Blackbaud Inc. (NASDAQ:BLKB) is a supplier of software and services specifically designed for nonprofit organizations. Its products focus on fundraising, website management, CRM, analytics, financial management, ticketing, and education administration.
|Founded||New York (1981)|
|Headquarters||2000 Daniel Island Drive, Charleston, South Carolina, United States 29492-7541|
|Anthony Bakker, Founder
Michael Gianoni, CEO
Blackbaud's flagship product is a fundraising SQL database software, Raiser's Edge. Revenue from the sale of Raiser’s Edge and related services accounted for thirty percent of Blackbaud’s total revenue in 2012. Other products and services include Blackbaud Enterprise CRM, Financial Edge, Education Edge, Blackbaud NetCommunity, eTapestry, Luminate Online, Luminate CRM, Friends Asking Friends, Altru museum management software and Target Analytics. In addition, Blackbaud offers consultancy services to nonprofit organizations.
Blackbaud was founded in 1981 by Anthony Bakker. The company is headquartered in Daniel Island, Charleston, South Carolina on a site shared with the Charleston Battery, a professional soccer club founded and owned by Bakker. It has additional offices in Cambridge, Massachusetts; Indianapolis, Indiana; Miami Beach, Florida; Alexandria, Virginia; San Diego, California; Austin, Texas; Emeryville, California; Washington, D.C.; Overland Park, Kansas; Lincoln, Nebraska; Toronto, Ontario; Glasgow, Scotland; London, England; Chesham, England; Sydney, Australia; and Almere, Netherlands.
Blackbaud’s history traces back to 1981, when Blackbaud founder Anthony Bakker developed a computerized billing system for the Nightingale-Bamford School in Manhattan, New York City. By 1982, Bakker’s expanded client list allowed him to quit his day job as a banker and he incorporated Blackbaud Microsystems. Bakker’s new company was headquartered in New York City. Blackbaud’s first product was Student Billing, an accounts receivable system geared toward private grade schools. The company’s flagship product, The Raiser’s Edge, was developed from its Student Billing product.
The company had 75 employees in 1989, when it decided to relocate from New York City due to high operational costs. Blackbaud relocated to Mount Pleasant, South Carolina with the help of a $750,000 business loan. Of the company’s original 75 employees, 30 remained in a support and training office in New York City and 15 relocated to Blackbaud’s new South Carolina headquarters. In 1992, the company outgrew its Mount Pleasant headquarters and relocated to North Charleston, South Carolina.
In 1994, Blackbaud converted its software offerings from DOS to Windows 95. This decision led to a sales increase from $19 million in 1995 to $26 million in 1996. During this time Blackbaud acquired multiple DOS-based competitors, including ACOMS of Burlington, Massachusetts; Master Systems Inc. of Pinole, California; and Blackbaud’s “chief challenger,” Master Software of Indianapolis, Indiana. Blackbaud’s acquisition of Master Software doubled its customer base.
In 1998, Blackbaud began using value-added resellers, which further expanded the company’s customer base. In 2000, Robert Sywolski became CEO of Blackbaud. Sywolski had previously served as CEO of North American operations for Cap Gemini, an international consulting firm.
Blackbaud successfully completed its initial public offering in 2004. Sixteen months later, in November 2005, Marc Chardon replaced Sywolski as Blackbaud CEO. Chardon had previously served as chief financial officer of Microsoft’s information worker group, which developed Microsoft Office among other products.
In 2006, Blackbaud acquired Campagne Associates. The company added both Target Software and Target Analysis Group in 2007. Target Software developed large-scale database management solutions while the Target Analysis Group focused primarily on data mining for nonprofits. Later that year, Blackbaud also acquired eTapestry, an online donor management tool.
In early 2013, Blackbaud announced that CEO Marc Chardon would leave the company by the end of that year. Anthony Boor became Blackbaud’s interim CEO in August 2013. Boor joined Blackbaud as the company’s chief financial officer in 2011. He was credited with leading Blackbaud’s acquisition of Convio.
In November 2013, Michael Gianoni was named the new president and CEO for Blackbaud.
In 2014, Blackbaud acquired MicroEdge for $160 million. MicroEdge was a software provider to foundations, with about 2,000 customers.
Blackbaud creates software that helps nonprofits with CRM, marketing campaigns, fundraising, finance and accounting, and analytics. The company has three customer relationship management (CRM) offerings: The Raiser's Edge, Blackbaud CRM and Luminate CRM. Blackbaud CRM is a web-based platform that is the company's lead offering for larger organizations that need to handle complex tasks. Luminate is Blackbaud's offering for mid-tier organizations and is fully integrated with Salesforce.com. Financial Edge NXT is Blackbaud's cloud based fund accounting system designed to manage financial reporting/budgeting, monitor and track grant/program success, and support fundraising efforts.
Blackbaud has an extensive corporate citizenship and philanthropy program. Volunteer for Vacation is an employee initiative, where the company gives paid vacation to employees who participate in volunteer community service. The company's Reward your Passion initiative allows employees to apply for company-funded grants that help a charity of their choice. In 2013, the company expanded its grant program to include locations beyond its Charleston, South Carolina headquarters. Later that year, Blackbaud launched Business Doing Good, a website that is focused on providing information for small and medium-sized businesses to create their own corporate philanthropy programs. The company also hosts volunteer fairs and other community service events throughout the year.
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