Business Context and Reporting Period
This Form 8-K Current Report was filed by Blackbaud, Inc. on March 15, 2007. The filing reports a corporate governance event: the appointment of a new member to the Board of Directors.
Financial Metrics
The filing does not provide financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial figure disclosed is that Save the Children, a customer of Blackbaud, paid approximately $215,000 for software and services in 2006.
Material Changes
On March 15, 2007, the Board of Directors appointed Carolyn Miles as a Class A director. She will hold office until the 2008 Annual Meeting of Stockholders or until her successor is elected. The Nominating and Corporate Governance Committee recommended her appointment based on desirable characteristics including strength of character, mature judgment, and relevant technical skills.
Outlook, Risks, and Unusual Items
There are no forward-looking guidance statements, risk factors, or contingencies disclosed in this specific filing. The filing notes a potential related-party transaction context: Ms. Miles is the Executive Vice President and Chief Operating Officer of Save the Children, a Blackbaud customer. However, the filing explicitly states there were no arrangements or understandings between Ms. Miles and any other person pursuant to which she was appointed as a director.
Key Facts for Investor Verification
- Carolyn Miles was appointed to the Blackbaud Board of Directors on March 15, 2007.
- Ms. Miles serves as Executive Vice President and Chief Operating Officer of Save the Children.
- Save the Children is a customer of Blackbaud, with 2006 payments totaling approximately $215,000.
- The specific Board committees Ms. Miles will serve on were not disclosed in this filing and are expected to be detailed in the 2007 proxy statement.
- No financial performance data is included in this report.