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4-Traders Homepage  >  Equities  >  Nasdaq  >  Blackbaud, Inc.    BLKB

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BLACKBAUD : Renaissance Acquires Donor-Advised Fund Platform

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02/08/2011 | 02:10pm CEST

INDIANAPOLIS, Feb. 8, 2011 /PRNewswire/ -- Renaissance Administration LLC, an industry leader in charitable gift design and administration, has acquired a Donor-Advised Fund business from Blackbaud, Inc, (Nasdaq: BLKB). The two companies have a history of working together in the charitable planning arena and will have an ongoing partnership throughout the transition and into the future.

"Based on our prior experiences in working with Renaissance, we are confident that this will be a seamless transition and will enhance the level of service to institutions," says Vincent Prajka, Vice President of Corporate Strategy & Development for Blackbaud. Elizabeth Packer Bassett, President and CEO of Renaissance adds, "This acquisition furthers our ability to grow our portfolio while expanding the exemplary service and knowledge we are known for throughout the industry."

Adding Blackbaud's Donor-Advised Fund platform to their own proprietary software for charitable gift administration means that Renaissance will now have the ability to offer charitable organizations a selection from multiple platforms based on the individual client's needs. Renaissance's focus on providing back office support and private label administration to community, religious and private foundations will benefit from the flexibility gained by this addition as will their retail clients.

Greg Baker, Lead Counsel for Renaissance and President of the Renaissance Charitable Foundation says, "Renaissance and Blackbaud have partnered to provide joint administration to this group of funds for over five years, so combining these services under one roof will have a streamlining effect on the process."

Renaissance has been building a reputation as a reliable charitable gift administrator since 1987. The Blackbaud Donor-Advised Fund program was previously known as Giving Capital and later Kintera Donor Advised Fund before being acquired by Blackbaud in 2008.

About Renaissance

Renaissance is a charitable gift administration company that focuses exclusively on gift administration, specializing in private label administration. Renaissance is now the premier provider of charitable gift design and administration services, and is the largest third-party charitable trust administrator in the United States. For over 20 years Renaissance has partnered with financial advisors, attorneys, accountants and others to establish more than 20,000 charitable gifts, including Charitable Remainder Trusts, Donor-Advised Funds and more. For more information, visit www.CharitableTrust.com.

If you would like more information on this topic, please call Gregg Nagel at (317) 843-5641 or e-mail him at nagelg@reninc.com.

SOURCE Renaissance Administration LLC

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