Blackbaud enhances K-12 advisory board with new leaders

CHARLESTON, S.C. - Blackbaud (NASDAQ: NASDAQ:BLKB), a prominent provider of software solutions aimed at social impact with a market capitalization of $3.95 billion, has announced the addition of a new executive director and several new members to its K–12 Executive Advisory Board. According to InvestingPro data, the company’s stock has gained over 5.7% in the past six months, reflecting strong market confidence in its strategic direction. The board, which consists of leaders from distinguished K–12 independent schools in the United States and Canada, plays a crucial role in advising Blackbaud on the development and refinement of its educational products and services.

The K–12 Executive Advisory Board, now in its 22nd year, is composed of 19 members who bring expertise from a range of school functions, including admissions, marketing, technology, and academics. They provide continuous feedback on Blackbaud’s offerings, ensuring that the company’s Total (EPA:TTEF) School Solution aligns with the evolving needs of independent schools.

Mark Davis, Blackbaud’s vice president of education products, emphasized the value of the board’s insights, which have been instrumental in guiding the company’s understanding of the challenges and opportunities within the private school sector. The board’s input has been a key factor in Blackbaud’s ability to enhance the user experience for its clients.

In the previous year, Blackbaud engaged with over 500 leaders from independent schools through various meetups, advisory board sessions, and a retreat. These interactions focused on strategic topics such as AI application, data insights, and system connectivity, fostering rapid innovation within Blackbaud’s K–12 product suite.

American Heritage School and NSU University School are among the institutions that have recently adopted components of Blackbaud’s Total School Solution to modernize their operations. Additionally, Punahou School and Pine Crest School, both represented on the advisory board, have extended their partnerships with Blackbaud.

Jacob Glickman, associate head of school operations at NSU University School, expressed confidence in selecting Blackbaud as their vendor, citing the company’s investment in an effective advisory board as a significant factor in their decision-making process.

The outgoing executive director, Hiram Cuevas, was recognized for his contributions, while the new executive director, Austin Ewachiw, was welcomed. Ewachiw’s appointment is expected to bring fresh perspectives to the board, which represents a broad spectrum of roles within school business offices. The company maintains a strong financial position, with InvestingPro analysis showing a "GOOD" overall financial health score and revenue growth of 5.8% over the last twelve months.

This update is based on a press release statement from Blackbaud. The company, known for its commitment to social impact, continues to support the nonprofit and education sectors, as well as other organizations and individuals dedicated to making a difference. With net income expected to grow this year and current trading levels suggesting potential undervaluation according to InvestingPro’s Fair Value analysis, investors seeking detailed insights can access comprehensive financial metrics and 12 additional ProTips through the InvestingPro platform.

In other recent news, Blackbaud, a software company dedicated to social impact, has seen significant developments. The company has completed the sale of its EVERFI Inc. business to an undisclosed private investment firm. This decision followed a strategic review process and aligns with Blackbaud’s focus on its core offerings and strategic direction.

Moreover, Blackbaud announced a noncash impairment charge of up to approximately $415 million for its EVERFI asset group, which will be recorded during the fourth quarter of 2024. This move is in line with generally accepted accounting principles and follows the observation that EVERFI has been performing below expectations.

In addition to these financial maneuvers, Blackbaud has made a strategic appointment to its board of directors. Bradley Pyburn, a retired Air Force major general and former chief of staff for U.S. Cyber Command, has been welcomed to the board. His extensive background in cybersecurity and information technology is expected to bring valuable insights to the company.

These recent developments underscore Blackbaud’s commitment to its strategic direction and its dedication to supporting its customers worldwide in driving social impact.

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