About Blackbaud

Blackbaud, Inc. (Blackbaud) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, the company’s ressential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. Millions of people across more than 100 countries connect, give, learn and engage through Blackbaud platforms. During 2023, the company had nearly 100,000 customers that paid Blackbaud through transactional fees and more than 40,000 customers with contractual billing arrangements. The company is deeply proud to play a part in its customers’ success in their missions to provide healthcare and cure diseases, advance education, preserve and share arts and culture, protect the environment, support those in need and much more. Strategy The key elements of the company’s strategy are to product innovation and delivery; bookings growth and acceleration; maintain a keen focus on accelerating bookings growth by signing new logos, as well as upselling and cross-selling its existing customer base; and place an updated pricing policy primarily for its social sector customers that directly reflects the value it provides to them, is in-line with the broader market and reflects the inflationary pressures that all businesses are facing. Solutions and Services The company builds software for its customers' essential business operations to free them to focus on what matters most: delivering impact. With powerful data intelligence and expertise inside, and an ever-growing network of partners and developers outside, the company’s software is the foundational infrastructure that expands what is possible for anyone dedicated to purpose-driven work. The company augments its software with a range of payment processing, analytic and business intelligence services, consulting, training and professional services, as well as maintenance and technical support. The Blackbaud portfolio is delivered primarily through cloud solutions tailored to the unique needs of nonprofits and foundations, educational institutions, individual change makers and corporate social impact programs built specifically for fundraising and relationship management, marketing and engagement, financial management, grant and award management, education management, ticketing, social responsibility, payment services and analytics. The company’s specific solutions and services include: Fundraising and Engagement Blackbaud Raiser's Edge NXT is the company’s flagship fundraising and relationship management solution. Raiser's Edge NXT is the first and only cloud fundraising and relationship management solution that is all-inclusive, fully integrated with data health, analytics, email marketing, donation forms, event management, payment processing and process automation to create tailored, user-specific experiences. Raiser’s Edge NXT includes access to Blackbaud Online Express, a simple, efficient, cloud-based fundraising and marketing tool designed for smaller nonprofit organizations. Blackbaud CRM is a comprehensive, configurable fundraising and relationship management solution. It is the company’s lead offering for enterprise-level organizations seeking a powerful, yet adaptable solution for fundraising, marketing and program management across the engagement lifecycle, specializing in supporting sophisticated major giving, membership and high-volume direct marketing programs. Blackbaud CRM helps organizations build deeper and more personalized relationships with constituents, build their brands through online engagement and multichannel communication tools, and more effectively fundraise, leveraging campaign management, business intelligence and analytics. Blackbaud CRM can be sold as an integrated solution with its enterprise online solutions to enable multi-channel marketing, online engagement and event fundraising. Blackbaud eTapestry is a simple, cloud fundraising and donor management solution built specifically for smaller, developing nonprofits in need of a cloud solution to support basic fundraising needs. It offers nonprofit organizations a way to manage donors, process gifts, create reports, accept online donations and communicate with constituents. This technology provides a system that is simple to maintain, efficient to operate and is intuitively easy to learn without extensive training. Blackbaud Luminate Online, delivered in the cloud, helps the company’s customers better understand their online supporters, make the right ask at the right time and raise money online. It includes tools to build online fundraising campaigns as part of an organization's existing website or as a stand-alone fundraising site. Donation forms, gift processing and tools for communicating through web pages and email give the company’s customers the essentials for building sustainable donor relationships. Blackbaud TeamRaiser is the industry’s most comprehensive cloud solution designed specifically for peer-to-peer event fundraising. Powering thousands of major events each year, TeamRaiser allows nonprofits’ supporters to create personal or team fundraising web pages and send email donation appeals in support of events such as walks, runs and rides. JustGiving from Blackbaud is one of the world's leading social platforms for giving. JustGiving provides world-class technology and innovative tools to connect people with the causes they care about. By making giving more simple, social and rewarding, this platform helps all causes, charities and people in need to reach more people and raise more money. Blackbaud Fundraiser Performance Management is a multi-pronged solution that combines easy to use data-driven software for fundraisers and managers, predictive modeling insights, and high-touch strategic consulting. Built for higher education institutions, healthcare and large nonprofit organizations, the SaaS tools increase transparency into fundraising performance, and direct fundraiser and talent manager action. Both fundraisers and leaders benefit from the tailored consulting to address weaknesses and enhance strengths to comprehensively improve the fundraising team performance. Blackbaud Altru is a cloud solution that helps arts and cultural organizations consolidate admissions, membership, fundraising, merchandise, marketing and more, giving users a comprehensive view of their supporters. By helping general admissions arts and cultural organizations gain a clear, 360-degree view of their organization, it enables them to operate more efficiently, engage and cultivate patrons and supporters, streamline external and internal communication efforts, and reduce IT costs. Blackbaud Altru contains tools for constituent and membership management, program sales, retail sales and ticketing, volunteer management and events management. It also has sophisticated reporting functionality and tools to manage marketing, communications and fundraising. Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising can work together with Fundraiser Performance Management or independently to help higher education institutions meet their advancement targets and development campaign goals. Blackbaud Guided Fundraising is used by institutions seeking to manage all the details behind the sophisticated, person-to-person solicitation strategies that drive fundraising results. Blackbaud Volunteer Network Fundraising helps institutions manage volunteer fundraising campaigns with tools for project management, communication and reporting. Financial Management Blackbaud Financial Edge NXT is the first-of-its-kind cloud accounting solution for nonprofits that is intuitive, fully integrated, and built the way nonprofits need it. Blackbaud Financial Edge NXT is advanced technology with powerful reporting tools to help accounting teams drive transparency, stewardship, and compliance while enabling them to seamlessly manage transactions and eliminate manual processes. It seamlessly integrates with Raiser's Edge NXT to simplify gift entry processing and relates information from both systems in an informative manner to eliminate redundant tasks and manual processes. Financial Edge NXT provides nonprofit organizations with the means to help manage fiscal and fiduciary responsibility, enabling them to be more accountable to their constituents. Blackbaud Tuition Management benefits schools by giving administrators better access to financial data and payment services, and by giving parents more ways to remit tuition payments. The solution helps ease the burden for administrative staff by offering invoicing, payment processing, customer service, enhanced communication with parents and later payer follow-up services. Blackbaud Financial Aid Management offers schools the ability to accept online, customized applications for financial aid and to make better financial aid decisions with a proprietary Hobbies, Interest and Lifestyles (HIL) profile. The HIL profile provides in-depth information on an applicant, delivering to the school a way to make more informed decisions on how they distribute financial aid awards. Blackbaud Billing Management makes it easy for school administrators to manage tuition and billing processes and for parents to manage their payments to the school. It gives families flexible payment options, provides the school visibility into payments and billing with metrics for supporting cash flow, one view of financial performance, 24/7 bill access on all devices, and removes manual processes from admissions to finance and merchant services. Grant and Award Management Blackbaud Grantmaking is a modern cloud solution, built on the company’s Blackbaud SKY Platform, that supports the end-to-end grantmaking process from application through review and resolution. Blackbaud Grantmaking provides core functionality to efficiently disperse funds, maintain compliance with due diligence requirements and measure and demonstrate impact. The system has collaborative tools to help strengthen relationships with grantees and other community partners. Coupled with Blackbaud Outcomes, funders and nonprofits are empowered to collaborate around their intended outcomes and work together to achieve impact. Both the funder and the nonprofit can tell an impact story using ROI-focused results and a common outcomes measurement language. Blackbaud Award Management is a comprehensive, integrated scholarship management platform for higher education and K-12 institutions and foundations, allowing students to apply for all awards using one intuitive and streamlined application process and eliminating many time-consuming administrative tasks. This leads to improved awarding, reporting, compliance, communication and stewardship. Education Solutions Blackbaud Student Information System makes it easy for schools to manage schedules, transcripts and GPAs. A new Student Information System that works directly with Blackbaud Learning Management System, Blackbaud Student Information System simplifies the process of sharing student data and academic records securely. Blackbaud Learning Management System is a learning management system that makes it easy to manage, connect, and share information with students, parents, and an entire school community. Developed with direct input from the company’s customers, Blackbaud Learning Management System gives teachers the tools to meet the demands of a modern private school. Blackbaud Enrollment Management System is an enrollment management system that simplifies a school’s admissions process. Blackbaud Enrollment Management System helps admissions teams and prospective families manage and track their progress, from inquiry and application through acceptance and enrollment. Blackbaud School Website System is a content management system that gives schools the flexibility to build and edit webpages, with easy access to content types, including photos, videos, downloads, text and more. It allows users to share material and contribute content across an entire school community. Social Responsibility and ESG YourCause GrantsConnect and YourCause CSRconnect are cloud solutions for employee giving, volunteering, and grantmaking used to support corporate philanthropy by building meaningful connections between corporations, employees and nonprofits. After implementing YourCause solutions, customers typically show significant growth in volunteers, donations, engagement and more. These reported successes demonstrate a larger trend: overall ability to attract employees and customers alike by strengthening a company's reputation. EVERFI from Blackbaud delivers educational content that transforms what is possible for learners while enabling companies to achieve their social impact and business goals. EVERFI’s robust library of courses connect students with real-world skills to navigate life’s most important challenges, from financial capability to mental wellness — all made possible through the generous support of brands that believe in the lasting results of community investment. Trusted by educators at over 25,000 K-12 schools, EVERFI’s curriculum reaches over 7 million students a year. Thousands of the world’s leading brands have engaged with their communities and achieved their social impact goals by sponsoring EVERFI’s trusted courses to empower students with the knowledge they need to succeed in life. Payment Services The company’s solutions provide its customers payment processing capabilities that enable their donors to make donations and purchase goods and services using numerous payment options, including credit card and automated clearing house (ACH) checking transactions, through secure online transactions. Blackbaud Merchant Services is a value-added service integrated with the company’s solutions that makes credit card processing simple and secure. Customers are charged one rate for credit card transactions, making Blackbaud Merchant Services a competitive option. The service also provides customers with a payment card industry (PCI) compliant process and streamlined bank reconciliation. The company also provides its K-12 private school customers with student tuition payment processing services. Blackbaud Purchase Cards provide an efficient and convenient alternative to traditional procurement methods and paper-based payables processes, such as checks, purchase orders and invoices for travel and operational purchases. Organizations can also set spend controls for individual cardholders, track business expenses across the organization and ensure that policies are being enforced—all managed online and integrated with Blackbaud Financial Edge NXT. Data Intelligence The company’s data intelligence offerings provide solutions for data health, insights and performance, enabling nonprofits to define effective campaign strategies and maximize fundraising results. These services either integrate with or are already integrated into the company’s software solutions to give its customers a comprehensive view of their supporters and the market and provide information essential to making well-informed operating decisions. Blackbaud’s Intelligence for Good is the company’s comprehensive strategy to deliver artificial intelligence that is accessible, powerful and responsible. The company’s artificial intelligence capabilities enable social impact organizations to transform data into insights and outcomes. Blackbaud's data intelligence solutions and services use data science and AI to turn customer data into valuable insights that inform decision-making and help them achieve their goals efficiently. Blackbaud's data intelligence portfolio consists of three key outcome areas: Data Health solutions enhance and maintain constituent data so the customer is always working with accurate and up-to-date information. Examples of these solutions include identifying outdated or invalid constituent addresses in the database and making corrections based on United States Postal Service data and using name and address matching to append additional contact or demographic data points to constituent records to support better segmentation and engagement. Insights inform strategic decision-making and actions that increase efficiency and drive successful outcomes. Insights are extracted by combining customer data with licensed and proprietary data before leveraging advanced AI capabilities and expertise from Blackbaud’s dedicated team of data scientists. Examples of constituent insights include predictive modeling that indicates the likelihood and capacity of a constituent making a gift, wealth screening software that uses publicly available records to build detailed wealth profiles of constituents and persona cluster segmentation that groups constituents based on shared traits with guidance for optimizing messaging to each group. Performance solutions help customers to assess their fundraising performance across donor segments, benchmark themselves against peer organizations and understand industry trends. These solutions provide a holistic view of donor performance that goes beyond standard campaign-based reporting, with key performance indicators related to acquisition, upgrading, retention and reactivation. Customers use the company’s performance solutions to identify areas of weakness and opportunities for improvement, track the donor impact of strategic initiatives, understand and respond to industry trends, set realistic benchmarks and fundraising goals and maintain a consistent reporting methodology to assess growth over time. Customer Success The company’s Customer Success organization is responsible for ensuring its customers achieve their desired outcomes through Blackbaud solutions, starting at onboarding and continuing through the customer lifecycle. The company’s Customer Success team develops and fosters relationships within all levels of the customer organization to build more demonstrated value in its solutions and services, while helping customers achieve their desired outcomes. The company’s customer success resources work to proactively communicate to drive overall satisfaction and retention of its customers' business. Customer Support Customer Support provides assistance to customers using Blackbaud Solutions, helping them understand the capabilities of their subscription, including how to navigate their subscription and answering related questions for core concepts of features and functionality. Benefits, such as priority routing or additional support channels, are continuously enhanced. Customers enrolled in the programs enjoy fast, reliable customer support, receive regular software updates, stay up-to-date with regular communication and can leverage a unified customer portal for quick and easy access to these resources. Customers also are empowered with self-help resources such as Knowledgebase articles, user guides, Blackbaud Community, the company’s on-demand library of enablement sessions and have around-the-clock access to support resources for mission-critical needs. Professional and Managed Services The company’s expert consultants, and those in its partner program, provide implementation, optimization, data conversion and customization services for its software solutions. These services include system implementation; data conversion, business process analysis and application customization; database merging and enrichment, and secure credit card transaction processing; database production activities; and Website design services; and outcome-based and prescriptive services. In addition, the company, and its delivery partners, apply its industry knowledge and experience, combined with expert knowledge of its solutions, to evaluate an organization's needs and consult on how to improve a business process. Training The company provides a variety of onsite, instructor-led online and on-demand training services to its customers on its solutions and application of best practices. This includes the company’s highly-rated Blackbaud University curriculum. Blackbaud University provides certifications for its products and industry best practices. These certifications serve as important catalysts for professional growth in the nonprofit industry. The company’s instructors and designers have deep knowledge in the social impact arena and in the use of its solutions. Instructor-led courses are designed to include hands-on lab exercises, as well as course materials with examples and problems to solve. Customers Millions of people across more than 100 countries connect, give, learn and engage through Blackbaud platforms. During 2023, the company had nearly 100,000 customers that paid Blackbaud through transactional fees and more than 40,000 customers with contractual billing arrangements. The company’s largest single customer accounted for less than 1% of its 2023 consolidated revenue. Sales and Marketing Most of the company’s solutions and related services are sold through its direct sales force. The company’s direct sales force is complemented by a team of sales development representatives responsible for sales lead generation and qualification. In addition, lead generation is supplemented by its customer success organization via employee-generated sales leads. These sales and customer success professionals are primarily located throughout the United States, the U.K., Canada and Australia. The company’s marketing organization, which includes brand, digital, content, product, event and demand generation marketing and corporate communications, develops and launches multi-channel campaigns designed to create brand recognition and market awareness for its solutions and services. The company’s digital demand generation motion focuses on targeted account-based marketing plays, as well as intent-based programs, including paid search, retargeting, social and content syndication programs. The company supplements the digital motion with its annual user conference, bbcon (which was held in November 2023 in-person for the first time since the pandemic), select participation at virtual and in-person third-party trade shows, technical conferences, and technology seminars. The company also targets publication of its thought leadership content and position its subject matter experts in industry journals and publications. The company has a large base of loyal customers and strategic partners that provide references and recommendations often featured in its advertising and promotional activities. Seasonality The company’s revenues normally fluctuate as a result of certain seasonal variations in its business. The company’s first quarter has historically been the seasonal low for bookings, with the second and fourth quarters historically being seasonally higher, and its bookings tend to be back-end loaded within individual quarters given its quarterly quota plans. Transactional revenue is non-contractual and less predictable given the susceptibility to certain drivers such as timing and number of events and marketing campaigns, as well as fluctuations in donation volumes and tuition payments. The company’s transactional revenue has historically been at its lowest in the first quarter due to the timing of customer fundraising initiatives and events. The company has historically experienced seasonal highs during the fourth quarter due to year-end giving campaigns and during the second quarter when a large number of events are held. The company’s revenue from professional services has historically been lower in the first quarter when many of those services commence and in the fourth quarter due to the holiday season. As a result of these and other factors, the company’s total revenue has historically been lower in the first quarter than in the remainder of its fiscal year (year ended December 31, 2023), with the fourth quarter historically achieving the highest total revenue. The company’s cash flow from operations normally fluctuates quarterly due to the combination of the timing of customer contract renewals including renewals associated with customers of acquired companies, delivery of professional services and occurrence of customer events, as well as merit-based salary increases, among other factors. Historically, due to lower revenues in the company’s first quarter, combined with the payment of certain annual vendor contracts, its cash flow from operations has been lowest in its first quarter. Due to the timing of customer contract renewals and student enrollments, many of which take place at or near the beginning of its third quarter, its cash flow from operations has generally been lower in its second quarter as compared to the company’s third and fourth quarters. Partially offsetting these favorable drivers of cash flow from operations in the company’s third and fourth quarters are base salary merit increases, which occur in July. The company’s cash flow from financing is negatively impacted in its first quarter when most of its equity awards vest, as it pays taxes on behalf of its employees related to the settlement or exercise of equity awards. Competition The company’s competitors include general business software vendors, such as Microsoft, Oracle and Salesforce.com. The company competes with consumer-oriented fundraising platforms, such as GoFundMe and Facebook. Intellectual Property and Other Proprietary Rights The company maintains many trademarks, including, but not limited to Blackbaud, Raiser's Edge NXT and Luminate. History Blackbaud, Inc. was founded in 1981. The company was incorporated as a New York corporation in 1982. The company was reincorporated as a South Carolina corporation in 1991 and reincorporated as a Delaware corporation in 2004.