Thomas Denny Sanford (born December 23, 1935, in Saint Paul)[1] is a South Dakota businessman and philanthropist. He is the founder of First Premier Bank and the chairman and chief executive officer of its holding company, United National.
Sanford's first job was at age 8 working in his father's garment shop. He later became a student at the University of Minnesota, intending to become a doctor, but struggled with chemistry and switched majors, eventually graduating with a degree in psychology in 1958.[2] Sanford made his fortune as the owner of subprime credit card providers First PREMIER Bank and PREMIER Bankcard.[3] The bank is known for specializing in a wide range of high-interest, subprime credit cards marketed to people with low credit scores. In 2007, Sanford paid $4.5 million as part of a settlement with the New York Attorney General that alleged deceptive practices in marketing. Premier Bank offered a credit card with a 79.9% interest rate and a $300 limit, an amount cited by Senator Bernie Sanders as an example of "extortion and loan sharking".[4]
In 2018, Sanford ranked #1103 on the Forbes World's Billionaires list, with wealth listed at $2.2 billion.[5]
Personal life and education
Sanford was born in Saint Paul, Minnesota, in 1935, during the Great Depression. His mother died of breast cancer when he was four years old, his father when he was 20. Soon after graduating from high school, he was arrested for drinking and fighting and sentenced to juvenile detention; he was released early on condition he go to the University of Minnesota, from which he graduated in 1958. He has two sons from his first marriage.[6] In 1987, Sanford met his second wife, Colleen Anderson. They married in 1995 and divorced in 2005.[7]
Legal issues
In 2020, it was reported that Sanford was being investigated for possession of child pornography. Investigators obtained a search warrant before referring the case to the United States Department of Justice.[8] The investigation has led several institutions to reconsider his philanthropy.[9][10] The investigation was ongoing as of January 2022 at both the state and federal levels;[11] that May, the office of the South Dakota Attorney General announced it had ended the investigation without filing charges.[12] Records unsealed in April 2023 at the request of ProPublica revealed that an AOL email account that investigators linked to Sanford contained photos of nude girls estimated to be between 8 and 15 years old, but that it was established that others had access to the account, including indications that it had been hacked.[13][14]
List of philanthropic gifts
Sanford has pledged to give away his entire fortune during his lifetime, giving financial contributions to various higher education and healthcare institutions without a formal foundation or permanent staff.[15] In 2006, BusinessWeek magazine listed him as one of the 50 most generous philanthropists.[16] As of October 2018, he has donated over $1 billion.[17]
Statue of T. Denny Sanford
In 1999, Sanford agreed to match up to $2 million in donations to the Children's Inn and Children's Home Society of South Dakota, which cares for abused and neglected children, through 2002.[18]
In December 2001, Sanford gave $100,000 to the Sioux Empire United Way to help abused and neglected children.[19] Roundup River Ranch, an affiliate of Paul Newman's Association of Hole in the Wall Camps, in Gypsum, Colorado, received $4 million.
In 2003, Sanford and the University of Minnesota announced that Sanford would donate $35 million toward a proposed new football stadium for the Minnesota Gophers football team, a deal that would have given him full naming rights.[21] The deal fell through in late 2003 when the parties were unable to reach an agreement on terms of the funding. In 2005, TCF Bank won the bid for the naming rights.[22][23]
In 2004, Sanford announced a gift of $16 million to what became Sanford Children's Hospital. Children's care was one of the five centers of excellence at what was then Sioux Valley Medical Center.[24] The University of South Dakota School of Medicine was renamed the Sanford School of Medicine of the University of South Dakota after the donation. The William Sanford Welcome Center at Bethesda Hospital in St. Paul and the T. Denny Sanford Pediatric Center at the Mayo Clinic were also later named following sizeable donations from Sanford.
On February 3, 2007, Sanford announced a $400 million gift to Sioux Valley Hospitals and Health System, which renamed itself Sanford Health.[25] The gift was featured on The Chronicle of Philanthropy "Philanthropy 50: Americans Who Gave the Most in 2007."[26]
In 2008, Sanford founded the Sanford Harmony Program at Arizona State University's T. Denny Sanford School of Social and Family Dynamics. The San Diego Consortium for Regenerative Medicine in La Jolla, California received $30 million, changing its name to the Sanford Consortium for Regenerative Medicine.
In 2009, Sanford made a $6 million donation to help fund the TCF Bank Stadium on the University of Minnesota campus.[27] He also gave $100 million to create a breast cancer foundation in memory of his mother. The University of Minnesota accepted a $6 million donation to name the athletic hall of fame within TCF Bank Stadium for Sanford.[28]
In 2010, Sanford's gift to Mary Lou Fulton Teachers College established the Sanford Inspire Program for teacher preparation at Arizona State University. ASU and National University housed the program concurrently until 2017, after which it was hosted exclusively by National University. The Burnham Institute for Medical Research in La Jolla, California, and Orlando, Florida, received $50 million in 2010, which was followed by a name change to Sanford-Burnham Medical Research Institute.
Sanford was named Philanthropist of the Year in 2011 by the Arizona State University Alumni Association.
In 2013, Physics Today reported that Sanford gave $70 million to a physics lab in the defunct Homestake Mine in South Dakota, renamed the Sanford Underground Research Facility.[29][30] The University of California, San Diego also announced a $100 million gift from Sanford for the creation of the Sanford Stem Cell Clinical Center at UCSD, the second-largest donation in the university's history.[31] Sanford pledged $10 million to the Crazy Horse Memorial in South Dakota following a $10 million matching pledge made by Sanford in 2007.[32]
In 2014, Sanford gave $125 million to Sanford Health to create the Imagenetics program.[33] He also gave $1 million to National University to create the Sanford Education Center.[34] He later founded The Sanford Institute of Philanthropy at John F. Kennedy University that month via a $28 million donation to the National University System for initiatives within the Sanford Education Center.[35] The National University's School of Education was renamed the Sanford College of Education after the donation.[36] The Denny Sanford PREMIER Center in Sioux Falls, South Dakota, was also named after donations from Sanford.[37]
In 2018, Sanford founded an endowment within the Horatio Alger Fund of $30 million for college scholarships to students who have faced significant financial or healthcare obstacles in their education.[38] He also donated $30 million toward a remodeling of the San Diego Children's Zoo.[39]
In 2018, Sanford donated $1 million to support an endowment for Ava’s House by Sanford, a multigenerational hospice facility that offers one of only four in-patient hospice programs for children and young adults.[40]
In 2019, Sanford donated $350 million to National University in addition to $150 million he had given previously. In honor of the donation, National University announced in 2019 that it would change its name on July 1, 2020 to Sanford National University,[41] but the name change was placed on hold after Sanford became the subject of a South Dakota child pornography investigation.[42]
In 2019, Sanford donated $25 million to support PHASeR (PHArmacocgenomic testing for Veterans), a program Sanford Health created in partnership with the US Department of Veteran Affairs that offers VA patients free pharmacogenetic (PGx) testing.[43]
In 2021, Sanford donated $300 million to Sanford Health to expand opportunities in graduate medical education and community health and wellness, positioning Sanford Health as a global leader in rural care delivery.
In 2021, Sanford donated $350 million to Sanford Health to create a virtual care center, with a focus on providing more accessible care in rural and underserved areas of the Midwest.[44]
^Lawrence, Tom (June 28, 2006). . The Black Hills Pioneer. West River, South Dakota: Seaton Publishing. Archived from the original on June 8, 2011. Retrieved January 17, 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.
^Hildebrandt, Kelly (January 30, 2005), T. Denny Sanford: The Quiet Millionaire, Argus Leader, pp. 1, 4
^"The World's Billionaires". Forbes. March 5, 2008. Retrieved June 5, 2008.
^"Senator Sanders Filibuster | C-SPAN.org". www.c-span.org. Retrieved July 8, 2021.
^"Forbes Billionaires 2020". Forbes. April 1, 2020. Retrieved September 2, 2020.
^Whelan, David (September 22, 2007). "Dying Broke". Forbes.
^"T. DENNY SANFORD v. COLLEEN ANDERSON SANFORD". Justia Law.
^Arnsdorf, Robert Faturechi,Isaac. "Billionaire T. Denny Sanford Was Under Investigation for Child Pornography". ProPublica.
^"National University holds off on name change after reports of T. Denny Sanford investigation". La Jolla Light. September 4, 2020. Retrieved January 3, 2021.
^Fugleberg, Jeremy (August 31, 2020). "Sanford Health distances itself from child porn investigation into top patron T. Denny Sanford: 'This matter does not involve our health system'". Duluth News Tribune. Retrieved January 3, 2021.
^Faturechi, Isaac; Arnsdorf, Robert (January 12, 2022). "Child Porn Probe of Billionaire Businessman Denny Sanford Continues at State and Federal Level, Court Records Show". ProPublican. Retrieved January 28, 2022.
^Faturechi, Robert (May 31, 2022). "Child Porn Possession Investigation Into South Dakota Billionaire Closed With No Charges". ProPublica.
^Faturechi, Robert (April 28, 2023). "Photos of Nude Children in Billionaire's Email Prompted Investigation". ProPublica.
^"Affidavits: Child porn found in email account linked to T. Denny Sanford". Dakota NewsNow. April 27, 2023.
^Callahan, David (2017), The Givers: Wealth, Power, and Philanthropy in a New Gilded Age, New York: Alfred A. Knopf, p. 267
^. BusinessWeek. Archived from the original on February 27, 2007. Retrieved March 7, 2007.
^Springer, Patrick (October 4, 2018). "T. Denny Sanford's donated over $1 billion, and he still made Forbes billionaires list". West Fargo Pioneer. Fargo, North Dakota. Retrieved March 17, 2019.
^Gerrietts, Jennifer (April 27, 1999), 3 donors to match $3.5 million in gifts to children's homes, Argus Leader, p. 31
^Tucker, Denise D. (December 14, 2001), $100,000 gift to help children, Argus Leader, p. 17
^"Our History". Sanford Underground Research Facility. Retrieved July 18, 2022.
^Associated Press (January 29, 2018), Sanford donates $30 million for college scholarships
^"$30 million gift for San Diego Zoo". San Diego Union-Tribune.
^"Sanford Health Foundation | Patient Stories". Sanford Health Foundation. Retrieved October 6, 2022.
^Jedeur-Palmgren, Max. "T. Denny Sanford Gives $350 Million To National University, To Be Renamed In His Honor". Forbes.
^"National University holds off on name change after reports of T. Denny Sanford investigation". La Jolla Light. September 4, 2020. Retrieved January 3, 2021..
^"Veterans Genetic Testing". Imagenetics. Retrieved October 6, 2022.
^"New gift to Sanford Health will fund virtual care center". Sanford Health News. September 8, 2021. Retrieved October 6, 2022.
denny, sanford, thomas, denny, sanford, born, december, 1935, saint, paul, south, dakota, businessman, philanthropist, founder, first, premier, bank, chairman, chief, executive, officer, holding, company, united, national, left, meets, volunteersborn, 1935, de. Thomas Denny Sanford born December 23 1935 in Saint Paul 1 is a South Dakota businessman and philanthropist He is the founder of First Premier Bank and the chairman and chief executive officer of its holding company United National T Denny SanfordT Denny Sanford left meets volunteersBorn 1935 12 23 December 23 1935 age 87 Saint Paul Minnesota United StatesAlma materUniversity of MinnesotaOccupation s Owner and founder of First Premier BankChief executive officer of United National Corp SpousesAnne m 1960 div 1982 wbr Colleen Anderson m 1995 div 2005 wbr ChildrenScottBillWebsitewww wbr sanfordinstituteofphilanthropy wbr org Contents 1 Career 2 Personal life and education 2 1 Legal issues 3 List of philanthropic gifts 4 See also 5 ReferencesCareer EditSanford s first job was at age 8 working in his father s garment shop He later became a student at the University of Minnesota intending to become a doctor but struggled with chemistry and switched majors eventually graduating with a degree in psychology in 1958 2 Sanford made his fortune as the owner of subprime credit card providers First PREMIER Bank and PREMIER Bankcard 3 The bank is known for specializing in a wide range of high interest subprime credit cards marketed to people with low credit scores In 2007 Sanford paid 4 5 million as part of a settlement with the New York Attorney General that alleged deceptive practices in marketing Premier Bank offered a credit card with a 79 9 interest rate and a 300 limit an amount cited by Senator Bernie Sanders as an example of extortion and loan sharking 4 In 2018 Sanford ranked 1103 on the Forbes World s Billionaires list with wealth listed at 2 2 billion 5 Personal life and education EditSanford was born in Saint Paul Minnesota in 1935 during the Great Depression His mother died of breast cancer when he was four years old his father when he was 20 Soon after graduating from high school he was arrested for drinking and fighting and sentenced to juvenile detention he was released early on condition he go to the University of Minnesota from which he graduated in 1958 He has two sons from his first marriage 6 In 1987 Sanford met his second wife Colleen Anderson They married in 1995 and divorced in 2005 7 Legal issues Edit In 2020 it was reported that Sanford was being investigated for possession of child pornography Investigators obtained a search warrant before referring the case to the United States Department of Justice 8 The investigation has led several institutions to reconsider his philanthropy 9 10 The investigation was ongoing as of January 2022 at both the state and federal levels 11 that May the office of the South Dakota Attorney General announced it had ended the investigation without filing charges 12 Records unsealed in April 2023 at the request of ProPublica revealed that an AOL email account that investigators linked to Sanford contained photos of nude girls estimated to be between 8 and 15 years old but that it was established that others had access to the account including indications that it had been hacked 13 14 List of philanthropic gifts EditSanford has pledged to give away his entire fortune during his lifetime giving financial contributions to various higher education and healthcare institutions without a formal foundation or permanent staff 15 In 2006 BusinessWeek magazine listed him as one of the 50 most generous philanthropists 16 As of October 2018 he has donated over 1 billion 17 Statue of T Denny SanfordIn 1999 Sanford agreed to match up to 2 million in donations to the Children s Inn and Children s Home Society of South Dakota which cares for abused and neglected children through 2002 18 In December 2001 Sanford gave 100 000 to the Sioux Empire United Way to help abused and neglected children 19 Roundup River Ranch an affiliate of Paul Newman s Association of Hole in the Wall Camps in Gypsum Colorado received 4 million In 2006 Sanford donated 70 million 20 to 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 In 2003 Sanford and the University of Minnesota announced that Sanford would donate 35 million toward a proposed new football stadium for the Minnesota Gophers football team a deal that would have given him full naming rights 21 The deal fell through in late 2003 when the parties were unable to reach an agreement on terms of the funding In 2005 TCF Bank won the bid for the naming rights 22 23 In 2004 Sanford announced a gift of 16 million to what became Sanford Children s Hospital Children s care was one of the five centers of excellence at what was then Sioux Valley Medical Center 24 The University of South Dakota School of Medicine was renamed the Sanford School of Medicine of the University of South Dakota after the donation The William Sanford Welcome Center at Bethesda Hospital in St Paul and the T Denny Sanford Pediatric Center at the Mayo Clinic were also later named following sizeable donations from Sanford On February 3 2007 Sanford announced a 400 million gift to Sioux Valley Hospitals and Health System which renamed itself Sanford Health 25 The gift was featured on The Chronicle of Philanthropy Philanthropy 50 Americans Who Gave the Most in 2007 26 In 2008 Sanford founded the Sanford Harmony Program at Arizona State University s T Denny Sanford School of Social and Family Dynamics The San Diego Consortium for Regenerative Medicine in La Jolla California received 30 million changing its name to the Sanford Consortium for Regenerative Medicine In 2009 Sanford made a 6 million donation to help fund the TCF Bank Stadium on the University of Minnesota campus 27 He also gave 100 million to create a breast cancer foundation in memory of his mother The University of Minnesota accepted a 6 million donation to name the athletic hall of fame within TCF Bank Stadium for Sanford 28 In 2010 Sanford s gift to Mary Lou Fulton Teachers College established the Sanford Inspire Program for teacher preparation at Arizona State University ASU and National University housed the program concurrently until 2017 after which it was hosted exclusively by National University The Burnham Institute for Medical Research in La Jolla California and Orlando Florida received 50 million in 2010 which was followed by a name change to Sanford Burnham Medical Research Institute Sanford was named Philanthropist of the Year in 2011 by the Arizona State University Alumni Association In 2013 Physics Today reported that Sanford gave 70 million to a physics lab in the defunct Homestake Mine in South Dakota renamed the Sanford Underground Research Facility 29 30 The University of California San Diego also announced a 100 million gift from Sanford for the creation of the Sanford Stem Cell Clinical Center at UCSD the second largest donation in the university s history 31 Sanford pledged 10 million to the Crazy Horse Memorial in South Dakota following a 10 million matching pledge made by Sanford in 2007 32 In 2014 Sanford gave 125 million to Sanford Health to create the Imagenetics program 33 He also gave 1 million to National University to create the Sanford Education Center 34 He later founded The Sanford Institute of Philanthropy at John F Kennedy University that month via a 28 million donation to the National University System for initiatives within the Sanford Education Center 35 The National University s School of Education was renamed the Sanford College of Education after the donation 36 The Denny Sanford PREMIER Center in Sioux Falls South Dakota was also named after donations from Sanford 37 In 2018 Sanford founded an endowment within the Horatio Alger Fund of 30 million for college scholarships to students who have faced significant financial or healthcare obstacles in their education 38 He also donated 30 million toward a remodeling of the San Diego Children s Zoo 39 In 2018 Sanford donated 1 million to support an endowment for Ava s House by Sanford a multigenerational hospice facility that offers one of only four in patient hospice programs for children and young adults 40 In 2019 Sanford donated 350 million to National University in addition to 150 million he had given previously In honor of the donation National University announced in 2019 that it would change its name on July 1 2020 to Sanford National University 41 but the name change was placed on hold after Sanford became the subject of a South Dakota child pornography investigation 42 In 2019 Sanford donated 25 million to support PHASeR PHArmacocgenomic testing for Veterans a program Sanford Health created in partnership with the US Department of Veteran Affairs that offers VA patients free pharmacogenetic PGx testing 43 In 2021 Sanford donated 300 million to Sanford Health to expand opportunities in graduate medical education and community health and wellness positioning Sanford Health as a global leader in rural care delivery In 2021 Sanford donated 350 million to Sanford Health to create a virtual care center with a focus on providing more accessible care in rural and underserved areas of the Midwest 44 See also EditList of people from South Dakota List of University of Minnesota peopleReferences Edit Lawrence Tom June 28 2006 Sanford no stranger to giving in South Dakota The Black Hills Pioneer West River South Dakota Seaton Publishing Archived from the original on June 8 2011 Retrieved January 17 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 Hildebrandt Kelly January 30 2005 T Denny Sanford The Quiet Millionaire Argus Leader pp 1 4 The World s Billionaires Forbes March 5 2008 Retrieved June 5 2008 Senator Sanders Filibuster C SPAN org www c span org Retrieved July 8 2021 Forbes Billionaires 2020 Forbes April 1 2020 Retrieved September 2 2020 Whelan David September 22 2007 Dying Broke Forbes T DENNY SANFORD v COLLEEN ANDERSON SANFORD Justia Law Arnsdorf Robert Faturechi Isaac Billionaire T Denny Sanford Was Under Investigation for Child Pornography ProPublica National University holds off on name change after reports of T Denny Sanford investigation La Jolla Light September 4 2020 Retrieved January 3 2021 Fugleberg Jeremy August 31 2020 Sanford Health distances itself from child porn investigation into top patron T Denny Sanford This matter does not involve our health system Duluth News Tribune Retrieved January 3 2021 Faturechi Isaac Arnsdorf Robert January 12 2022 Child Porn Probe of Billionaire Businessman Denny Sanford Continues at State and Federal Level Court Records Show ProPublican Retrieved January 28 2022 Faturechi Robert May 31 2022 Child Porn Possession Investigation Into South Dakota Billionaire Closed With No Charges ProPublica Faturechi Robert April 28 2023 Photos of Nude Children in Billionaire s Email Prompted Investigation ProPublica Affidavits Child porn found in email account linked to T Denny Sanford Dakota NewsNow April 27 2023 Callahan David 2017 The Givers Wealth Power and Philanthropy in a New Gilded Age New York Alfred A Knopf p 267 The 50 Most Generous Philanthropists BusinessWeek Archived from the original on February 27 2007 Retrieved March 7 2007 Springer Patrick October 4 2018 T Denny Sanford s donated over 1 billion and he still made Forbes billionaires list West Fargo Pioneer Fargo North Dakota Retrieved March 17 2019 Gerrietts Jennifer April 27 1999 3 donors to match 3 5 million in gifts to children s homes Argus Leader p 31 Tucker Denise D December 14 2001 100 000 gift to help children Argus Leader p 17 Our History Sanford Underground Research Facility Retrieved July 18 2022 T Denny Sanford Press Conference Statement Press release University of Minnesota September 5 2003 Retrieved March 7 2007 permanent dead link Tibbetts Than March 23 2005 U may reveal stadium plan Minnesota Daily Archived from the original on November 30 2005 Retrieved March 7 2007 TCF Financial Corporation gives 35 million University of Minnesota March 24 2005 Archived from the original on January 13 2006 Retrieved January 10 2006 Harriman Peter February 1 2004 Sioux Valley gets 16 million Argus Leader p 1 Hamilton Lindsay February 3 2007 Man Gives Away 400 Million to Hospitals ABC News Retrieved March 7 2007 The Philanthropy 50 Americans Who Gave the Most in 2007 The Chronicle of Philanthropy March 10 2010 Post Tim May 21 2009 T Denny Sanford gives 6 million for Gopher football stadium MPR News Retrieved August 12 2014 Post Tim May 21 2009 T Denny Sanford gives 6 million for Gopher football stadium Retrieved November 13 2013 Home Sanford Underground Research Facility sanfordlab org The Nobel Prize in Physics 2002 NobelPrize org Argus Leader November 13 2013 Philanthropist s gift a big bang for stem cell research USA Today Retrieved November 13 2013 Naylor Jennifer December 12 2013 Philanthropist pledges 10 million for Crazy Horse Memorial Rapid City Journal Retrieved December 17 2013 Sanford to start construction on Imagenetics building Argus Leader June 24 2015 p 6 Sanford gift creates education center at National U San Diego Union Tribune January 16 2014 Sanford Institute of Philanthropy Department Page John F Kennedy University Retrieved January 3 2021 Sanford College of Education dedicated San Diego Union Tribune December 11 2015 http www keloland com newsdetail cfm events center deal 2075m over 25 years id 135315 Associated Press January 29 2018 Sanford donates 30 million for college scholarships 30 million gift for San Diego Zoo San Diego Union Tribune Sanford Health Foundation Patient Stories Sanford Health Foundation Retrieved October 6 2022 Jedeur Palmgren Max T Denny Sanford Gives 350 Million To National University To Be Renamed In His Honor Forbes National University holds off on name change after reports of T Denny Sanford investigation La Jolla Light September 4 2020 Retrieved January 3 2021 Veterans Genetic Testing Imagenetics Retrieved October 6 2022 New gift to Sanford Health will fund virtual care center Sanford Health News September 8 2021 Retrieved October 6 2022 Portals Biography Business and economics United States Retrieved from https en wikipedia org w index php title T Denny Sanford amp oldid 1156362033, wikipedia, wiki, book, books, library,
