

Sanford made his fortune as the owner of First PREMIER Bank and PREMIER Bankcard, both among the nation's leading credit card providers.[3] Premier Bankcard issues low-limit Mastercards and Visas to credit-impaired customers, charging higher-than-average interest rates and fees.[4] 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.[5] The Denny Sanford PREMIER Center in Sioux Falls, South Dakota, is named for him.[6]

Philanthropy[edit]

BusinessWeek magazine listed him as one of the top 50 most generous philanthropists in November, 2006.[7]

On Saturday, February 3, 2007, Sanford announced a $400 million gift to Sioux Valley Hospitals and Health System, which renamed itself Sanford Health.[8] 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:

University of Minnesota[edit]

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.[14] 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.[15][16]

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.[17]

References[edit]

  1. ^ "Sanford Not On Billionaires List". 11 March 2010. Retrieved 5 April 2010. 
  2. ^ 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. 
  3. ^ "The World's Billionaires". Forbes. 2008-03-05. Retrieved 2008-06-05. 
  4. ^ Choi, Candice (2009-12-17). "Credit card's newest trick: 79.9 percent interest". Associated Press. Retrieved 2011-10-24. 
  5. ^ Whelan, David. Forbes http://www.forbes.com/forbes/2007/1008/232.html |url= missing title (help). 
  6. ^ http://www.keloland.com/newsdetail.cfm/events-center-deal-2075m-over-25-years/?id=135315
  7. ^ "The 50 Most Generous Philanthropists". Business Week Magazine. Retrieved 2007-03-07. 
  8. ^ Hamilton, Lindsay (2007-02-03). "Man Gives Away $400 Million to Hospitals". ABC News. Retrieved 2007-03-07. 
  9. ^ Post, Tim. "T. Denny Sanford gives $6 million for Gopher football stadium". MPR News. Retrieved 12 August 2014. 
  10. ^ http://sanfordlab.org
  11. ^ http://www.nobelprize.org/nobel_prizes/physics/laureates/2002/
  12. ^ Leader, Argus (November 13, 2013). "Philanthropist's gift a big bang for stem cell research". USA Today. Retrieved 13 November 2013. 
  13. ^ Naylor, Jennifer. "Philanthropist pledges $10 million for Crazy Horse Memorial". Rapid City Journal. Retrieved 17 December 2013. 
  14. ^ "T. Denny Sanford Press Conference Statement" (Press release). University of Minnesota. 2003-09-05. Retrieved 2007-03-07. 
  15. ^ Tibbetts, Than (2005-03-23). "U may reveal stadium plan". Minnesota Daily. Retrieved 2007-03-07. [dead link]
  16. ^ "TCF Financial Corporation gives $35 million". University of Minnesota. 2005-03-24. Retrieved 2006-01-10. 
  17. ^ Post, Tim (May 21, 2009). "T. Denny Sanford gives $6 million for Gopher football stadium". Retrieved 13 November 2013. 

External links[edit]