(Sioux Falls, SD) Sanford Health today announced that South Dakota banker Denny Sanford has gifted his second $50 million installment to Sanford Health.
As part of the largest philanthropic gift to a hospital or health system in the nation's history, Denny Sanford agreed to make donation installments of $50 million over an eight year period totaling $400 million. The first $50 million was received by Sanford Health last February, and Mr. Sanford accelerated the second donation in late-December.
"By adding to his gift in 2007, Mr. Sanford has furthered the momentum and incredible financial outlook for the initiatives and the organization," said Brian Mortenson, President of the Sanford Health Foundation. Mortenson went on to say "we guessed that he may be considering accelerating the gift and it was a great Christmas present for all of us. We continue to be amazed at his generosity and quiet kindness."
Additionally, Mr. Sanford provided $16 million to the Health System for the construction of the new Children's Hospital slated to open in early 2009. He also provided $20 million to Sanford Health to be directed to the Sanford School of Medicine at the University of South Dakota.
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