Oklahoma State University Foundation Chooses Blackbaud Solutions to Manage Unprecedented Donations
Will Use the Company’s Financial and Advanced Reporting Solutions to Provide Donors with Comprehensive Fund Management and Stewardship Services
CHARLESTON, S.C.--(BUSINESS WIRE)--Blackbaud, Inc. (Nasdaq: BLKB) today announced that the Oklahoma State University Foundation (OSUF) has selected The Financial Edge™ as its specialized nonprofit accounting solution, and The Information Edge™ for its complex financial analysis and reporting capabilities. The Foundation, which received a record-setting $106 million in gifts so far this year, will rely on these solutions to maintain accountability, improve efficiency, and meet strict reporting requirements.
“Blackbaud delivers outstanding product solutions for the Foundation’s accounting and reporting needs,” said Kirk A. Jewell, OSUF’s president and chief executive officer. “We have also been very pleased with their professional and responsive staff, which has partnered with us to ensure success.”
The Oklahoma State University Foundation’s mission is to unite donor and university passions and priorities to achieve excellence. The supporting foundation currently manages $236 million in endowments and $375 million in assets. Ninety-seven percent of all gifts the Foundation processes are restricted for a specific program, project, college, campus, or department and are deposited into one the Foundation’s more than 2,000 accounts.
“A higher education foundation is a specialized business with specific needs,” said Marc Chardon, Blackbaud’s chief executive officer. “We are pleased to provide the technology solution that will help the Oklahoma State University Foundation meet its complex fiscal requirements and reach its goal of managing an endowment that will continue to strengthen the University’s programs.”
The Foundation, a Blackbaud customer since March, chose The Financial Edge for the solution’s ability to handle a high volume of financial records, funds, and disbursements, while enabling the business and finance staff to quickly and easily generate a variety of customized reports. It will also rely on The Information Edge for its centralized data integration and advanced reporting and analysis.
An accountability solution
Together, The Financial Edge and The Information Edge will help the Foundation achieve the highest level of fiscal transparency and accountability while helping its staff members make smart, strategic decisions and evaluate the performance of every initiative in real-time.
With the combined solution, OSUF will be able to:
• Strategically manage funds, and perform complex distributions and budgeting
• Demonstrate fiscal responsibility and stewardship to its board, donors, and overall community by sharing timely, accurate information and reports
• Share updates with beneficiaries within the campus community, such as faculty and staff, on funds that are being allocated for their specific benefit
• Gain insight into critical information at a glance with performance dashboards, empowering staff to manage, track, and analyze key indicators
For more information on Blackbaud’s solutions for foundations, visit www.blackbaud.com/products/industry/foundations.aspx.
About Oklahoma State University Foundation
Organized in 1961, the Oklahoma State University Foundation has been designated by the Oklahoma State University Board of Regents as the official fundraising organization to receive private gifts for the University. The University has an enrollment of more than 32,000 students on its four campuses. It offers bachelor's, master's and doctoral degrees in a large number of fields. For more information, visit www.osugiving.com.
About Blackbaud, Inc.
Blackbaud is the leading global provider of software and related services designed specifically for nonprofit organizations. More than 15,000 organizations — including the American Red Cross, Bowdoin College, the Chesapeake Bay Foundation, the Crohn's & Colitis Foundation of America, the Detroit Zoological Society, Episcopal High School, Help the Aged, the Lincoln Center, and United Way of America — use Blackbaud products and consulting services for fundraising, financial management, business intelligence, Web site management, school administration, and ticketing. Blackbaud's solutions include The Raiser's Edge®, The Financial Edge™, The Education Edge™, The Patron Edge®, Blackbaud® NetCommunity™, The Information Edge™, The Researcher's Edge™, WealthPoint™, and ProspectPoint™, as well as a wide range of consulting and educational services. Founded in 1981, Blackbaud is headquartered in Charleston, South Carolina, and has operations in Toronto, Ontario; Glasgow, Scotland; London, England; and Sydney, Australia. For more information, visit www.blackbaud.com.
Blackbaud, the Blackbaud logo, The Raiser's Edge, The Financial Edge, The Education Edge, The Patron Edge, Blackbaud NetCommunity, The Information Edge, The Researcher's Edge, WealthPoint, and ProspectPoint are trademarks or registered trademarks of Blackbaud, Inc.