Executive Vice President & Chief Commercial Officer, Blackbaud
Search every verified David Benjamin interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. David Benjamin, Executive Vice President and Chief Commercial Officer at Blackbaud, was not quoted in the provided material. The transcript and selected quotes feature Blackbaud CFO Tony Boor discussing the company's performance and strategy. Boor stated that Blackbaud has served the nonprofit and social impact space for over 40 years, with 40,000 customers and approximately $1.1 billion in annual revenue. He noted that the company has implemented a new pricing strategy moving customers from annual to multi-year contracts and has increased prices due to inflation, with renewal rates improving. Boor also discussed trends in charitable giving, saying that overall U.S. giving exceeded $500 billion for the first time during the pandemic, though it was down slightly last year. He highlighted that about 36% of annual giving occurs in the fourth quarter, with 20% in December alone, and that Blackbaud co-founded Giving Tuesday. Boor described the company as now 97% recurring revenue and guiding to high single-digit growth for 2024 and beyond, with potential to reach low double digits.
“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 from annual contracts to multi-year contracts, typically three to five to seven years, which aligns with the overall software industry trend. We've also increased our prices this year due to inflation, and renewal rates have actually improved.”
“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...”
“Our systems are core systems of record for nonprofits and corporations, essential for raising money, managing financials, and grantmaking. Because these solutions are critical, we didn't see a real negative impact during tough economic cycles as customers couldn't afford to be without them.”
Blackbaud (BLKB) is a cloud computing provider that serves foundations, education, nonprofits, and more. CFO Tony Boor joins ...
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