Executive Vice President & Chief Financial Officer, Blackbaud
Search every verified Chad Anderson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 interview, Blackbaud CFO Tony Boor discussed the company’s position in the nonprofit and social impact software space. He stated that Blackbaud has served that sector for over 40 years, with 40,000 customers and approximately $1.1 billion in annual revenue. Boor noted that the company has implemented a new pricing strategy, moving customers from annual to multi-year contracts of three to seven years, and has increased prices due to inflation, while renewal rates have improved. He said that about 97% of revenue is recurring, and the company expects a drag from shifting away from one-time services to SaaS offerings to bottom out next year, guiding for mid to high single-digit growth. Boor also commented on giving trends, stating that overall U.S. giving exceeded $500 billion for the first time during the pandemic, though it was down slightly last year. He noted that about 36% of all giving occurs in the fourth quarter, with 20% in December, and that Blackbaud co-founded Giving Tuesday. Boor emphasized the diversification of the company’s customer base, which includes higher education, K-12 schools, charities, and Fortune 500 corporations, and described its software as critical systems of record that customers rely on even during economic downturns.
“We've been in the nonprofit social impact space for 40 plus years. We have 40,000 plus nonprofit and corporate customers under contract about 1.1 billion this year in revenue. We make critical software solutions and analytic services for the nonprofit space and social impact corporations from a CSR perspective.”
“We've implemented a new pricing strategy recently, moving our customer base away from annual contracts to multi-year contracts, typically three to five to seven years, which aligns with where the overall software industry has gone. We've also had to increase our prices this year due to inflation, but renewal rates have...”
“Giving was down slightly last year during the pandemic, but many nonprofit organizations found ways to survive as supporters and donors came out in droves to help them stay open. We saw surges in giving to food banks and other organizations helping those in need, which caused a surge in overall giving in the US, exceed...”
“We sell into a broad set of customers including higher education institutions, private K-12 schools, normal charities, nonprofits, and Fortune 500 corporations for corporate social responsibility. This diversification really helps us, and because our systems are core systems of record, customers can't afford to be with...”
Blackbaud (BLKB) is a cloud computing provider that serves foundations, education, nonprofits, and more. CFO Tony Boor joins ...
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