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Blackbaud: Powering Nonprofits

An insightful exploration of the cloud computing leader dedicated to empowering social good organizations.

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Company Overview

Core Mission

Blackbaud, Inc. stands as a prominent cloud computing provider, specifically architected to serve the unique needs of the social good sector. Its comprehensive suite of solutions empowers a diverse range of organizations, including nonprofits, foundations, educational institutions, healthcare providers, and religious bodies. The company's offerings are strategically focused on critical operational areas such as fundraising, sophisticated website management, customer relationship management (CRM), data analytics, financial administration, ticketing systems, and educational administration.[2][3][4][5][6]

Key Offerings

The company's flagship product, Raiser's Edge, is a foundational fundraising database software, which historically accounted for a significant portion of its revenue.[2] Beyond this core offering, Blackbaud provides a broad spectrum of integrated solutions, including Blackbaud Enterprise CRM, Altru, Financial Edge, Education Edge, Blackbaud NetCommunity, eTapestry, Luminate Online, Luminate CRM, and Friends Asking Friends. Furthermore, Blackbaud extends its expertise through consultancy services tailored for nonprofit organizations.[2]

Operational Footprint

Founded in 1981 by Anthony Bakker in New York City, Blackbaud has evolved significantly. It is now headquartered in Charleston, South Carolina, and operates with a remote-first workforce model, having closed its regional offices in 2021. The company serves a global clientele, with key operational hubs or significant presence noted in London, Sydney, and Toronto.[8][9]

Company Trajectory

Early Foundations

Blackbaud's origins trace back to 1981 when founder Anthony Bakker developed a computerized billing system for the Nightingale-Bamford School in New York City. By 1982, Bakker incorporated Blackbaud Microsystems, initially headquartered in New York. The company's first product, Student Billing, was an accounts receivable system designed for private grade schools, which later evolved into the flagship product, The Raiser's Edge.[7][11]

Growth and Relocation

Facing high operational costs in New York, Blackbaud relocated its headquarters to Mount Pleasant, South Carolina, in 1989, with assistance from a business loan. Subsequent growth necessitated another move to North Charleston, South Carolina, in 1992. The company successfully transitioned its software offerings from DOS to Windows 95 in 1994, a move that significantly boosted sales and market position. This period also saw strategic acquisitions of key competitors like ACOMS, Master Systems Inc., and Master Software, effectively doubling its customer base.[11]

Market Expansion and Leadership

Blackbaud expanded its market reach through value-added resellers starting in 1998. The year 2000 saw Robert Sywolski assume the CEO role. The company achieved a significant milestone with its initial public offering (IPO) in 2004. Marc Chardon succeeded Sywolski as CEO in 2005, bringing experience from Microsoft's information worker group. The subsequent years were marked by strategic acquisitions, including Campagne Associates (2006), Target Software and Target Analysis Group (2007), eTapestry (2007), Kintera (2008), Convio (2012), MicroEdge (2014), JustGiving (2017), Reeher (2018), and YourCause (2019), continually broadening its product portfolio and market presence.[13][15][17][18][19][23][24][27][28]

Leadership and Modernization

In 2013, Marc Chardon transitioned out, with Anthony Boor serving as interim CEO before Mike Gianoni was appointed President and CEO in November 2013. Gianoni continues to lead the company, overseeing its strategic direction, including the transition to a remote-first workforce model in 2021.[10][9]

Product Ecosystem

CRM Solutions

Blackbaud offers a tiered approach to Customer Relationship Management (CRM) tailored to organizational size and complexity:

  • Raiser's Edge NXT: The modern, cloud-based evolution of its flagship fundraising database, designed for comprehensive donor management.
  • Blackbaud CRM: A robust, web-based platform for larger organizations managing complex constituent engagement and fundraising operations.
  • Luminate CRM: Integrated with Salesforce, this offering serves mid-tier organizations, leveraging a powerful external platform.

Additionally, Prospect Insights was introduced to enhance fundraising capabilities within Raiser's Edge NXT.[50]

Financial Management

Financial Edge NXT serves as Blackbaud's cloud-based fund accounting system. It is engineered for seamless integration with the Raiser's Edge NXT fundraising CRM, facilitating robust financial reporting, budgeting, grant management, and program performance tracking to support fundraising endeavors.[47]

Digital Engagement

The company provides tools for online engagement and marketing, including:

  • Blackbaud NetCommunity: Facilitates online communication and engagement.
  • Luminate Online: A comprehensive platform for digital marketing, advocacy, and fundraising campaigns.
  • eTapestry: An accessible online donor management solution.

These platforms enable organizations to connect with their supporters and manage digital outreach effectively.

Cybersecurity Incident

The 2020 Breach

In May 2020, Blackbaud experienced a significant cyberattack where unauthorized actors accessed and exfiltrated customer data. The company subsequently paid a ransom to the attackers in exchange for confirmation of data deletion. This incident impacted over 100 customers, including numerous universities and charities across multiple countries.[31][32][33]

Regulatory Scrutiny and Settlements

Blackbaud faced criticism for its delay in disclosing the breach and for paying the ransom, particularly concerning compliance with GDPR's 72-hour reporting requirement. Further complications arose when the company admitted that sensitive data, including bank account information and social security numbers, had been compromised. This led to a $3 million fine from the SEC in March 2023 for misleading disclosures.[36][37][38]

In October 2023, Blackbaud settled with 49 U.S. states and the District of Columbia for $49.5 million, agreeing to enhance data security and notification protocols. Additionally, a February 2024 settlement with the FTC mandates significant improvements to data handling practices, including data retention policies and encryption.[39][41] Class-action lawsuits related to the breach are also ongoing.[44]

Corporate Citizenship

Community Engagement

Blackbaud actively promotes corporate citizenship through various initiatives designed to support employees and the broader community. The "Volunteer for Vacation" program grants employees paid time off to engage in community service. Furthermore, the "Reward Your Passion" initiative allows employees to apply for company-funded grants to support charities of their choice.[51][52]

Broader Impact

In 2013, Blackbaud expanded its grant program to include international locations beyond its Charleston headquarters, reflecting a global commitment to philanthropy. The company also launched "Business Doing Good," a website dedicated to providing resources for small and medium-sized businesses to establish their own corporate philanthropy programs.[54][55] These efforts underscore Blackbaud's dedication to fostering social impact within the business community.

References

Source Citations

  1. ^ "Blackbaud, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 24, 2023.
  2. ^ a b c d e f "Blackbaud Inc Form 10-K". Securities and Exchange Commission. Retrieved February 25, 2015.
  3. ^ Wortham, Jenna (November 30, 2010). "A Facebook Founder Begins a Social Network Focused on Charities". New York Times. Retrieved January 24, 2014.
  4. ^ Newman, Andrew Adam (September 18, 2009). "Making a New Appeal Using Vintage Items". New York Times. Retrieved January 24, 2014.
  5. ^ "Charities get cash boost from #GivingTuesday". USA Today. Retrieved January 24, 2014.
  6. ^ a b "Blackbaud to Acquire Software Company Convio". Wall Street Journal. Retrieved January 24, 2014.
  7. ^ a b c d e f g h i j k l Jay P. Pederson, ed. (2007). "Blackbaud, Inc". Vol. 85. International Directory of Company Histories. pp. 34–37.
  8. ^ "Contact Us". Blackbaud. Retrieved October 5, 2021.
  9. ^ "Blackbaud Transitions to a Remote-First Workforce Approach".
  10. ^ a b "Blackbaud names new president, chief executive officer". November 13, 2013.
  11. ^ a b c d e f g h John P. McDermott (October 13, 1997). "Blackbaud carves out its own corner of competitive computer market". The (Charleston, SC) Post and Courier.
  12. ^ a b c Covaleski, John M. (May 22, 2000). "New CEO to take Blackbaud to the 'next level'". Accounting Today. p. 26.
  13. ^ a b "Blackbaud names Microsoft exec as CEO". CRN. Retrieved January 24, 2014.
  14. ^ a b J. Kyle Foster. "Microsoft executive leaves for Blackbaud". Bloomberg News. Retrieved January 24, 2014.
  15. ^ "Blackbaud buys Campagne Associates". Philanthropy Journal. Archived from the original on February 2, 2014. Retrieved January 24, 2014.
  16. ^ a b Holly Hall. "Blackbaud Software Company Buys a Struggling Competitor". The Chronicle of Philanthropy. Retrieved January 24, 2014.
  17. ^ a b "Blackbaud acquires Target Software and Target Analysis Group". Direct Marketing News. Retrieved January 24, 2014.
  18. ^ "Blackbaud's Acquisition Of eTapestry". The Non Profit Times. Retrieved January 24, 2014.
  19. ^ "Blackbaud To Acquire Convio For $275 Million". The Non Profit Times. Retrieved January 24, 2014.
  20. ^ "Outgoing Blackbaud CEO Marc Chardon talks about his tenure, departure". The Post and Courier. Retrieved January 24, 2014.
  21. ^ "Updated: Charleston software giant Blackbaud names interim leader as CEO steps down early". The Post and Courier. Retrieved January 24, 2014.
  22. ^ a b c "Blackbaud Appoints Interim CEO". The Non Profit Times. Retrieved January 24, 2014.
  23. ^ "Blackbaud Extends Reach With $160-Million Acquisition of MicroEdge". The Chronicle of Philanthropy. September 5, 2014. Retrieved October 15, 2017.
  24. ^ "Blackbaud completes £95m purchase of JustGiving". CivilSociety.co.uk. Retrieved October 30, 2017.
  25. ^ "Blackbaud completes its £95m takeover of JustGiving". Retrieved October 30, 2017.
  26. ^ "Blackbaud Completes Acquisition of JustGiving | Blackbaud News". BlackbaudNews.com. October 3, 2017. Retrieved November 5, 2017.
  27. ^ "Blackbaud Acquisition Ups Its Position in Higher Ed". The NonProfit Times. Retrieved March 2, 2020.
  28. ^ "Blackbaud Buys Texas Software Firm for $157M". January 3, 2019.
  29. ^ "Blackbaud Buys YourCause For $157 Million". The NonProfit Times. Retrieved April 2, 2020.
  30. ^ "Cloud Stocks: Blackbaud Acquires YourCause to Grow Addressable Market". Sramana Mitra. September 18, 2019. Retrieved April 2, 2020.
  31. ^ "Blackbaud Hacked, Ransom Paid". The NonProfit Times. Retrieved July 18, 2020.
  32. ^ "Blackbaud hack: More UK universities confirm breach". BBC News. July 24, 2020.
  33. ^ Scroxton, Alex (July 30, 2020). "List of Blackbaud breach victims tops 120". Computer Weekly. Retrieved March 16, 2023.
  34. ^ "Security Incident". blackbaud.com. Retrieved July 18, 2020.
  35. ^ "Blackbaud Hack: Universities lose data to ransomware attack". BBC News. July 23, 2020.
  36. ^ "Cloud biz Blackbaud admits ransomware crims may have captured folks' bank info, months after saying that everything's fine". The Register. October 1, 2020.
  37. ^ Singh, Kanishka; Prentice, Chris (March 9, 2023). "Software firm Blackbaud to pay $3 mln for misleading disclosures on ransomware attack - SEC". Reuters. Archived from the original on March 11, 2023. Retrieved March 16, 2023.
  38. ^ "SEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack That Impacted Charitable Donors" (Press release). Securities and Exchange Commission. March 9, 2023. Archived from the original on March 10, 2023. Retrieved March 16, 2023.
  39. ^ "Blackbaud to Pay $49.5 Million in Data Breach Settlement". Hunton Andrews Kurth Privacy & Information Security Law Blog. October 12, 2023. Retrieved February 5, 2024.
  40. ^ "Blackbaud Settles Multistate Investigation Related to Data Breach for $49.5 Million". Kelley Drye Ad Law Access blog. October 13, 2023. Retrieved February 5, 2024.
  41. ^ "Blackbaud settles with FTC after that IT breach exposed millions of people's info". The Register. February 2, 2024. Retrieved February 5, 2024.
  42. ^ "FTC orders Blackbaud to overhaul 'reckless' security practices in wake of 2020 breach". TechCrunch. February 2, 2024. Retrieved February 5, 2024.
  43. ^ "Blackbaud Decision and Order". DocumentCloud. Retrieved February 5, 2024.
  44. ^ Jewett, Abraham (August 18, 2021). "Blackbaud Data Breach Class Action Trimmed, Claims Co Misrepresented Scope of Hack Will Proceed". Top Class Actions. Archived from the original on September 20, 2023. Retrieved March 16, 2023.
  45. ^ Hawkins, Samantha (June 29, 2022). "Blackbaud Must Face Data Breach Claims Under Massachusetts Law". Bloomberg Law. Archived from the original on September 20, 2023. Retrieved March 16, 2023.
  46. ^ Lori Hawkins (June 2, 2013). "Software maker Blackbaud continues to grow Austin presence". Austin American Statesman. Archived from the original on June 9, 2013. Retrieved March 31, 2014.
  47. ^ a b "Accounting Software for Nonprofits | Financial Edge NXT". Blackbaud.com. Retrieved August 29, 2017.
  48. ^ a b c Paul Greenberg (January 29, 2014). "CRM Watchlist 2014: For the 1st time ever: The Watchlist Elite, Part I". ZDNet. Archived from the original on March 4, 2014. Retrieved March 31, 2014.
  49. ^ a b "Blackbaud Inc. 10-K". United States Securities and Exchange Commission. 2013. Retrieved March 31, 2014.
  50. ^ "Blackbaud Releases Prospect Insights". NonProfit PRO. June 7, 2022. Retrieved June 9, 2022.
  51. ^ "Taking a year-round approach to corporate philanthropy". Charleston Regional Business Journal. December 17, 2012. Retrieved March 31, 2014.
  52. ^ a b "Blackbaud; Blackbaud Launches New Corporate Citizenship Initiatives". Computer Weekly News. February 12, 2010.
  53. ^ a b "From politics to philanthropy: Sally Ehrenfried". Charleston Regional Business Journal. Retrieved March 31, 2014.
  54. ^ "Blackbaud Announces Global Expansion of Grants Program". Coastal Community Foundation of South Carolina. May 20, 2013. Archived from the original on April 7, 2014. Retrieved March 31, 2014.
  55. ^ "Blackbaud Launches BusinessDoingGood.com to Help Small to Mid-Sized Businesses Build Give-back Programs in their Organizations". Charleston Chronicle. March 12, 2014. Archived from the original on December 3, 2013. Retrieved March 31, 2014.

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References

References

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Disclaimer

Important Notice

This document has been generated by an Artificial Intelligence model and is intended for informational and educational purposes exclusively. The content is derived from a snapshot of publicly available data, primarily from Wikipedia, and may not represent the most current or exhaustive information available.

This is not professional advice. The information presented herein should not be construed as professional consultation regarding software solutions, cybersecurity, financial management, or corporate strategy. Users are strongly advised to consult official Blackbaud documentation and engage qualified professionals for specific business needs and decisions. Reliance on any information provided in this document is solely at the user's own risk.

The creators of this content are not liable for any errors, omissions, or consequences arising from the use of the information provided.