Nonprofit Newswire | Two Software Providers to Nonprofits on Wall Street

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April 29, 2010; Source: Post and Courier | Yesterday Blackbaud Inc., which serves 2,200 nonprofit clients and specializes in online fundraising, posted healthy first quarter profits for the year—coming in at a big 46 percent over last year’s first quarter but slightly underperforming against their projections. Marc Chardon, Blackbaud’s CEO said that the company has booked more sales to small nonprofits than since before the downturn but, “a broad-based rebound for the industry is unlikely this year.” Says Chardon, “We continue to plan our business based on the assumption that the macro environment will not improve materially during 2010.” Meanwhile, Convio, which serves 1,300 nonprofits with on-demand software, went public today, pricing its shares at $9. This blog post asserts that the “platform has helped to raise $920 million for worthy causes.” It has also been on something of a growth spurt, building its annual revenues from $13.3 million to $63.1 million between 2005 and 2009.—Ruth McCambridge