AUTHOR: Carson Walker

A South Dakota billionaire banker has pledged a $5 million matching grant to the Crazy Horse Memorial Foundation, the largest ever in the mountain carving's nearly 60 year history.

T. Denny Sanford of Sioux Falls, a longtime supporter of the project that honors American Indians, initially wanted to remain anonymous but allowed his name to be released if it would help the fundraising effort, said Ruth Ziolkowski, president and CEO.

Her husband, the late Korczak Ziolkowski, started the project in 1948 and she has led the project since his death in 1982.

"Last year he (Sanford) said, 'I really want to see this finished as soon as possible,'" she said.

Korczak's last words were, 'Go slowly so you do it right.'

Well 25 years later we've learned a lot of things from working on the face. You still have to do it right but with the finances, we can go a little faster and still do it right."

The previous largest gift was $1.7 million from Illinois businessman Gerald Forsythe.

The Sanford money will match other donations dollar-for-dollar. The first $1 million has been raised and there is a deadline of Oct. 1, 2011 to raise the remaining $4 million, according to Crazy Horse officials.

Sanford doesn't want anything named after him but did encourage Ziolkowski to paint a white outline of the horse that the Lakota warrior is riding - something Korczak did of the entire project in its infancy, though the lines have faded, Ziolkowski said.

"People will appreciate much better what you're working on if they can see it," she said of Sanford's suggestion.

Sanford, 71, is the chief executive of United National, a holding company that's the parent of First Premier Bank and Premier Bankcard.

He has pledged $400 million to turn the former Sioux Valley health system into Sanford Health in Sioux Falls; $70 million to the underground science lab at the old Homestake mine in Lead; $20 million to a California-based research institution Sanford Health will partner with for pediatric research; $16 million to build the Sanford Children's Hospital in Sioux Falls; $14 million to Children's Home Society in Sioux Falls; and $5 million to South Dakota State University's new student-athlete center.

Sanford is No. 17 in Business Week magazine's latest annual list of "most generous givers"

He is one of 16 of the top 50 philanthropists who have given or pledged more than $100 million between 2003 and 2007, according to the magazine.

He ranked higher on the list than some more famous philanthropists, such as Ted Turner and Oprah Winfrey.

Business Week said Sanford has given or pledged $559 million to various causes in his lifetime, or about 20 percent of his estimated total net worth of $2.8 billion.