Manager – Software Development

Greenhouse Funds LLLP sold its entire stake in Blackbaud, disposing of 802,904 shares worth an estimated $51.63 million during the fourth quarter of 2025, according to a Securities and Exchange Commission filing dated 17 February 2026. The position previously represented 1.89% of the fund's assets under management. As of 13 February 2026, Blackbaud shares traded at $49.08, down 39.2% over the previous year. Blackbaud provides cloud-based software solutions for fundraising, financial management and engagement, serving education, healthcare, faith-based organisations and nonprofits. The sale follows a broader trend of investors divesting from software-as-a-service stocks, as AI engines have begun replicating platform functionalities at lower costs.

New Blackbaud Institute data shows resilience in 2025 Charitable Giving; highlights areas of Opportunities for nonprofits in 2026. Mar 18, 2026, 09:00 ET Charitable Giving Remained Strong in 2025, but Growth Varied by Organization Size and Gift Size CHARLESTON, S.C., March 18, 2026 /PRNewswire/ - The Blackbaud Institute, a research lab at Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today released new insights and giving data in its 2025 Trends in Giving data spotlight. This data reveals that charitable giving proved resilient in 2025 despite a cooling economy. The typical nonprofit organization saw revenue growth of approximately 4.3% year over year, powered by a strong finish in end-of-year giving. However, growth was concentrated among organizations and donors with greater capacity. Large organizations and mid-to- major gifts experienced gains, while small organizations and sub $1,000 giving lagged or declined in 2025. Large organizations derived most of their year-end gains from major gifts, while small organizations remained more reliant on lower-level giving, which tapered off at year end. "Our 2025 data shows a stark difference in the performance of large organizations versus small organizations - a bifurcation that has become more evident in the last two years," said Carrie Cobb, chief data and AI officer, Blackbaud. "For a while now, the sector has seen the trend of 'fewer donors, more dollars' play out, with the average gift size nearly doubling in the last ten years. But it's only in the last two years that small organizations in particular have faced growing challenges with major giving, contributing to the performance gap we're seeing. There's an opportunity now for smaller organizations to reorient around a strategy that prioritizes major giving and for organizations of all sizes to build their midlevel giving structures to cultivate future major donors." Summary of Key Findings * Year-end giving remained an engine of growth: * More than 36% of all charitable revenue was raised in Q4, with December alone accounting for roughly 18% of annual giving, despite a cooling macro environment. * Growth varied sharply by organization size: * Large organizations finished the year with approximately 11.7% revenue growth year over year. * Midsize organizations saw modest growth of approximately 2%. * Small organizations ended 2025 down approximately 6.4%. * Major and mid-level donors drove gains: * Gifts of $1,000 or more grew by roughly 4.7% year over year, while gifts under $1,000 declined by about 1.1%. * Large organizations received 84.5% of annual revenue from major gifts, compared with 51.7% for small organizations. * Online giving continued to outperform: * Digital fundraising increased by approximately 11% year over year, peaking at nearly 15% growth in November. * Gifts have grown over the past decade: * Average gift size has nearly doubled in the last 10 years, from $727 in 2016 to $1,346 in 2025. Insights and Opportunities for 2026 Based on these findings, opportunities for growth that have emerged from this report as well as other recent Blackbaud Institute research include: * While major gifts drove the greatest gains in 2025, midlevel donors remain an often overlooked and under-engaged donor segment. Fundraisers should consider how AI tools including Agentic AI can help fill this gap. * Online giving continues to outperform, indicating strong ROI for the organizations who prioritize this platform. Fundraising teams should consider leveraging AI-optimized online donation forms to capitalize on this opportunity. * End-of-year campaigns should be prioritized, since Q4 accounts for an outsized proportion of all charitable revenue. Fundraising teams should look at ways to develop relationships, test messaging, and strengthen overall brand awareness throughout the first half of the year to prepare to capitalize on end-of-year donor generosity. * Corporate giving should be considered as a pathway to major giving. The ability to pool funds from employee giving and matching gift programs provides a significant revenue opportunity, as well as an opportunity to steward new supporters in the form of individual employees, many of whom are Gen Z and Millennial givers that have high rates of participation in workplace giving and volunteering programs. "What's inspiring optimism in this moment is that we're beginning to see the very capacity constraints smaller organizations have typically faced in the past - building a strong midlevel pipeline, sustaining consistent stewardship, and identifying major-gift potential - become more achievable as teams adopt AI to strengthen segmentation, surface next-best actions, and personalize outreach at scale," said Lori Poer, head of the Blackbaud Institute. "With the right data foundation, AI can take repetitive work off teams' plates and help more organizations scale relationship-based fundraising and drive sustainable growth." The full 2025 Trends in Giving Spotlight is available here. All Blackbaud Institute resources are offered for free, as part of Blackbaud's commitment to accelerating social impact. The Blackbaud Philanthropic Dataset Blackbaud's proprietary philanthropic data set estimates the experience of an average nonprofit organization using giving data from a subset of Blackbaud customers representing over 7,500 nonprofit organizations, totaling over $66 billion in fundraising revenue. Nonprofit data available from the IRS and Giving USA are used to weight the data of the sample to align with the makeup of the sector proportionally by organization size and focus to give a representative snapshot of the sector. Organizations' size is defined by annual revenue: Small (up to 1 million dollars), Medium (between 1 million dollars and up to 10 million dollars), and Large (10 million dollars and above). About Blackbaud Institute The Blackbaud Institute develops leading-edge research and convenes expert voices to equip the social impact community with knowledge, insight, and confidence. The Blackbaud Institute draws from Blackbaud's proprietary data set, the most comprehensive in the social impact community. In addition, the Institute facilitates public research studies to drive original qualitative and quantitative insight. Our research agenda is grounded in a commitment to topics that social impact organizations can apply immediately to better understand, benchmark, and improve their essential business operations. We are guided by our commitment to the social impact sector to provide timely, transparent, and well-rounded research that is free to access. From how organizations run to how donors give, we're 100% focused on research and resources for this sector. About Blackbaud Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India 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. 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; 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. SOURCE Blackbaud

Blackbaud launches new category of AI agent with general availability of its first Agent for Good(TM). Mar 17, 2026, 09:00 ET The Development Agent, designed to help personalize donor engagement and grow giving at scale, is the first-ever expert agent to be embedded in a dedicated social impact platform CHARLESTON, S.C., March 17, 2026 /PRNewswire/ - Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced the general availability of the Development Agent, Blackbaud's first Agent for Good(TM), to Raiser's Edge NXT(R) customers in the U.S., with availability internationally and in other products to follow. Building on its leadership trajectory as the category creator for systems of record in the fundraising market, Blackbaud is now defining a new category of agentic AI for social impact: one where expert digital teammates are native to a sector-specific platform, making them the first agents of this type able to execute fully autonomous social impact workflows under human supervision. With the Development Agent, Blackbaud moves the sector beyond bolt-on agents, which can introduce data gaps and security risks, and AI assistants that offer insights but don't meaningfully add capacity. The Development Agent - operating autonomously, but with human oversight like any team member - can identify, cultivate and engage donors with individualized, timely, and brand-aligned outreach at a scale fundraising teams could never achieve alone. "I believe the social impact sector has a monumental opportunity to benefit from the advancements in agentic AI," said Mike Gianoni, President, CEO and Chairman of the Board at Blackbaud. "If used responsibly and effectively, agentic AI has the potential to completely redefine what's possible when people unite around shared purpose. Together, the social impact sector could unlock the greatest advancement of purpose-driven missions in human history. We are all in on supporting our customers as the world's most trusted and powerful AI engine for social impact." The Development Agent is embedded within the trusted Blackbaud solution, which leverages decades of proprietary philanthropic data and deep sector-specific contextual intelligence. Customers can be confident in the Development Agent's ability to operate within the ethics, behaviors and judgment patterns that shape real-world decisions, which is critical to maintaining and strengthening donor trust. Delivering individualized outreach and building donor trust at scale has the potential to grow revenue exponentially. "The Development Agent can steward all donor relationships, but I know many of our customers are going to be particularly excited about the potential for cultivating mid-tier donors," said Paul Goldstein, Senior Director and Head of AI Growth at Blackbaud. "Mid-tier donors are a high-potential group because these individuals are often affluent enough to give more, but don't necessarily have a deep enough personal affinity with the organization to inspire them to do so. The challenge is, fundraising teams rarely have the capacity to personally steward or engage this large donor segment the way they do major givers. The Development Agent changes this, offering those teams the capacity to tap into this massive potential to build that authentic personal connection to the mission and grow giving." Brian Otis, Vice President for University Advancement at the University of New Haven, which participated in Blackbaud's Early Access Program for the Development Agent, noted, "We're using the Development Agent to accelerate donor connections and make those connections more impactful in a shorter period. This will help us accelerate fundraising across all levels." Blackbaud plans to expand The Development Agent next to Blackbaud Enterprise Fundraising CRM(TM) and ultimately introduce other Agents for Good across its product suite. Blackbaud Agents for Good are just one element of a broader strategy to transform what is possible for social impact with AI. The company will expand Agents for Good across core business needs for social impact teams; introduce more ways to expand optionality of access to Blackbaud intelligence; and continue its rapid expansion of Blackbaud AI capabilities, including Chat for Blackbaud AI. Blackbaud customers have never had so many options to leverage AI-driven technology to support their outcomes. About Blackbaud Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India 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. 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; 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. SOURCE Blackbaud