Blackbaud's 2023 Impact Report Shows How the Company is Fueling Change

Rhea-AI Summary

Blackbaud (NASDAQ: BLKB) released its 2023 Impact Report detailing progress in environmental, social, and governance (ESG) initiatives. Key achievements include maintaining 100% carbon neutrality, reducing global GHG emissions by 92% since 2019, and achieving a 23% energy reduction at its headquarters. The company also reported high employee engagement, with 91% participation in the annual survey and 43% involvement in affinity groups. Additionally, Blackbaud's software fueled significant social impact: over one million fundraising pages created, 19 million donations made, and a 21% increase in average gift sizes for nonprofits. The report highlights strong governance with a new Chief Privacy Officer and enhanced cybersecurity measures.

Positive

• 100% carbon neutrality for 2023 emissions.
• 92% reduction in global GHG emissions since 2019.
• 23% energy reduction and 45% water reduction at global headquarters.
• 91% employee participation in annual engagement survey.
• 86% of employees feel their work is important.
• 43% of employees are part of an affinity group, a 10% increase from 2022.
• 21% increase in average gift sizes for nonprofits using Blackbaud's software over two years.
• 65% increase in employee volunteer hours powered by Blackbaud's YourCause.
• 1.9 million learners completed workplace training via EVERFI.
• Named Governance Team of the Year in Governance Intelligence's Annual Corporate Governance Awards.
• Board of directors amended tenure limits for independent directors.
• Appointment of a Chief Privacy Officer to manage data privacy risks.
• Enhanced cybersecurity measures, including specialized incident response and ransomware protection.

Negative

• No specific financial data reported, making it difficult to assess financial performance.
• Potential risks associated with heavy reliance on ESG reporting to drive stock value.
• information on specific revenue growth or profit margins.

Highlights Include Maintaining 100% Carbon Neutrality, Cultivating a Highly Engaged Workforce and Enhancing Security

CHARLESTON, S.C., May 14, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today released its 2023 Impact Report, sharing how the company has advanced its environmental, social and governance priorities in the past year.

"At Blackbaud, we're committed to fueling impact and unleashing generosity – not only through our software, but by taking action on the issues that matter most to our people, our community and our planet," said Mike Gianoni, president, CEO and vice chairman of the board. "This report gives a detailed look into the standards we hold ourselves to as corporate citizens and the positive changes we're committed to making in the world. I am proud of the progress we have made and energized by all we have ahead of us."

Achievements across Blackbaud's key priorities in 2023 included:

People and Culture/HR: Blackbaud is committed to creating a great place to work, with a focus on employee engagement, development, well-being, inclusion and a long history of commitment to philanthropic work.

• Philanthropy: 70% of Blackbaud employees volunteered in 2023.
• Employee Engagement: 91% participation in annual employee engagement survey, with 86% of employees saying they feel the work they do at Blackbaud is important.
• Inclusion: 43% of Blackbaud employees belonged to an affinity group—a 10% increase in 2023.

Fueling Social Impact: Blackbaud fuels the impact of its customers with software and resources that enable organizations to drive change and power vital learning that transforms lives and communities.

• Individual Changemakers: Over one million fundraising pages were created, and 19 million donations were made on Blackbaud's JustGiving® platform alone.
• Nonprofits and Charities: Organizations using Blackbaud Raiser's Edge NXT® and analytics saw a 21% increase in average gift size over a two-year period – growing funds used to support their social impact goals.
• Education Institutions: Over 3.2 million students participated in critical skills education through EVERFI® from Blackbaud®, totaling 8.8 million hours of learning across the globe.
• Companies: 2023 saw a 65% increase in employee volunteer hours powered by YourCause® from Blackbaud®, and 1.9M learners completed a workplace training powered by EVERFI from Blackbaud.

Driving Climate Solutions: Blackbaud is committed to reducing its environmental impact and supporting customers in their sustainability efforts. Blackbaud participates in CDP's public disclosure and aligns its reporting with TCFD recommendations.

• Decarbonization: 100% carbon neutrality for 2023 emissions and a 92% reduction in global GHG emissions since 2019.
• Responsible Operations: 23% energy reduction and 45% water reduction in Blackbaud's global headquarters office since 2019 with the transition to a remote-first workforce approach.
• Strategic Partnership: Blackbaud is a proud, multi-year philanthropic sponsor of Project Drawdown, a nonprofit focused on solutions to climate change.

Governance and Data Responsibility: Customer trust is a top priority and embedded in everything Blackbaud does.

• Expertise: Blackbaud was named Governance Team of the Year in Governance Intelligence's Annual Corporate Governance Awards, recognizing outstanding achievements in governance, risk, and compliance.
• Process: Blackbaud's board of directors amended tenure limits for independent directors within its Corporate Governance Guidelines to assure that fresh ideas and viewpoints are represented on the board.
• Talent: The company appointed a Chief Privacy Officer to oversee data privacy and manage risks related to privacy compliance and privacy laws.
• Technology: Blackbaud increased the specialization of its cybersecurity team in incident response, vulnerability management, enterprise architecture and data protection, and enhanced its cloud-based security posture technology and on-premise encryption capabilities designed to protect against ransomware and malware.

To learn more about how the company is fueling change through its practices, commitments and technology, view the full 2023 Blackbaud Impact Report here.

About Blackbaud
Blackbaud (NASDAQ: BLKB) 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, Blackbaud's essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud's solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com 

Forward-looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organization; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

 

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SOURCE Blackbaud

FAQ

What are the key achievements reported by Blackbaud in their 2023 Impact Report?

Key achievements include 100% carbon neutrality, a 92% reduction in global GHG emissions, a 23% energy reduction at headquarters, high employee engagement, and significant social impact through their software.

How has Blackbaud impacted nonprofits with its software in 2023?

Nonprofits using Blackbaud's software saw a 21% increase in average gift sizes over two years and created over one million fundraising pages, generating 19 million donations.

What environmental goals did Blackbaud achieve in 2023?

Blackbaud maintained 100% carbon neutrality for 2023 emissions and reduced global GHG emissions by 92% since 2019.

How engaged are Blackbaud employees according to the 2023 Impact Report?

91% of Blackbaud employees participated in the annual engagement survey, with 86% feeling their work is important, and 43% belonging to an affinity group.

What governance improvements did Blackbaud make in 2023?

Blackbaud appointed a Chief Privacy Officer, enhanced cybersecurity measures, and was named Governance Team of the Year by Governance Intelligence.