T. Denny Sanford
Encyclopedia
Thomas Denny Sanford is a South Dakota
businessman and philanthropist. He is currently the chairman and CEO of United National Corp.
and Premier Bankcard, both among the nation's leading credit card providers.
Sanford's net worth is roughly $1.0 billion, and he is ranked as #701 in Forbes
list of richest people in the world. Until prevented by federal law, the credit cards from banks controlled by Sanford charged $256 in fees per year for a card with a $250 credit limit. In response to the law banning such fees, the bank now issues cards carrying an interest rate of 79.9%, the nation's highest, on a card with a $300 limit. Sanford and his business entities have a history of violations of Federal rules of banking practice.
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:
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.
South Dakota
South Dakota is a state located in the Midwestern region of the United States. It is named after the Lakota and Dakota Sioux American Indian tribes. Once a part of Dakota Territory, South Dakota became a state on November 2, 1889. The state has an area of and an estimated population of just over...
businessman and philanthropist. He is currently the chairman and CEO of United National Corp.
Business ventures
Sanford made his fortune as the owner of First Premier BankFirst Premier Bank
First Premier Bank, headquartered in Sioux Falls, South Dakota, is the 10th largest issuer of Visa and MasterCard brand credit cards in the United States...
and Premier Bankcard, both among the nation's leading credit card providers.
Sanford's net worth is roughly $1.0 billion, and he is ranked as #701 in Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
list of richest people in the world. Until prevented by federal law, the credit cards from banks controlled by Sanford charged $256 in fees per year for a card with a $250 credit limit. In response to the law banning such fees, the bank now issues cards carrying an interest rate of 79.9%, the nation's highest, on a card with a $300 limit. Sanford and his business entities have a history of violations of Federal rules of banking practice.
Philanthropy
Sanford has been as generous in his philanthropy as he has been successful in his business ventures. BusinessWeek magazineBusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
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
Sanford Health-MeritCare
Sanford Health is a non-profit, integrated health care delivery system, with its headquarters based in Sioux Falls, South Dakota with additional offices in Fargo, North Dakota. It was formed on with the merger of Sanford Health, based out of Sioux Falls and MeritCare Health System, based out of...
, which renamed itself Sanford Health
Sanford Health-MeritCare
Sanford Health is a non-profit, integrated health care delivery system, with its headquarters based in Sioux Falls, South Dakota with additional offices in Fargo, North Dakota. It was formed on with the merger of Sanford Health, based out of Sioux Falls and MeritCare Health System, based out of...
. 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,
- The State of South Dakota's Science and Technology Authority, to help secure a deep underground science and engineering laboratoryDeep Underground Science and Engineering LaboratoryThe Deep Underground Science and Engineering Laboratory, or DUSEL is a major project under consideration by the National Science Foundation. DUSEL will be a series of large laboratories, caverns, and cleanrooms serving the field of underground science...
at the former site of the Homestake Gold MineHomestake Mine (South Dakota)The Homestake Mine was a deep underground gold mine located in Lead, South Dakota. Until it closed in 2002 it was the largest and deepest gold mine in North America, producing more than 40 million ounces of gold. The Homestake Mine is famous in scientific circles for being the site at which the...
, and - The University of South Dakota School of Medicine, which was renamed the Sanford School of Medicine of the University of South DakotaUniversity of South DakotaThe University of South Dakota ', the state’s oldest university, was founded in 1862 and classes began in 1882. Located in Vermillion, South Dakota, United States, USD is home to South Dakota's only medical school and law school. USD is governed by the South Dakota Board of Regents, and its current...
. - The William Sanford Welcome Center at Bethesda Hospital in St. Paul, Minnesota.
- The T. Denny Sanford Pediatric Center at the Mayo ClinicMayo ClinicMayo Clinic is a not-for-profit medical practice and medical research group specializing in treating difficult patients . Patients are referred to Mayo Clinic from across the U.S. and the world, and it is known for innovative and effective treatments. Mayo Clinic is known for being at the top of...
in Rochester, MinnesotaRochester, MinnesotaRochester is a city in the U.S. state of Minnesota and is the county seat of Olmsted County. Located on both banks of the Zumbro River, The city has a population of 106,769 according to the 2010 United States Census, making it Minnesota's third-largest city and the largest outside of the...
. - Burnham Institute for Medical Research in La Jolla, CA and Orlando, FL received $50 million dollars 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.
University of Minnesota
T. Denny graduated from the University of MinnesotaUniversity of Minnesota
The University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States. It is the oldest and largest part of the University of Minnesota system and has the fourth-largest main campus student body in the United States, with 52,557...
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
American football
American football is a sport played between two teams of eleven with the objective of scoring points by advancing the ball into the opposing team's end zone. Known in the United States simply as football, it may also be referred to informally as gridiron football. The ball can be advanced by...
stadium for the Minnesota Gophers football team
Minnesota Golden Gophers football
The University of Minnesota Golden Gophers are one of the oldest programs in college football history. They compete in the NCAA Division I Football Bowl Subdivision and the Big Ten Conference. The Golden Gophers have claimed six national championships and have an all time record of 646–481–44 as...
; 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
TCF Bank
TCF Bank is the wholly owned banking subsidiary of TCF Financial Corporation, a bank holding company headquartered in Wayzata, Minnesota. TCF Bank is nationally chartered and operates 440 bank branches....
won the bid to receive naming rights for the new stadium
TCF Bank Stadium
TCF Bank Stadium, sometimes referred to as either "The Bank" or "The Gopher Hole," is the football stadium for the Minnesota Golden Gophers college football team at the University of Minnesota in Minneapolis, Minnesota...
.
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.