Hailey Tran
T. Denny Sanford is a businessman and philanthropist from South Dakota. He is the founder of First Premier Bank and the chairman and CEO of United National, its holding company. Sanford has donated large sums of money to hospitals and health systems, including a $400 million gift to Sioux Valley Hospitals and Health System (now Sanford Health) in 2007. He has also founded educational initiatives and programs, such as the Sanford Institute of Philanthropy at John F. Kennedy University and the Sanford Harmony Program at Arizona State University. With a focus on health-related philanthropy, Sanford has pledged to give away his entire $2.5 billion fortune to charity before he dies.
| Characteristics | Values |
|---|---|
| Full Name | Thomas Denny Sanford |
| Birth Date | December 23, 1935 |
| Birth Place | Saint Paul, Minnesota |
| Occupation | Businessman and philanthropist |
| Notable For | Founder of First Premier Bank, donations to healthcare and education |
| Donations | Over $1 billion to Sanford Health, $28 million to the National University System, $4.5 million as a settlement to the New York Attorney General |
| Net Worth | $2.5 billion |
| Philanthropy | Signed the Giving Pledge, removed after a child porn probe |
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What You'll Learn
- T. Denny Sanford donated $400 million to the Sioux Valley Hospitals and Health System in 2007
- Sanford Health employs Rushmore Service Center, a company owned by Denny Sanford, for debt collection
- Sanford founded the Sanford Institute of Philanthropy at John F. Kennedy University
- Sanford has given $1.6 billion to charity and pledged to give away his $2.5 billion fortune
- Sanford's donations led to the William Sanford Welcome Center at Bethesda Hospital being named after him
T. Denny Sanford donated $400 million to the Sioux Valley Hospitals and Health System in 2007
T. Denny Sanford, a billionaire philanthropist from South Dakota, donated $400 million to the Sioux Valley Hospitals and Health System in 2007. This was the largest gift ever made to a hospital at the time, according to the Center for Philanthropy at Indiana University.
Sanford's donation had several goals: to build five pediatric clinics across the country, expand research efforts, particularly in pediatrics, construct a healthcare campus with over 20 facilities, and identify a promising area of medical research to pursue. The donation also led to the health system being renamed Sanford Health, with the goal of becoming a national institution that rivals Johns Hopkins and the Mayo Clinic.
This was not Sanford's first donation to the health system. In 2005, he gave $16 million to build the Sanford Children's Hospital, and he also contributed $20 million to expand a project with the University of South Dakota Medical School. Sanford has a long history of philanthropy, particularly in South Dakota, and has expressed his desire to give away his entire fortune during his lifetime.
Sanford's wealth is estimated to be around $2 billion, largely accumulated through his ownership of subprime credit card providers First PREMIER Bank and PREMIER Bankcard, which offer high-interest credit cards to people with low credit scores. Despite his philanthropic efforts, Sanford has faced investigations for possession of child pornography, which have led some institutions to reconsider his donations.
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Sanford Health employs Rushmore Service Center, a company owned by Denny Sanford, for debt collection
T. Denny Sanford is a businessman and philanthropist from South Dakota. He is the founder of First Premier Bank and the chairman and CEO of its holding company, United National. In 2007, Sanford donated $400 million to Sioux Valley Hospitals and Health System, which renamed itself Sanford Health. Since then, he has donated over $600 million to the healthcare company, which has helped it quadruple in size.
Sanford Health has deep ties with T. Denny Sanford, who is its major benefactor. Sanford Health employs Rushmore Service Center, a company owned by Denny Sanford, for a portion of its debt-collection business. Sanford Health also uses First Premier Bank and Premier Bankcard, which are also owned by Sanford, for banking, check processing, and a limited number of corporate credit cards.
Cindy Morrison, Sanford Health's executive vice president of marketing, said that the hospital network chooses its vendors, including Denny Sanford's companies, based on their ability to deliver quality service at a fair price. She also mentioned that hospitals' bad debts are typically 4 to 6 percent of gross revenue, which could mean that Sanford Health sends over $125 million a year in unpaid bills to its collection vendors.
In addition to its debt-collection business, Sanford Health has committed millions of dollars for naming rights at civic arenas that promote Sanford's name and bank brand. The company also spent millions more to buy a Sioux Falls commercial building from Premier Bankcard. Furthermore, Denny Sanford's longtime personal lawyer joined the Sanford Health senior executive team in 2010, and two of his companies were partners in a naming rights deal for a new civic center in Sioux Falls.
Sanford Health's relationship with T. Denny Sanford has come under scrutiny, particularly regarding the company's financial practices. Despite this, the company continues to expand its operations and pursue ambitious acquisition strategies.
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Sanford founded the Sanford Institute of Philanthropy at John F. Kennedy University
T. Denny Sanford is a well-known philanthropist and businessman from South Dakota. He has pledged to give away his entire fortune during his lifetime, and as of October 2018, he has donated over $1 billion. Sanford founded the Sanford Institute of Philanthropy at John F. Kennedy University with a $28 million donation to the National University System. This institute was established to offer a range of high-quality educational opportunities and strengthen nonprofit organizations. Sanford's donations have had a significant impact on the university, with the National University's School of Education being renamed the Sanford College of Education.
John F. Kennedy University was a private university based in California. The university was founded in 1965 to cater to non-traditional higher education students, offering degrees and certificates. The university did not have a traditional campus, opting instead for distance education and blended learning. The College of Psychology and Holistic Studies, for example, offered experiential learning through community-based clinical internship programs.
Sanford's philanthropy extends beyond the Sanford Institute of Philanthropy at John F. Kennedy University. In 2007, he donated $400 million to the South Dakota Sioux Valley Hospitals & Health System, which renamed itself Sanford Health. This donation was featured in The Chronicle of Philanthropy's list of "Philanthropy 50: Americans Who Gave the Most in 2007." Sanford has also made significant donations to various educational institutions, such as Arizona State University, where he established the Sanford Inspire Program for teacher preparation.
In addition to his philanthropic endeavours, Sanford is known for his business ventures. He is the founder of First Premier Bank and the chairman and CEO of its holding company, United National. Sanford has also been recognised for his contributions to healthcare, with institutions such as the University of South Dakota School of Medicine being renamed after his donations. However, it is important to note that in 2020, Sanford faced legal scrutiny for possession of child pornography, leading some institutions to reconsider his philanthropy.
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Sanford has given $1.6 billion to charity and pledged to give away his $2.5 billion fortune
T. Denny Sanford, born on December 23, 1935, in Saint Paul, is a South Dakota businessman and philanthropist. He made his fortune as the owner of subprime credit card providers First PREMIER Bank and PREMIER Bankcard. Sanford has given $1.6 billion to charity and pledged to give away his entire $2.5 billion fortune during his lifetime.
Sanford's philanthropy is largely focused on healthcare and education. In 2007, Sanford donated $400 million to the South Dakota Sioux Valley Hospitals & Health System, which renamed itself Sanford Health. Since then, he has donated over $600 million to the healthcare company. Sanford has also made significant donations to various educational institutions, including Arizona State University, the University of California, San Diego, and the University of Minnesota.
In addition to his donations to healthcare and education, Sanford has also supported other causes close to his heart. In 2009, he donated $6 million to help fund the stadium on the University of Minnesota campus, and in 2010, he gave $50 million to the Burnham Institute for Medical Research, which was renamed the Sanford-Burnham Medical Research Institute. In 2013, Sanford gave $70 million to a physics lab in the defunct Homestake Mine in South Dakota, which was renamed the Sanford Underground Research Facility.
Sanford's philanthropic efforts have been recognized by various organizations. In 2006, BusinessWeek magazine listed him as one of the 50 most generous philanthropists, and in 2011, he was named Philanthropist of the Year by the Arizona State University Alumni Association. Sanford's donations have had a significant impact on the organizations and institutions he has supported, helping them to expand their operations and pursue ambitious initiatives.
Sanford's commitment to giving back is evident in his pledge to donate his entire fortune during his lifetime. His contributions to healthcare, education, and other worthy causes have made a lasting impact and inspired others to follow in his footsteps. Sanford's example highlights the power of philanthropy to drive positive change and improve lives.
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Sanford's donations led to the William Sanford Welcome Center at Bethesda Hospital being named after him
Thomas Denny Sanford, born in 1935 in St. Paul, Minnesota, is a well-known businessman and philanthropist from South Dakota. Sanford has pledged to donate his entire $2.5 billion fortune to charity before he dies. Sanford's philanthropy is largely focused on health and education.
Sanford's sizeable donations have led to numerous institutions being named after him, including the Sanford School of Medicine of the University of South Dakota, the T. Denny Sanford Pediatric Center at the Mayo Clinic, and the Sanford Institute of Philanthropy at John F. Kennedy University.
One of the most notable instances of Sanford's philanthropy is his $400 million donation to Sioux Valley Hospitals and Health System in 2007, which led to the system being renamed Sanford Health. This donation was featured on The Chronicle of Philanthropy's list of "Americans Who Gave the Most in 2007."
Among the many facilities and programs within Sanford Health that bear Sanford's name is the William Sanford Welcome Center at Bethesda Hospital in St. Paul. Sanford's donations to Bethesda Hospital, while significant, are part of a broader pattern of charitable giving that has benefited numerous healthcare and educational institutions.
In addition to his donations to Bethesda Hospital, Sanford has also supported initiatives such as the Sanford Harmony Program at Arizona State University's School of Social and Family Dynamics and the Sanford College of Education at the National University. Furthermore, Sanford has contributed to the development of a new civic center in Sioux Falls and has been involved in various charitable projects within the community.
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Frequently asked questions
Thomas Denny Sanford is a businessman and philanthropist from South Dakota. He is the founder of First Premier Bank and the chairman and CEO of United National, its holding company.
T. Denny Sanford did not buy a hospital, but he has made several donations to hospitals and health systems, including a $400 million donation to Sioux Valley Hospitals and Health System in 2007, which renamed itself Sanford Health.
T. Denny Sanford has donated nearly $1 billion to Sanford Health, including the Sanford House, a $6 million building that houses the offices of the Sanford Health Foundation. He has also made sizeable donations to the William Sanford Welcome Center at Bethesda Hospital in St. Paul and the T. Denny Sanford Pediatric Center at the Mayo Clinic.
T. Denny Sanford has said that he considers his philanthropy as an investment and that he wants to die broke. He has also stated that "virtually all" of his investments are health-related.
According to Forbes, T. Denny Sanford has given $1.6 billion to charity during his lifetime and has pledged to give away his entire $2.5 billion fortune before he dies.
